Overseas Direct Investments by proprietorship concern / unregistered partnership firm in India - Review
Posted Date : 22-Jan-2015 , 09:56:35 pm | Posted By: CASANSAAR
RBI/2014-2015/419A.P. (DIR Series) Circular No.59
January 22, 2015
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Overseas Direct Investments by proprietorship concern / unregistered partnership firm in India - Review
Attention of the Authorised Dealer (AD - Category I) banks is invited to the provisions of theNotification No. FEMA.120/RB-2004 dated July 7, 2004[Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004] (the Notification)...
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FEMA |
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CBDT releases Explanatory Notes to the provisions of Finance (No. 2) Act, 2014
Posted Date : 22-Jan-2015 , 08:29:01 am | Posted By: CASANSAAR
Finance (No.2) Act, 2014 ─ Explanatory Notes to the Provisions of the Finance(No.2) Act, 2014 .
CIRCULAR NO. -01/2015, DATED 21st JANUARY, 2015....
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Income Tax |
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Payments into Government Account through Debit / Credit cards and Net banking: permissible period for remittance
Posted Date : 21-Jan-2015 , 06:20:28 pm | Posted By: Ravich
RBI/2014-15/416DGBA.GAD No.H-3203/42.01.011/2014-15
January 21, 2015
The Chairman / Chief Executive OfficerAll agency Banks
Dear Sir / Madam
Payments into Government Account through Debit / Credit cards and Net banking: permissible period for remittance
Please refer tocirculars DGBA.GAD.No.H-2444/42.01.011/2010-11 dated October 8, 2010andDGBA.GAD.No.H-4831/42.01.011/2012-13 dated February 18, 2013on the above subject. We hereby advise that as per the instructions of the Controller G...
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RBI |
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Service Tax Amendment to notification no. 20/2014-ST dated 16.09.2014
Posted Date : 21-Jan-2015 , 06:12:56 pm | Posted By: Ravich
In exercise of the powers conferred by rule 3 of the Central Excise Rules, 2002 and rule 3 of the Service Tax Rules, 1994, the Central Board of Excise and Customs, makes the following amendments in the notification no. 20/2014-Service Tax dated 16th September, 2014, published vide G.S.R. (E). 648 dated 16th September, 2014, namely:-
...
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Service Tax |
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Govt. notifies 9.1% interest rate for investment in 'Sukanya Samridhi Account' during 2014-15
Posted Date : 21-Jan-2015 , 05:55:21 pm | Posted By: Ravich
SUKANYA SAMRIDHHI ACCOUNT RULES, 2014 - RATE OF INTEREST TO BE ALLOWED ON INVESTMENTS IN SAID SCHEME DURING FINANCIAL YEAR 2014-15
OFFICE MEMORANDUM [F.NO. 2/3/2014.NS-II],DATED 20-1-2015
Subject: Launch of scheme for Girl Child named "Sukanya Samridhhi Account" by Hon'ble Prime Minister - rate of interest reg.
In compliance of announcement by Finance Minister in his Budget Speech 2014-15 the Government of India has introduced a new scheme named "Sukanya Samridhhi Account"videNotification No....
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Income Tax |
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Now foreign director can authorize practicing CA, CS and CWA to intimate his resignation to ROC
Posted Date : 20-Jan-2015 , 05:41:28 pm | Posted By: CASANSAAR
COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) AMENDMENT RULES, 2015 - AMENDMENT IN RULE 16
NOTIFICATION [F.NO. 01/9/2013-CL.V(PART-II)],DATED 19-1-2015
In exercise of the powers conferred by the second proviso to sub-section (1), sub-section (4) and clause (f) of sub-section (6) of section 149, sub-sections (3) and (4) of section 150, section 151, sub-section (5) of section 152, section 153, section 154, section 157, section 160, sub-section (1) of section 168 and section 170 read w...
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Corporate Laws |
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MCA encourages CSR spending; broadens list of entities through which Cos can undertake CSR activities
Posted Date : 20-Jan-2015 , 05:37:48 pm | Posted By: CASANSAAR
COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) AMENDMENT RULES, 2015 - AMENDMENT IN RULE 4
NOTIFICATION [F.NO. 1/18/2013-CL-V-PART],DATED 19-1-2015
In exercise of the powers conferred under section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Corporate Social Responsibility Policy) Rules, 2014, namely:—
1.(1) These rules may be called the Companies (Cor...
