Singapore Airlines Receives FDI Approval from GoI for Vistara-Air India Merger
Current Context: Singapore Airlines has received the approval from the Indian government for its foreign direct investment (FDI) in the proposed merger of Vistara and Air India.
Details
- FDI approval: Singapore Airlines has been granted permission to invest in the merged entity.
- Stake acquisition: The airline is expected to acquire a 25.1% stake in the combined Air India-Vistara.
- Completion timeline: The merger is anticipated to be finalized by the end of 2024.
The e-Dispute Resolution Scheme (e-DRS) has been announced by the Income Tax Department
Current Context: The Income Tax Department has recently launched the e-Dispute Resolution Scheme (e-DRS) to help taxpayers resolve disputes electronically.
About
- Objective: The e-DRS aims to reduce litigation and provide relief to eligible taxpayers by allowing them to resolve disputes electronically through Dispute Resolution Committees (DRCs) established under section 245MA of the Income-tax Act, 1961.
- Eligibility: Taxpayers whose returned income for the relevant assessment year does not exceed ₹50 lakh and where the aggregate amount of variations proposed or made does not exceed ₹10 lakh can apply.
- Application Process: Applications must be filed electronically in Form No. 34BC on the Income Tax Department’s e-filing portal within one month from the date of receipt of the specified order.
- DRC’s Role: The DRC can make modifications to the variations in the specified order and decide on the reduction or waiver of penalties and prosecution.
- Timeline: The DRC is mandated to pass its order within six months from the end of the month in which the application for dispute resolution is admitted.
- This initiative is expected to streamline the dispute resolution process and make it more efficient for taxpayers.
SEBI Revised Eligibility Criteria for Entry, Exit of Stocks in F&O Segment
Current Context: SEBI (Securities and Exchange Board of India) has recently revised the eligibility criteria for stocks to be included or excluded from the Futures and Options (F&O) segment.
Key Points
- Increased Median Quarter Sigma Order Size (MQSOS): The minimum MQSOS required for a stock to enter the F&O segment has been increased from Rs.25 lakh to Rs.75 lakh. This means that the stock must have a minimum order size of Rs.75 lakh to be eligible.
- Higher Market-Wide Position Limit (MWPL): The minimum MWPL for a stock has been raised from Rs.500 crore to Rs.1,500 crore. This limits the maximum amount of positions that can be held by all market participants in a particular stock.
- Revised Average Daily Delivery Value: The minimum average daily delivery value in the cash market has been increased from Rs.10 crore to Rs.35 crore. This indicates that the stock must have a certain level of underlying demand in the cash market.
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