Issue of Long Term Bonds by banks for Financing of Infrastructure and Affordable Housing – Cross Holding
Posted Date : 02-Jun-2015 , 07:57:53 am | Posted By: CASANSAAR
RBI/2014-15/618
DBR.BP.BC.No.98/08.12.014/2014-15
June 01, 2015
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir,
Issue of Long Term Bonds by banks for Financing of Infrastructure and Affordable Housing – Cross Holding
Please refer to ourcircular DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014allowing banks to issue long term bonds, with exemptions from certain regulatory pre-emptions, for their financing of infrastructure and affordable housing loans. Furth...
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RBI |
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RBI fixes USD 2,50,000 for remittances by individual for aggregate of certain current account transactions
Posted Date : 30-May-2015 , 08:01:47 am | Posted By: CASANSAAR
FEMA/ILT/INDIAN ACTS & RULES : Fem (Current Account Transactions) Amendment Regulations, 2015 – Substitution of Rule 5 & Schedule III.
RBI fixes USD 2,50,000 for remittances by individual for aggregate of certain current account transactions...
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FEMA |
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RBI Circular - Hedging of Commodity Price Risk - Creating awareness among borrowers
Posted Date : 28-May-2015 , 06:19:51 pm | Posted By: Aarti Sharma
RBI/2014-15/612
DBR.No.BP.BC.96 /21.04.157/2014-15
May 28, 2015
The Chairman and Managing Director/Chief Executive Officer
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir / Madam,
Hedging of Commodity Price Risk - Creating awareness among borrowers
Banks provide a number of credit facilities to customers engaged in activities related to agriculture. One of the prominent,albeitindirect, risks in this sector is that of volatility in agricultural commodity...
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RBI |
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RBI Circular - National Urban Livelihoods Mission (NULM ) - Reporting Format
Posted Date : 28-May-2015 , 06:18:30 pm | Posted By: Aarti Sharma
RBI/2014-15/613
FIDD.CO.GSSD.BC.No.57/09.16.003/2014 - 15
May 28, 2015
The Chairman / Managing Director
All Scheduled Commercial Banks
Dear Sir,
National Urban Livelihoods Mission (NULM ) - Reporting Format
Please refer to ourCircular RPCD.CO.GSSD.BC.No.26/09.16.03/2014-15 dated August 14, 2014on Self Employment Programme (SEP) under National Urban Livelihoods Mission (NULM).
2. In order to monitor progress of thetargetsvis a visachievementunder NULM, Banks are advised to fur...
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RBI |
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Regarding Import, trading & re-export of rough diamonds by notified entities in Bharat Diamond Bourse, Bandra Kurla Cargo Complex, Mumbai
Posted Date : 26-May-2015 , 08:54:35 pm | Posted By: CASANSAAR
Circular no. 17/2015 - Customs
F. No: 451/13/2015 Cus V
Govt. of India
Ministry of Finance
Dept. of Revenue
Central Board of Excise & Customs
******
Dated 26thMay 2015, New Delhi
To
The Chief Commissioner of Customs,Mumbai - III
The Commissioners of Customs - II, Airport Special Cargo, Mumbai
The Director General of Export Promotion, New Delhi
The Director General of Systems & Data Management, New Delhi
The Director General of Revenue Intelligence, New Delhi
Madam...
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Custom |
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Govt. withdraws old Ind AS notified in 2011
Posted Date : 25-May-2015 , 08:00:19 am | Posted By: CASANSAAR
In exercise of the powers conferred by section 133 read with section 469 of the companies Act, 2013 (18 0f 20131 , the central Government hereby rescinds the notifications ofthe Government of India in the Ministry ofCorporate Affairs, published jn the Gazette of tndia, Extraordinary, Part ll, Section (3), 5ub-section (i), vide number G.S.R 179 (E), dated the 3.d March, 2011 and G,S.R 650 (E), dated the 29th August 2011, with immediate effect, except as respects thinSs done or omitted to be done ...
