Clarification on issues regarding levy of Service Tax on the services provided by Government or a local authority to business entities -
Posted Date : 15-Apr-2016 , 07:38:18 am | Posted By: CASANSAAR
Any service provided by Government or a local authority to a business entity has been made taxable w.e.f 1st April 2016. Post Budget 2016, representations have been received from several quarters including business and industry associations in respect of various aspects pertaining to the taxation of such services. Accordingly, the following clarifications are issued:-...
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Service Tax |
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Relaxation of additional fees and extension of last date of filing of various e-Forms under the Companies Act
Posted Date : 15-Apr-2016 , 07:35:28 am | Posted By: CASANSAAR
Relaxation of additional fees and extension of last date of filing of various e-Forms under the Companies Act. General Circular 03/2016 Dated 12-04-2016...
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Companies Act |
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Overseas Direct Investment - Submission of Annual Performance Report
Posted Date : 14-Apr-2016 , 01:05:44 pm | Posted By: Mahender
To
All Category - I Authorised Dealer Banks
Madam/Sir,
Overseas Direct Investment - Submission of Annual Performance Report
Attention of the Authorised Dealer (AD - Category I) banks is invited to 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), as amended from time to time. Attention of AD Category – I banks is also invited toA. P. (DIR Se...
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RBI |
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Acceptance of deposits by Indian companies from a person resident outside India for nomination as Director
Posted Date : 14-Apr-2016 , 12:40:54 pm | Posted By: Mahender
To
All Authorised Dealer Banks
Madam / Sir,
Acceptance of deposits by Indian companies from a person resident outside India for nomination as Director
Attention of Authorised Dealers Banks is invited to Regulation 3 of the Foreign Exchange Management (Deposit) Regulations, 2016, notified videNotification No. FEMA 5(R)/2016-RB dated April 1, 2016, in terms of which no person resident in India shall accept any deposit from, or make any deposit with, a person resident outside India.
...
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RBI |
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Non-Banking Financial Company-Micro Finance Institutions (Reserve Bank) Directions, 2011 – Acting as Channelizing Agents for Schemes operated by Central/State Government Agencies
Posted Date : 14-Apr-2016 , 12:34:47 pm | Posted By: Mahender
To
All NBFC-MFIs,
Dear Sir/Madam,
Non-Banking Financial Company-Micro Finance Institutions (Reserve Bank) Directions, 2011 – Acting as Channelizing Agents for Schemes operated by Central/State Government Agencies
Please refer to the Non-Banking Financial Company -Micro Finance Institutions (NBFC-MFIs) (Reserve Bank) Directions, 2011 (the Directions) issued by Reserve Bank of India (the Bank) videNotification DNBS.PD.No.234/ CGM (US)- 2011 dated December 02, 2011as modified from time to...
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RBI |
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Security / Inspection needs and Movement of Treasure
Posted Date : 14-Apr-2016 , 12:29:33 pm | Posted By: Mahender
The Chairman & Managing DirectorChief Executive Officer / Managing DirectorAll Banks having Currency Chests
Madam / Dear Sir,
Security / Inspection needs and Movement of Treasure
Please refer to the guidelines contained in the Technical specifications issued by us vide DCM (CC) No. G-18/03.39.01/2008-09 dated November 14, 2008 in respect of construction of new CCs, wherein the banks were advised to maintain Smoke Detection and Fire Alarm System, as also the Fire Fighting System in good wo...
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RBI |
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Scheme for providing Financial Assistance to Urban Cooperative Banks for Implementation of Core Banking Solution
Posted Date : 14-Apr-2016 , 12:24:01 pm | Posted By: Mahender
Chief Executive OfficersPrimary (Urban) Cooperative Banks
Dear Sir/Madam
Scheme for providing Financial Assistance to Urban Cooperative Banks for Implementation of Core Banking Solution
As announced in the First Bi-monthly Monetary Policy Statement-2016-17 dated April 05, 2016 (copy enclosed), it has been decided to prescribe standards and benchmarks for CBS in UCBs and provide financial assistance and technology support through Institute for Development and Research in Banking Technology (ID...
