RBI/2016-17/117 FMOD.MAOG.No.116/01.01.001/2016-17 November 10, 2016 All Scheduled Commercial Banks (Excluding Regional Rural Banks), Scheduled Urban Co-operative Banks and Standalone Primary Dealers Dear Sir/Madam, Repo / Reverse Repo Transactions with RBI Please refer tocircular No. FMRD.DIRD.10/14.03.002/2015-16 dated May 19, 2016, on the captioned subject. 2. In thi...

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Attention is drawn to Ministry’s Circular Nos.43/2016-Customs dated 31.08.2016 and 47/2016-Customs dated 20.10.2016 regarding implementation of the Scheme for Rebate of State Levies on Export of Garments, 2016 (ROSL Scheme) notified by the Ministry of Textiles...

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Category : Custom | Comments : 0 | Hits : 447

RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 November 09, 2016 To All Authorised Persons Madam / Sir, Withdrawal of the legal tender character of the existing and any older series banknotes in the denominations of ₹ 500 and ₹ 1000 1. Attention of Authorised Persons is invited to the Government of India Notification published in the Gazette of India vide S.O.3408(E) d...

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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 103/2016 New Delhi, the 7th November, 2016 Income Tax S.O. 3399(E).-In exercise of the powers conferred by section 32, section 115BA and section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:- (1) These rules may be called the Income-tax (29th Amendme...

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Circular No. 1050/38/2016-CX F.No. 207/0512014-CX.6 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs North Block, New Delhi Dated the 8th of November, 2016 To, The Principal Chief Commissioners/ Chief Commissioners of Central Excise (All) The Principal Chief Commissioners/ Chief Commissioners of Central Excise and Service Tax (All) The Principal Chief Commissioners/ Chief Commissioners of Service Tax (All) The Principal ...

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G.S.R.......(E).-In exercise of thc powers conferred bv section 396, 398,399,403 and 404 read with sub-section (l) and (2)of section 469 of the Companies Act 2013, the Central Government hereby makes the rules further to amend the Companies (Registered Offices and Fess) Rules 2014, namely :- ...

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RBI/2016-17/112 DCM (Plg) No.1226/10.27.00/2016-17 November 08, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, ₹ 500 and ₹ 1...

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RBI/2016-17/111 DPSS.CO.PD.No./02.10.002/2016-2017 November 8, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs /Urban Co-operative Banks / State Co- operative Banks /District Central Co-operative Banks/ Authorised ATM Network Operators / Card Payment Network Operators/White Label ATM Operators Madam / Sir, ATMs –Non-dispensing of Old High Denomination Notes – Closure of operations The Government of In...

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RBI/2016-17/110 A.P. (DIR Series) Circular No. 15 November 07, 2016 To All Category-I Authorised Dealer Banks Madam / Dear Sir External Commercial Borrowings (ECB) – Clarifications on hedging Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.i and 3 ofA.P. (DIR Series) Circular No.56 dated March 30, 2016and paragraph no. 2.5 ofMaster Direction No.5 dated January 1, 2016on ‘External Commercial Borrowings, Trade Credit, Borrowin...

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RBI/2016-17/107 A.P. (DIR Series) Circular No. 14 November 03, 2016 To All Category-I Authorised Dealer Banks Madam / Dear Sir Issuance of Rupee denominated bonds overseas by Indian banks Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the measures announced by the Reserve Bank on August 25, 2016 for development of Fixed Income and Currency Markets in India which, inter alia, proposed to permit banks to issue Rupee Denominated Bonds overseas f...

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RBI/2016-17/106 DCM (CC) No.1170/03.41.01/2016-17 November 02, 2016 The Chairman & Managing Director / Chief Executive Officer, All Banks Madam / Dear Sir, Dispensation of Rs.100 denomination banknotes through exclusive ATMs Please refer to ourcircular DCM (CC) G-10/3352/03.41.01/2015-16 dated May 5, 2016on the Currency Circulation and Exchange Scheme (CDES). 2. A review of steps taken by banks for installing ATMs dispensing lower denomination banknotes was conducted and...

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F.No.279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Circular No. 37/2016- Income Tax, Dated: November 2, 2016 Subject: Chapter VI-A deduction on enhanced profits – Reg. Chapter VI-A of the Income-tax Act, 1961 (“the Act”), provides for deductions in respect of certain incomes. In computing the profits and gains of a business activity, the Assessing Officer may make certa...

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General Circular No. 12/2016 F. No. MCA 21/153/2012-E-Gov Cell Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-1 Dated: 27.10.2016 To The Regional Directors, All Registrar of Companies All Stakeholders Subject: Relaxation of additional fee and extension of last date of in filing AOC-4, AOC-4 (XBRL) AOC-4 (CFS) and MGT-7 e-forms under the Companies Act, 2013-regarding Sir, In...

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Category : Companies Act | Comments : 0 | Hits : 437

G.S.R. 1004(E).—In exercise of the powers conferred by section 68 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), the Central Government hereby makes the following rules, namely:-...

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Category : Income Tax | Comments : 0 | Hits : 767

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 25th of October, 2016 Order under section 119 of Income-tax Act, 1961 Subject: Issue of Intimation under section 143(1) of Income-tax Act, 1961 beyond the prescribed time in non-scrutiny cases-reg.- It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 201...