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Corporate Laws |
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TDS on withdrawal from Provident Fund w.e.f 01/06/2015
Posted Date : 23-May-2015 , 08:32:16 am | Posted By: CASANSAAR
Employees Provident Fund Organisation
(Ministry of Labour, Govt. of India)
Bhavishya Nidhi Bhawan,
14- Bhikaji Came Place, New Delhi – 110066
No. WSU/6(1)2011/IT/Vol-IV/5931 Dated- 21.05.2015
To,
All Addl. CPFC (Zones)
All RPFC/OIC of ROs/SR0s.
Sub:Amendmentin Section 192A of the IT Act, 1961- Instructions or deduction of TDS onwithdrawalfrom PF.
Ref: Head Officecircularof even number dated 16,03.2015.
Sir/Madam,
TheFinance Act, 2015 (20 of 20...
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Income Tax |
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CBDT unveils draft rules to apply multiple year's data and 'range concept' for determination of ALP
Posted Date : 23-May-2015 , 07:59:54 am | Posted By: CASANSAAR
Draft scheme of the proposed rules for computation of Arm’s Length Price (ALP) of an International Transaction or Specified Domestic Transaction undertaken on or after 01.04.2014.
Section 92C of the Income Tax Act, 1961 (the “Act”) provides for computation of Arm’s Length Price (ALP) of an international transaction or specified domestic transaction....
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CBDT |
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RBI - Rupee Drawing Arrangement - Increase in trade related remittance limit
Posted Date : 21-May-2015 , 06:15:43 pm | Posted By: Aarti Sharma
RBI/2014-15/603
A. P. (DIR Series) Circular No. 102
May 21, 2015
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Rupee Drawing Arrangement - Increase in trade related remittance limit
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Part (B) of Annex-I to theA.P. (DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 6, 2008on Memorandum of Instructions for Opening and Maintenance of Rupee/ Forei...
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RBI |
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RBI - Scheme of Incentives & Penalties – Review
Posted Date : 21-May-2015 , 06:14:28 pm | Posted By: Aarti Sharma
RBI/2014-15/604
DCM (CC) No. 4846/03.41.01/2014-15
May 21, 2015
The Chairman & Managing Director /
Chief Executive Officer,
All Banks
Madam / Dear Sir,
Scheme of Incentives & Penalties – Review
Please refer to ourMaster Circular DCM (CC) No.G-5/03.39.01/2014-15 dated July 1, 2014on the captioned subject.
2. As you are aware, the scheme of Incentives & Penalties was introduced in 2008 and has been revised expanding...
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RBI |
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RBI - Lending against security of single product - Gold Jewellery
Posted Date : 21-May-2015 , 06:13:10 pm | Posted By: Aarti Sharma
RBI/2014-15/605
DNBR.CC.PD.No.036/03.10.01/2014-15
May 21, 2015
To
All NBFCs (excluding PDs)
Dear Sirs,
Lending against security of single product - Gold Jewellery
Please refer to thecirculars DNBS.CC.PD.No.356/03.10.01/2013-14 dated September 16, 2013andDNBS.CC.PD.No.365/03.10.01/2013-14 dated January 08, 2014on the captioned subject.
2. The Bank has prescribed that the valuation of gold jewellery for arriving at the Loan-To-Value (LTV) shall be done at the average of the cl...
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RBI |
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RBI - SHG-Bank Linkage Programme – Revision of progress reports
Posted Date : 21-May-2015 , 06:11:52 pm | Posted By: Aarti Sharma
RBI/2014-15/607
FIDD.FID.BC.No.56/12.01.033/2014-15
May 21, 2015
The Chairman / Managing Director
Chief Executive Officer
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir / Madam,
SHG-Bank Linkage Programme – Revision of progress reports
In terms of ourCircular RPCD.CO.MFFI.BC.No.103/12.01.01/2006-07 dated June 20, 2007on Microfinance – Submission of progress report andMaster Circular RPCD.FID.BC.No.06/12.01.033/2014-15 dated July 01, 2014on SHG Bank Linkag...
