On 18 September, SEBI notified an amendment to the SEBI (Share Based Employee Benefits) Regulations, 2014.
An employee under regulation 2(1)(f) was previously defined as: (i) a permanent employee of the company who has been working in India or outside India; or (ii) a director of the company, whether a whole time director or not but excluding an independent director; or (iii) an employee as defined in clause (i) or (ii) of a subsidiary, in India or outside India, or of a holding company of the company or of an associate company. This has been amended to remove “or of an associate company”.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
RBI clarifies reporting requirement under FACTA and CRS
The RBI, through a notification dated 28 August, has clarified the reporting requirements under the US Foreign Account Tax Compliance Act and the Common Reporting Standards (CRS). The Income Tax Rules, through a notification dated 7 August, have been amended to add Rule 114F (definitions), 114G (information to be maintained and reported) and 114H (due diligence requirement) for implementation of the intergovernmental agreement with the US and CRS. This information regarding US reportable persons and other reportable persons has to be furnished in form 61B, which was notified with the above.