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RBI |
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Due date for filing revised return of assets and liabilities by public servants extended to 31/07/2016
Posted Date : 13-Apr-2016 , 07:38:58 am | Posted By: CASANSAAR
PUBLIC SERVANTS (FURNISHING OF INFORMATION AND ANNUAL RETURN OF ASSETS AND LIABILITIES AND THE LIMITS FOR EXEMPTION OF ASSETS IN FILING RETURNS) AMENDMENT RULES, 2016 - AMENDMENT IN RULE 3
NOTIFICATION NO. GSR 414(E) [F.NO.407/12/2014-AVD-IV(B)],DATED 11-4-2016
In exercise of the powers conferred by sub-section (1) read with clause (k) and clause (m) of sub-section (2) of section 59 read with section 44 of the Lokpal and Lokayuktas Act, 2013 (1 of 2014), the Central Government hereby m...
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Income Tax |
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ICSI allows 10 Secretarial Audits for practicing Company Secretaries for F.Y. 2016-17
Posted Date : 12-Apr-2016 , 07:02:19 am | Posted By: CASANSAAR
SECTION 204 OF THE COMPANIES ACT, 2013 - SECRETARIAL AUDIT FOR BIGGER COMPANIES - FAQs ON LIMITS OF SECRETARIAL AUDIT
PRESS RELEASE,DATED 9-4-2016
1. What is the limit for the issue of Secretarial Audit Reports for financial year 2016-17?
The Council of the Institute at its 235th meeting held on February 11, 2016 reviewed the existing limits for the issue of Secretarial Audit Reports and decided as below:
♦
10 Secretarial Audits per partner/ PCS, and
...
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Companies Act |
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CBEC prescribes new procedure to deal with audit objections of Central Excise Revenue Audit
Posted Date : 09-Apr-2016 , 08:30:34 am | Posted By: CASANSAAR
CBEC prescribes new procedure to deal with audit objections of Central Excise Revenue Audit....
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Excise |
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Priority Sector Lending Certificates
Posted Date : 08-Apr-2016 , 07:53:25 am | Posted By: CASANSAAR
RBI/2015-16/366
FIDD.CO.Plan.BC.23/04.09.01/2015-16
April 7, 2016
The Chairman/ Managing Director/
Chief Executive Officer
[All Scheduled Commercial Banks
(including Regional Rural Banks)/
Urban Co-operative Banks/ Local Area Banks]
Dear Sir/ Madam,
Priority Sector Lending Certificates
Please refer to Para VIII ofCircular FIDD.CO.Plan.BC 54/04.09.01/2014 – 15 dated April 23, 2015on Priority Sector Lending - Targets and Classifications about introduction of Priority Sect...
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RBI |
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Applicability of Concentration of Credit/ Investment Norms
Posted Date : 08-Apr-2016 , 07:51:47 am | Posted By: CASANSAAR
RBI/2015-16/363
DNBR (PD) CC.No.077/03.10.001/2015-16
April 7, 2016
All Systemically Important Non- Deposit accepting or Holding
Non-Banking Financial Companies (NBFC-NDSI)
Madam/ Sir,
Applicability of Concentration of Credit/ Investment Norms
In terms of second proviso to sub para (1) of para 24 of the Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015, any non-banking financial company not ...
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RBI |
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Revision of interest rates for Small Savings Schemes
Posted Date : 08-Apr-2016 , 07:50:57 am | Posted By: CASANSAAR
RBI/2015-16/362
DGBA.GAD.3175/15.02.005/2015-16
April 07, 2016
The Chairman/Chief Executive Officer
Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014,
Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004
Dear Sir
Revision of interest rates for Small Savings Schemes
Please refer to ourcircular RBI/2014-15/536 dated April 1, 2015on the above subject. The Government of India, have vide their Office Memorandum (OM) No.F.No. 1/04/2016 –NS.II dated M...
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Category :
PAN |
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Oversight of Government Business in Agency Banks
Posted Date : 08-Apr-2016 , 07:50:03 am | Posted By: CASANSAAR
RBI/2015-16/361
DGBA.GAD.No-3147/44.01.001/2015-16
April 07, 2016
The Chairman/ Managing Director/ Chief Executive Officer/
Agency Banks
Dear Sir/ Madam
Oversight of Government Business in Agency Banks
As you are aware, in terms of the agency agreement entered into with agency banks for conduct of government business, the Reserve Bank of India carries out periodical review/inspection of government business. We have so far been conducting such review/inspection at select branches...