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Corporate Laws |
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Re-export of goods imported under bonafide mistake
Posted Date : 20-Jan-2015 , 05:29:45 pm | Posted By: CASANSAAR
Circular No. 04/2015-Customs
F. No. 450/74/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
*****
Room No. 229-A, North Block
New Delhi, dated: 20.01.2015
To,
All Chief Commissioners of Customs/Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs/Customs (Preventive)
All Commissioners of Custom and Central Excise
Sir/ Madam
Subject: Re-export of goods imported unde...
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Category :
Custom |
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Interest Rates on Advances
Posted Date : 19-Jan-2015 , 09:43:47 pm | Posted By: CASANSAAR
RBI/2014-15/414 DBR.Dir.BC.No.63/13.03.00/2014-15
January 19, 2015
All Scheduled Commercial Banks (Excluding RRBs)
Dear Sir/Madam
Interest Rates on Advances
A reference is invited to our circulars DBOD.No.Dir.BC.88/13.03.00/2009-10 dated April 9, 2010 on ‘Guidelines on the Base Rate’ and DBOD.No.Dir.BC.47/13.03.00/ 2013-14 dated September 2, 2013 on ‘Base Rate- Revised Guidelines’.
2. Based on the recommendations of the Working Group on pricing of Credit (Cha...
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RBI |
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Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries
Posted Date : 19-Jan-2015 , 09:42:38 pm | Posted By: CASANSAAR
RBI/2014-15/413 DNBR.PD.CC.No.012/03.10.001/2014-15
January 19, 2015
All NBFCs
Dear Sirs,
Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries
Based on the announcement made in the Union Budget 2013-14, Reserve Bank issued guidelines to banks for flexible structuring and refinancing of fresh term loans to long term project loans to infrastructure and core industries vide circulars DBOD.No.BP.BC.24/ 21.04.132/2014-15 dated July 15, 2014 and ...
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RBI |
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Regarding Export and Import of Currency
Posted Date : 17-Jan-2015 , 08:11:49 am | Posted By: CASANSAAR
Attention is invited to Regulation (3) of Foreign Exchange Management (Exportand Import of Currency) (Amendment) Regulations, 2009, notified vide NotificationNo.FEMA.258/2013-RB dated February 15, 2013 and A.P. (DIR Series) Circular No.No. 39 dated September 6, 2013 in terms of which, any person resident in India maytake outside India or having gone out of India on a temporary visit, may bring into India(other than to and from Nepal and Bhutan) currency notes of Government of India andReserve Ba...
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Custom |
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Computation of Net-worth
Posted Date : 17-Jan-2015 , 08:03:10 am | Posted By: CASANSAAR
RBI/2014-15/411DPSS.CO.AD.No.1344 02.27.005/2014-15
January 16, 2015
All the entities authorised under PSS Act, 2007
Dear Madam/ Sir,
Computation of Net-worth
As you are aware, under the Payment and Settlement Systems Act, 2007 (PSS Act) an entity operating a payment system within the country has to obtain authorisation from the Reserve Bank of India. The Reserve Bank has from time to time issued guidelines in respect of the eligibility criteria for authorisation of Payment System Operators...
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RBI |
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Review of Guidelines on Restructuring of Advances by NBFCs
Posted Date : 17-Jan-2015 , 08:02:16 am | Posted By: CASANSAAR
RBI/2014-15/410DNBR.CO.PD.No.011/03.10.01/2014-15
January 16, 2015
All NBFCs excluding Primary Dealers
Dear Sirs,
Review of Guidelines on Restructuring of Advances by NBFCs
Please refer tocircular DNBS.CO.PD.No.367/03.10.01/2013-14, dated January 23, 2014, on the captioned subject.
2. In terms of extant instructions contained in the above mentioned circulars, revisions of the date of commencement of commercial operations (DCCO) and consequential shift in repayment ...
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RBI |
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Entry of Banks into Insurance Business
Posted Date : 16-Jan-2015 , 07:49:36 am | Posted By: CASANSAAR
RBI/2014-2015/409DBR.No.FSD.BC.62/24.01.018/2014-15
January 15, 2015
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/ Madam,
Entry of Banks into Insurance Business
Please refer to ourCircular DBOD.No.FSC.BC.16/24.01.018/2000-2001 dated August 9, 2000which,inter alia,permitted banks to set up insurance joint ventures on risk participation basis and also to undertake insurance business as agents of insurance companies on fee basis, without any risk participation by banks and their sub...
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RBI |
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Regarding simplification of Customs procedures for shipping
Posted Date : 16-Jan-2015 , 07:47:23 am | Posted By: CASANSAAR
Circular No. 02/2015-Customs
F. No. 450/221/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
*****
New Delhi, dated: 15.01.2015
To
The Chief Commissioner of Customs/Customs (Preventive)
The Chief Commissioner of Customs and Central Excise
The Commissioner of Customs/Customs (Preventive)
The Commissioner of Customs and Central Excise
Sir/ Madam
Subject:Simplification of Customs procedures for shipping – regar...
