sunil badala

Partner and National Head for Banking , Financial Services & Insurance ( BFSI) Tax @KPMG India- All views are personal

[sunil badala @badala_sunil]

Also, practical challenges for events/conferences are suitably addressed. The circular also clarifies various other issues. We are thankful to the CBDT for this circular which addresses the larger part of the concerns presented by us on behalf of Banks and NBFCs (2/2)@KPMGIndia

[sunil badala @badala_sunil]

The CBDT has issued a 2nd circular to remove difficulties in implementing the newly enacted TDS provisions of section194R of Income-tax Act. The circular addresses a key concern faced by Banks & large NBFCs by exempting loan waivers & one-time settlements from ambit of 194R (1/2)

[sunil badala @badala_sunil]

An expectation from CBDT is now to clarify applicability of concessional tax rate of 5 percent on the interest arising on debt securities of Indian REIT/ InvITs. [3/3]

[sunil badala @badala_sunil]

RBI recently allowed FPIs to invest in debt securities of Indian REITs and InvITs. Permitting FPIs to invest in these securities creates another avenue for REITs and InvITs to raise funds and increases the potential for long term investment. [1/3]

[sunil badala @badala_sunil]

Positive development of RBI allowing FPIs to invest in Indian REIT/ InvITs needs to be supported by guidelines on overall limits which will apply to these debt securities, specific investor limits, holding period requirements, if any. [2/3]

[sunil badala @badala_sunil]

Limit of INR 1 crore per borrower for financing subscriptions to initial public offer (IPO), provided under the RBI’s revised regulatory framework for NBFC’s, could reduce leveraged bidding and overall risk to the broader financial markets (3/3)

[sunil badala @badala_sunil]

Four tier scale based regulatory framework announced by RBI to be effective from 1 October 2022, with NBFCs in middle and upper layer being subject to proportionately higher regulations and capital requirement given the systemic risk they may pose (1/3)

[sunil badala @badala_sunil]

Net Owned Fund requirement for certain NBFCs in the base layer to continue at INR 2 Cr under the RBI’s revised regulatory framework for NBFCs, providing much needed relief to these NBFCs (2/3)

[sunil badala @badala_sunil]

Aircraft leasing regime in IFSC offers several tax benefits. This is an evolving and exciting opportunity for aircraft leasing companies to set up operations in IFSC. I have briefly discussed tax benefits in this Article. Enjoy reading! https://t.co/7SPbM69Hqn

[sunil badala @badala_sunil]

My colleague Partner @rajosik and I have explored and briefly discussed this in our article. Hope you enjoy reading it!@KPMGIndia Link - https://t.co/OnPHUo0yN3

[sunil badala @badala_sunil]

IFSCA has recently prescribed a framework to enable corporates to set-up a Global Treasury Centre (GTC) in IFSC. This is an evolving opportunity and worth exploring by corporates looking to set up GTCs.

[sunil badala @badala_sunil]

The suggestion of adopting the Board approved interest rate model and ensuring complete transparency will further safeguard the interest of customers. [3/3]

[sunil badala @badala_sunil]

The consultative paper for harmonising the regulatory frameworks in the microfinance space released by #RBI augurs well for the MFI sector and borrowers. [1/3]@KPMGIndia

[sunil badala @badala_sunil]

The framework aims at protecting the #microfinance borrowers from over-indebtedness, as well as enabling market making (of interest rates like NBFC’s) to bring down the #interestrates to permit the borrowers to make an informed decision. [2/3]