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RBI |
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Deendayal Antyodaya Yojana (DAY)-National Urban Livelihoods Mission
Posted Date : 08-Apr-2016 , 07:49:06 am | Posted By: CASANSAAR
RBI/2015-16/360
FIDD.GSSD.CO.BC.No.22/09.16.03/2015-16
April 07, 2016
The Chairman/ Managing Director
All Scheduled Commercial Banks
Dear Sir/Madam,
Deendayal Antyodaya Yojana (DAY)-National Urban Livelihoods Mission
Please refer toMaster circular FIDD.GSSD.CO.BC.No.10/09.16.03/2015-16 dated July 30, 2015on National Urban Livelihoods Mission (NULM) Scheme.
2. With a view to improving the livelihood opportunities for the poor in urban areas, Ministry of Housing and Urban Pover...
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Category :
RBI |
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Change in Daily Minimum Cash Reserve Maintenance Requirement
Posted Date : 06-Apr-2016 , 07:55:43 am | Posted By: CASANSAAR
RBI/2015-16/359
DBR.No.Ret.BC.91 /12.01.001/2015-16
April 5, 2016
The Chairperson /CEOs of all Scheduled Commercial Banks/ Regional Rural Banks /
All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks
Dear Sir / Madam,
Section 42(1) of the Reserve Bank of India Act, 1934 - Change in
Daily Minimum Cash Reserve Maintenance Requirement
Please refer to ourCircular DBOD.No.Ret.BC.55/12.01.001/2013-14;UBD.BPD.(SCB).CIR No.2/12.03.000/2013-14andRPCD....
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RBI |
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Change in Bank Rate
Posted Date : 06-Apr-2016 , 07:54:44 am | Posted By: CASANSAAR
RBI/2015-16/358
DBR.No.Ret.BC.90/12.01.001/2015-16
April 05, 2016
The Chairperson / CEOs of all Scheduled and Non-Scheduled Banks
Dear Sir / Madam,
Change in Bank Rate
Please refer to ourcircular DBR.No.Ret.BC.42/12.01.001/2015-16 dated September 29, 2015on the captioned subject.
2. As announced in theFirst Bi-Monthly Monetary Policy Statement 2016-17 dated April 05, 2016, the Bank Rate stands adjusted by 75 basis points from 7.75 per cent to 7.0 per cent with effect from Apri...
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RBI |
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 06-Apr-2016 , 07:54:07 am | Posted By: CASANSAAR
RBI/2015-2016/357
FMOD.MAOG. No. 112 /01.01.001/2015-16
April 05, 2016
All Scheduled Commercial Banks (excluding RRBs), Scheduled Urban Co-operative Banks and Standalone Primary Dealers
Madam / Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced in the Monetary policy by the Governor today, it has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.75 per cent to6.50 per cent.
Further, the...
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Category :
RBI |
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Marginal Standing Facility
Posted Date : 06-Apr-2016 , 07:53:09 am | Posted By: CASANSAAR
RBI/2015-2016/356
FMOD.MAOG. No.113 /01.18.001/2015-16
April 5, 2016
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility
As announced by the Governor today, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 75 basis points from 7.75 per cent to7.00 percentwith immediate effect.
All other terms and conditions of the current MSF scheme will remain unchanged.
Yours sincerely
(M. Rajeshwar Rao)
Chief General Manag...
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RBI |
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Standing Liquidity Facilities for Primary Dealers
Posted Date : 06-Apr-2016 , 07:51:53 am | Posted By: CASANSAAR
RBI/2015-16/355
REF.No.MPD.BC.380 /07.01.279/2015-16
Chaitra 16, 1938 (Sake)
April 5, 2016
To
All Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities for
Primary Dealers
Please refer to theFirst Bi-monthly Monetary Policy statement 2016-17 by Dr. Raghuram G Rajan, Governor dated April 5, 2016, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 6.75 per cent to 6.50 per cent with immediate effect.
...
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RBI |
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CBDT enables e-filing of ITR 1, ITR-4S and Form 15CA/15CB
Posted Date : 05-Apr-2016 , 08:29:24 am | Posted By: CASANSAAR
In pursuance of the Notification of the Income Tax Returns (ITR) for AY 2016-17 on March 31st, 2016, Central Board of Direct Taxes announces the release of electronic filing of ITRs 1 and 4S on its website https://incometaxindiaefiling.gov.in. Other ITRs will be e-enabled shortly.
Online filing of Appeal before Commissioner (Appeal) using newly notified Form 35 has been enabled for taxpayers mandated to E-file their returns using Digital Signature Certificate. Electronic Verification Code (EV...