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Category :
Custom |
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Foreign Contribution (Regulation) Act, 2010 – Receipt of foreign contribution by Individuals / NGOs / Organisations from certain donors
Posted Date : 15-Jan-2015 , 07:44:17 pm | Posted By: CASANSAAR
RBI/2014-15/408DCBR.BPD (PCB/RCB) Cir.No.13/14.01.062/2014-15
January 15, 2015
The Chief Executive Officer,All Primary (Urban) Co-operative Banks/State and Central Co-operative Banks (StCBs / CCBs)
Madam/Dear Sir,
Foreign Contribution (Regulation) Act, 2010 – Receipt of foreign contribution by Individuals / NGOs / Organisations from certain donors - Primary (Urban) Co-operative Banks (UCBs)/State and Central Co-operative Banks
Under Section 46 of the Foreign Contributions (Regulation)...
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RBI |
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 15-Jan-2015 , 02:31:30 pm | Posted By: Rupa Kaushik
RBI/2014-2015/403FMOD.MAOG. No. 104/01.01.001/2014-15
January 15, 2015
All Scheduled Commercial Banks (excluding RRBs), Scheduled Urban Co-operative Banks and Standalone Primary Dealers
Dear Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced by the Governor today, it has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 8.00 per cent to7.75 per centwith immediate effect.
2. Consequent to the change in...
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Category :
RBI |
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Marginal Standing Facility
Posted Date : 15-Jan-2015 , 02:29:58 pm | Posted By: Rupa Kaushik
RBI/2014-2015/404FMOD.MAOG.No.105/01.18.001/2014-15
January 15, 2015
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir,
Marginal Standing Facility
As announced by the Governor today, it has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 8.00 per cent to7.75 per centwith immediate effect.
2. Consequent to the change in the Repo rate, the Marginal Standing Facility (MSF) rate will stand adjusted to8.75 per centwith immediate ...
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RBI |
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Membership of Credit Information Companies (CICs)
Posted Date : 15-Jan-2015 , 02:28:36 pm | Posted By: Rupa Kaushik
RBI/2014-2015/405DBR.No.CID.BC.60/20.16.056/2014-15
January 15, 2015
All Scheduled Commercial Banks (including RRBs & LABs),All India Notified Financial Institutions, andAll Credit Information Companies
Dear Sir / Madam
Membership of Credit Information Companies (CICs)
The Report of the Committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies (Chairman: Shri Aditya Puri) constituted by the Reserve Bank of India (RBI) was placed on RBI&rsquo...
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RBI |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 15-Jan-2015 , 12:19:00 pm | Posted By: Rupa Kaushik
RBI/2014-15/402REF.No.MPD.BC. 375/07.01.279/2014-15
Pausha 25, 1936 (Sake)January 15, 2015
To
All Scheduled Banks [excluding Regional Rural Banks(RRBs) ]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theStatement by Dr. Raghuram G Rajan, Governor on Monetary Policy dated January 15, 2015, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 8.0 per cent to 7.75 ...
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RBI |
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Risk Management and Inter Bank Dealings: Hedging under Past Performance Route- Liberalisation of Documentation Requirements in the OTC market
Posted Date : 14-Jan-2015 , 06:34:47 pm | Posted By: CASANSAAR
RBI/2014-15/401A.P. (DIR Series) Circular No.58
January 14, 2015
ToAll Category - I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter Bank Dealings: Hedging under Past Performance Route- Liberalisation of Documentation Requirements in the OTC market
Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3...
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Category :
RBI |
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Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961
Posted Date : 14-Jan-2015 , 08:46:24 am | Posted By: CASANSAAR
Subject: – Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961 -reg.
Sub-section (ID) of section 143 of the Income-tax Act, 1961 (‘Act’) provides that where a notice has been issued to a taxpayer under sub-section (2) of section 143 of the Act, it shall not be necessary to process the return in such a case.
2. Some doubts have been expressed, in view of the words “shall not be necessary” used in the said sub-section, as to whet...
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Income Tax |
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Merging of Commercial invoice and packing list
Posted Date : 12-Jan-2015 , 09:00:57 pm | Posted By: CASANSAAR
Circular No. 01/15-Customs
F. No. 450/25/2013-Cus IV (Pt.)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
New Delhi, dated 12/01/2015
To
All Chief Commissioners of Customs / Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs / Customs (Preventive)
All Commissioners of Customs and Central Excise
Sir/ Madam,
Subject: Merging of Commercial invoice and packing list – reg
Simpl...
