MCA Notifies Rules For Corporate Insolvency Resolution Process Of Guarantors To Corporate Debtors

The Ministry of Corporate Affairs vide Notification dated 15th November 2019, has notified rules for corporate insolvency resolution process in respect of guarantors of corporate debtors, called The Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, which shall be in force from 1st December 2019.

CBDT publishes the Income-Tax (14th Amendment) Rules, 2019

The Central Board of Direct Taxes on 18th November 2019 has issued the Income-Tax (14th Amendment) Rules, 2019, introducing new obligations for tax payers deducting tax at source as per Section 194M of the Income tax Act, for commission, brokerage or professional fees paid for work done in pursuance to contract.