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CBDT |
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Gold Monetisation Scheme, 2015
Posted Date : 01-Apr-2016 , 07:16:39 am | Posted By: CASANSAAR
RBI/2015-16/353
DBR.IBD.BC.89/23.67.001/2015-16
March 31, 2016
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/Madam,
Gold Monetisation Scheme, 2015
In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, theReserve Bank of India hereby directs that the Reserve Bank of India(Gold Monetisation Scheme, 2015)Master Direction No.DBR.IBD.No.45/23.67.003/2015-16...
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Category :
RBI |
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Risk Based Supervision – Follow up of Risk Management Systems in Banks
Posted Date : 01-Apr-2016 , 07:15:46 am | Posted By: CASANSAAR
RBI/2015-16/352
DBS.CO.PPD.10887/11.01.005/2015-16
March 31, 2016
The Chairman/ The Chief Executive Officer
All Scheduled Commercial Banks
(Excluding RRBs)
Madam/Dear Sir,
Risk Based Supervision – Follow up of Risk Management Systems in Banks
We invite your kind attention to the provisions contained in ourCircular No. DBS.CO.PPD.BC/14//11.01.005/2003-04dated June 26, 2004, in ter...
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Category :
RBI |
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Import of Rough, Cut and Polished Diamonds
Posted Date : 01-Apr-2016 , 07:14:28 am | Posted By: CASANSAAR
RBI/2015-16/351
A.P. (DIR Series) Circular No.57
March 31, 2016
To,
All Authorised Dealer Category – I Banks
Madam/ Sir,
Import of Rough, Cut and Polished Diamonds
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to theA.P.(DIR Series) Circular No.2 dated July 7, 2014and para no C.12.1(a) ofMaster Direction no. 17 dated January 01, 2016on Import of Goods and Services, in terms of which AD Category - I banks were permitted to approve Clean Cr...
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Category :
FEMA |
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Foreign Direct Investment (FDI) in India – Review of FDI policy –Insurance sector
Posted Date : 01-Apr-2016 , 07:13:26 am | Posted By: CASANSAAR
RBI/2015-16/350
A.P. (DIR Series) Circular No.58
March 31, 2016
To
All Authorised Dealer Category – I Banks
Madam/Sir,
Foreign Direct Investment (FDI) in India – Review of FDI policy –Insurance sector
Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside In...
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Category :
FEMA |
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MCA notifies CARO, 2016, applicable on or after April 1, 2015
Posted Date : 31-Mar-2016 , 07:33:15 am | Posted By: CASANSAAR
S.O...............(E).-In exercise of the powers conferred by sub_section (ll) of section 143 of the Companies Act, 2013 (18 of 2013 ) and in supersession of the Companies (Auditor's Report) Order, 2015 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 990 (E), dated the loth April, 2015, except as rcspects things done or omitted to be done before such supersession, the Central (iovernment, aftcr consultation with thc, committce constitu...
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Category :
Companies Act |
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Companies (Indian Accounting Standards) Amendment Rules, 2016
Posted Date : 31-Mar-2016 , 07:27:59 am | Posted By: CASANSAAR
Companies (Indian Accounting Standards) Amendment Rules, 2016.
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Category :
Companies Act |
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Companies (Accounting Standards) Amendment Rules, 2016
Posted Date : 31-Mar-2016 , 07:26:28 am | Posted By: CASANSAAR
Companies (Accounting Standards) Amendment Rules, 2016
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Category :
Companies Act |
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External Commercial Borrowings (ECB) – Revised framework
Posted Date : 31-Mar-2016 , 07:19:42 am | Posted By: CASANSAAR
RBI//2015-16/349
A.P. (DIR Series) Circular No.56
March 30, 2016
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) – Revised framework
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.32 dated November 30, 2015and paragraph no. 1.8, 2.2, 2.4.1, 2.4.2, 2.4.5, 2.4.6, 2.5, 2.16 and 2.16.xiii ofMaster Direction No.5 dated January 1, 2016on External Commercial Borrowings, Trade...
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Category :
FEMA |
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Investment by Foreign Portfolio Investors (FPI) in Government Securities
Posted Date : 29-Mar-2016 , 10:09:45 pm | Posted By: CASANSAAR
RBI/2015-16/348
A.P. (DIR Series) Circular No. 55
March 29, 2016
To,
All Authorised Persons
Madam/ Sir,
Investment by Foreign Portfolio Investors (FPI) in Government Securities
Attention of Authorized 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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Category :
FEMA |
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