Regulatory intelligence
Seven years of rules that moved money.
35
changes tracked
7
years covered
2019–2025
the window
The record
Every change, in the order it happened.
Open a year to read what moved, or filter by the theme that touches your portfolio.
35 changes across 7 years.
- New product
SEBI introduces SIF (Specialised Investment Fund)
New product category bridging MFs and PMS with a ₹10L minimum.
- Tax
New tax regime becomes default
Old regime on opt-in. HRA, 80C and 80D only under old, so CTC restructuring is critical.
- F&O
SEBI tightens F&O eligibility and margins
Lot sizes up, weekly expiries reduced. Retail F&O participation drops 35%.
- NRI
RBI liberalises LRS for NRI gifting
Clearer guidelines on gift remittances under LRS for cross-border planning.
- GIFT City
IFSCA GIFT City: Fund Management Regulations 2.0
Enhanced framework for GIFT City AIFs with tax pass-through benefits.
- New product
- Tax
LTCG on equity raised to 12.5%
Holding period changes across asset classes. Tax-loss harvesting becomes essential.
- Regulation
SEBI mandates true-to-label for PMS and AIF
Actual holdings must align with stated strategy. Transparency improves.
- Tax
Debt MFs lose LTCG indexation
All gains taxed at slab. Shifts allocation towards bonds, SDLs and MLDs.
- Transparency
SEBI performance benchmarking for PMS
Mandatory standardised reporting. Alpha claims now verifiable.
- Startups
Angel tax rules relaxed for startups
Section 56(2)(viib) exemptions broadened for DPIIT-registered startups.
- Tax
- Tax
Debt MF taxation overhaul (Finance Act 2023)
Indexation removed for debt funds post April 2023. A fundamental shift in fixed income.
- AIF
SEBI raises AIF minimum to ₹1 Cr (Cat III)
Reinforces AIF as an HNI and UHNI instrument. Fund selection becomes paramount.
- NRI
New TCS on LRS above ₹7 Lakhs
20% TCS on overseas remittances other than education. NRI routing needs structuring.
- ESG
SEBI ESG rating framework launched
Mandatory ESG disclosures for the top 1000 companies.
- Regulation
Smallcase under SEBI RA framework
Providers must register as Research Analysts. Raises the compliance bar.
- Tax
- Crypto
Crypto taxed at 30% flat rate
No set-off of losses, 1% TDS. Punitive taxation impacts allocation decisions.
- Tax
Updated ITR filing window introduced
File updated returns within 2 years of AY end. A second chance for corrections.
- MF
SEBI revamps MF risk-o-meter
Monthly risk-level updates mandatory. Dynamic risk visibility for investors.
- NRI
NRI access to sovereign green bonds
RBI allows NRI participation in green bond issuances.
- Governance
Stricter related-party transactions for listed companies
Tighter approval norms. Governance screening becomes easier.
- Crypto
- MF
SEBI introduces flexi-cap category
New MF category allows unconstrained allocation across market caps.
- Tax
Tax audit threshold raised to ₹10 Cr
For businesses with 95%+ digital transactions. Eases compliance for SMEs.
- MF
SEBI tightens multi-cap MF rules
Mandates 25% minimum each in large, mid and small caps.
- NRI
LRS reporting made mandatory for banks
Enhanced tracking of overseas remittances. NRI compliance tightens.
- Tax
Advance tax on dividend income
After the shift of dividend taxation to investors, advance tax planning becomes critical.
- MF
- Tax
Dividend taxed in the hands of investors
DDT abolished. Dividends now taxed at slab rate, so HNIs bear a higher burden.
- Tax
New tax regime introduced (Section 115BAC)
Lower rates but no deductions. A choice framework introduced for taxpayers.
- PMS
SEBI increases minimum PMS to ₹50 Lakhs
Raised from ₹25L. Raises the bar for PMS accessibility.
- Macro
RBI cuts repo rate to a historic low of 4%
Aggressive easing during COVID. Fixed deposit rates crash below 5%.
- Regulation
SEBI enhances mutual fund stress testing
Post the Franklin Templeton crisis, stricter norms for debt MF liquidity.
- Tax
- Tax
LTCG on equity reintroduced at 10%
After being exempt since 2004, gains above ₹1L taxed. Effective from FY18-19.
- Tax
Surcharge hike on the super-rich
Effective tax rate for ₹2-5 Cr income crosses 39%. HNI tax planning critical.
- MF
SEBI categorisation and rationalisation fully enforced
36 MF categories standardised. Overlap between funds eliminated.
- AIF
AIF industry crosses ₹3 Lakh Crore AUM
Cat III AIFs see maximum growth. Institutional quality improves.
- Banking
RBI introduces positive pay system for cheques
Fraud prevention for high-value cheque transactions above ₹50,000.
- Tax
This timeline is an educational reference and is not investment, tax or legal advice. It summarises publicly announced regulatory changes and may not reflect the latest position. Finwisor is a mutual fund and PMS distributor and earns commission from product manufacturers. It does not charge an advice fee and does not provide investment advice.
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