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Category :
Custom |
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Notification authorizing officers for filing complaint under section 159 read with section 155 of the Companies Act, 2013
Posted Date : 12-Jan-2015 , 08:55:01 pm | Posted By: CASANSAAR
Notification dated 09.01.2015: Notification authorizing officers for filing complaint under section 159 read with section 155 of the Companies Act, 2013...
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Category :
Corporate Laws |
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Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) - Registration
Posted Date : 09-Jan-2015 , 09:04:40 pm | Posted By: CASANSAAR
RBI/2014-15/397DNBR.CC.PD.No.010/03.10.01/2014-15
January 09, 2015
To
All Non Banking Financial Companies
Dear Sirs,
Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) - Registration
Please refer tocirculars DNBS (PD).CC.No 401/03.10.42/2014-15 dated July 25, 2014andDBR.AML.No.9644/14.07.018/2014-15 dated December 30, 2014on the captioned subject.
2. Government of India has now advised that to avoid withholding tax, Fore...
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Category :
RBI |
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Implementation of Basel III Capital Regulations in India – Revised Framework for Leverage Ratio
Posted Date : 09-Jan-2015 , 08:23:54 am | Posted By: CASANSAAR
RBI/2014-15/396DBR.No.BP.BC.58/21.06.201/2014-15
January 8, 2015
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Regional Rural Banks and Local Area Banks)
Madam / Sir,
Implementation of Basel III Capital Regulations in India – Revised Framework for Leverage Ratio
Please refer to paragraph 20 of the Fourth Bi-Monthly Monetary Policy Statement, 2014-15 announced on September 30, 2014. It was indicated therein that revised guidelines on...
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Category :
RBI |
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Gold Loan – Bullet Repayment
Posted Date : 08-Jan-2015 , 05:32:47 pm | Posted By: Rupa Kaushik
RBI/2014-15/395DCBR.CO.BPD (RCB).Cir.No.11/13.05.001/2014-15
January 08, 2015
The Chief Executive OfficerAll State / Central Cooperative Banks (StCBs/CCBs)
Madam / Dear Sir,
Gold Loan – Bullet Repayment
Please refer tocircular RPCD.CO.RF.BC.No.60/07.37.02/2009-10 dated March 5, 2010wherein StCBs/CCBs were permitted to grant gold loans up to Rs. 1.00 lakh with bullet repayment option.
2. On a review, it has been decided to increase the quantum of loan that could be granted und...
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Category :
RBI |
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DVAT - Last date for filing form 9 has been extended to 05-02-2015
Posted Date : 08-Jan-2015 , 02:39:21 pm | Posted By: CASANSAAR
DVAT - Last date for filing form 9 has been extended to 05-02-2015....
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Category :
VAT |
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CBDT to crack whip on officials disclosing taxpayer's info to media; asks them to respect taxpayer's privacy
Posted Date : 07-Jan-2015 , 05:48:43 pm | Posted By: CASANSAAR
SECTION 138 OF THE INCOME-TAX ACT, 1961 - DISCLOSURE OF INFORMATION RESPECTING ASSESSEES TO SPECIFIED OFFICER, AUTHORITY OR BODY PERFORMING FUNCTIONS UNDER ANY OTHER LAW - DISCLOSURE OF INFORMATION ABOUT TAXPAYERS TO MEDIA
OFFICE MEMORANDUM [F.NO.DIR.(HQRS.)/CH.(DT)/29/2014],DATED 1-1-2015
Instances have come to the notice of the Board where information pertaining to individual taxpayers has been published in the print media with specific reference to departmental sources. In some cases, e...
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Category :
Income Tax |
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CBDT plans to celebrate 'Good Governance day' on every Wednesday by holding it as 'public meeting day'
Posted Date : 07-Jan-2015 , 05:47:42 pm | Posted By: CASANSAAR
GOOD GOVERNANCE DAY - INSTRUCTIONS ON OBSERVANCE OF WEDNESDAYS AS A PUBLIC HEARING DAY FOR HEARING PUBLIC GRIEVANCES
OFFICE MEMORANDUM [F.NO.DIR.(HQRS.)/CH.(DT)/29/2013],DATED 6-1-2015
As a part of Prime Minister's 'Good Governance Day' promise to provide an "open and accountable administration" it has been decided that all field offices of the Income Tax Department will observe 'Public Meeting Day' during 10.00 AM to 1.00 PM every Wednesday to listen to and try to resolve the grievances o...
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Category :
Income Tax |
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