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Category : Income Tax | Comments : 0 | Hits : 1067

Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg. The Finance Act, 2016, inter alia, inserted a new Chapter XII-EB consisting of sections 115TD, 115TE and 115TF in the Income-tax Act, 1961 (the Act). This chapter contains specific provisions relating to levy of additional income-tax where the charitable institution exempt under the Act ceases to exist as charitable organization o...

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Kind attention is invited to Circular No. 43/2016-Customs dated 31.8.2016 on the above cited subject. The field formations are informed for necessary action that with reference to Para 11 of the said Circular, the address of the Textile Commissioner for communication is “Nishta Bhawan, New CGO Building, 48, New Marine Lines, Mumbai-400020” and email ID is “txc-otxc@nic.in”. In para 12 of the said Circular there is reference to monthly email from the Systems Directorate (a...

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Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares 40BB. Amount received by the company in respect of issue of share....

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F.No. 225/195/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi Date- 18th October, 2016 Order under Section 119 of the Income-tax Act, 1961 In order to mitigate the difficulties being faced by the taxpayers in the State of Jammu & Kashmir in filing income tax returns and reports of audit for Assessment Year 2016-2017 by the ‘due date’, as prescribed under section 139(1)...

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Category : Income Tax | Comments : 0 | Hits : 712

F.No. 279/Misc/M-77/2011-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ARO Division) New Delhi, the 18th October, 2016 To, All Principal Chief Commissioners of Income Tax. Madam/ Sir, Sub:- Modifications to the Instruction No. 6/2016 for engagement of Special Public Prosecutors (SPPs) to represent the Income Tax Department before Courts of Session and its subordinate courts- Reg. × Ref:- CBDT Instruction No. 6/201...

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Category : Income Tax | Comments : 0 | Hits : 696

RBI/2016-17/81DBR.NBD.No.26/16.13.218/2016-17 October 6, 2016 Chief Executive Officers of Small Finance Banks Madam / Dear Sir, Operating Guidelines for Small Finance Banks Please refer to theGuidelines for Licensing of Small Finance Banks (‘Licensing Guidelines’) dated November 27, 2014, under which in-principle approvals / licences were issued to the applicants for setting up of the small finance banks. 2. The need for separate Operating Guidelines for small finance banks was...

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RBI/2016-17/80DBR.NBD.No.25/16.13.218/2016-17 October 6, 2016 Chief Executive Officers of Payments Banks Madam / Dear Sir, Operating Guidelines for Payments Banks Please refer to theGuidelines for Licensing of Payments Banks (‘Licensing Guidelines’) dated November 27, 2014, under which in-principle approvals/ licences were issued to the applicants for setting up of the payments banks. 2. The need for separate Operating Guidelines for payments banks was examined, considering the...

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RBI/2016-2017/79FIDD.CO.Plan.CO.BC.No.17/04.09.001/2016-17 October 6, 2016 The Chairman / Managing Director /Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)] Madam/Dear Sir, Priority Sector Lending - Revised Reporting System Priority Sector guidelines were revised videcircular FIDD.CO.Plan.BC.54/04.09.01/2014-15 dated April 23, 2015. Accordingly, quarterly and annual monitoring formats for reporting priority sector lending were issued videcircular FIDD...

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RBI/2016-17/78A.P. (DIR Series) Circular No. 05 October 06, 2016 ToAll Category - I Authorised Dealer Banks Madam/Sir, Import Data Processing and Monitoring System (IDPMS) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.65 dated April 28, 2016read with Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Management (Current Acc...

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Circular No. 46 - Dated 04-10-2016,Guidelines for launching of prosecutions in relation to offences punishable under Custom Act...

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Category : Custom | Comments : 0 | Hits : 380

RBI/2016-17/75 REF.No.MPD.BC.381/07.01.279/2016-17 Ashwina 12,1938(Saka) October 4, 2016 To All Primary Dealers Dear Sir/Madam, Standing Liquidity Facility for Primary Dealers Please refer to theFourth Bi-monthly Monetary Policy Statement, 2016-17-Resolution of the Monetary Policy Committee (MPC), in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect. 2. Ac...

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RBI/2016-17/74 DBR.No.Ret.BC.19/12.01.001/2016-17 October 04, 2016 The Chairperson / CEOs of all Scheduled and Non-Scheduled Banks, Dear Sir, Change in Bank Rate Please refer tocircular DBR.No.Ret.BC.90/12.01.001/2015-16 dated April 05, 2016on the captioned subject. 2. As announced in theFourth Bi-Monthly Monetary Policy Statement 2016-17 dated October 04, 2016, the Bank Rate stands adjusted by 25 basis points from 7.00 per cent to 6.75 per cent with effect from October 04, 20...

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Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 1st October, 2016 G.S.R. …… (E).— In exercise of the powers conferred by 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 (Incorporation) Rules, 2014, namely: — 1. (1) These rules may he called the Companies (Incorporation) fourth Amendment Rules, 2016. (2) Sav...

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Category : Companies Act | Comments : 0 | Hits : 492

RBI/2016-17/72 A.P. (DIR Series) Circular No. 4 September 30, 2016 To, All Authorised Persons Madam/Sir Investment by Foreign Portfolio Investors (FPI) in Government Securities Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA.20/2000- RB dated May 3, 2000, as amended from time to time....

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Circular No. 201/11/2016 - Service Tax, Dated 30/09/2016 -Guidelines for arrest in relation to offences punishable under the finance act 1994 & central excise act 1994....

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Category : Service Tax | Comments : 0 | Hits : 480