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Income Tax |
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RBI - External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – Mobilisation of INR
Posted Date : 21-May-2015 , 06:10:17 pm | Posted By: Aarti Sharma
RBI/2014-15/608
A. P. (DIR Series) Circular No. 103
May 21, 2015
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – Mobilisation of INR
Attention of Authorized Dealers Category – I (AD Cat – 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, 2000], as amended ...
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RBI |
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Seeks to exempt certain services under Power System Development Fund (PSDF) Scheme of Ministry of Power
Posted Date : 21-May-2015 , 07:55:27 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
(Department of Revenue)
Notification No.
17/2015-Service Tax
New Delhi, the 19 th May, 2015
G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services provided under the Power System Development Fund Scheme of the Ministry of Power (hereinafter referred to ...
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Service Tax |
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Seeks to enforce certain provisions of the notification No. 06/2015- ST, dated the 1st March, 2015, with effect from 1st June, 2015
Posted Date : 21-May-2015 , 07:52:31 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION No. 16/2015-Service Tax
New Delhi, the 19th May, 2015
G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby appoints the 1st day of June, 2015 as the date on which the provisions of sub-paragraphs (ix) and (xii) of paragraph 1 and...
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Service Tax |
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Service Tax - Seeks to enforce certain provisions of the notification No. 05/2015- ST, dated the 1st March, 2015, w.e.f. 1st June, 2015
Posted Date : 21-May-2015 , 07:49:59 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION No. 15/2015-Service Tax
New Delhi, the 19th May, 2015
G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby appoints the 1st day of June, 2015 as the date on which the provisions of sub-clauses (a), (b) and (c) and item (A) of sub-clause (d) of clause (ii) of sub-paragraph (e)...
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Service Tax |
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Service Tax - Seeks to enforce certain provisions of the Finance Act, 2015, with effect from 1st June, 2015
Posted Date : 21-May-2015 , 07:46:59 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION
New Delhi, the 19th May, 2015
No. 14/2015-Service Tax
G.S.R. ---(E).- In exercise of the powers conferred by clauses (a), (c) and (f) of section 107, section 108, sub-sections (2), (3) and (4) of section 109, section 153 and section 159 of the Finance Act, 2015 (No. 20 of 2015), the Central Government hereby appoints the 1st day of June, 2015 as the date on which the provisions of clauses (a), (c) and (f) of s...
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Service Tax |
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Service Tax - Seeks to amend notification No. 26/2012- ST, dated the 20th June, 2012
Posted Date : 21-May-2015 , 07:44:38 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION
New Delhi, the 19th May, 2015
No. 13/2015-Service Tax
G.S.R. ---(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenu...
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Service Tax |
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New Service Tax rate will come into effect from 1st June, 2015
Posted Date : 20-May-2015 , 08:30:01 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
D.O.F.No.334/5/2015-TRU, New Delhi, May 19, 2015.
Dear Principal Chief Commissioner / Chief Commissioner / Director General,
The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. In the Budget, 2015, certain amendments in the Finance Act, 1994 have been incorporated through the Finance Act, 2015, which will come into effect from a date to be notified. In...
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Service Tax |
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RBI urges taxpayers to remit their income-tax dues in advance to avoid last minute rush
Posted Date : 18-May-2015 , 10:43:24 pm | Posted By: CASANSAAR
The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks.
These will obviate the inconvenience involved in standing in long queues at the Reserve Bank offices. It is observed that the rush for remitting Income –Tax dues through the Reserve Bank of I...
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Income Tax |
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CBDT revises annual target of auditable cases for Add. CIT and internal audit parties
Posted Date : 16-May-2015 , 08:18:05 am | Posted By: CASANSAAR
CBDT revises annual target of auditable cases for Add. CIT and internal audit parties.
New Internal Audit System – Modification of Instruction No.3 of 2007...
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CBDT |
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CBDT prescribes procedure to provide online response to outstanding tax demands in case of e-filing of return
Posted Date : 14-May-2015 , 08:08:00 pm | Posted By: CASANSAAR
CBDT prescribes procedure to provide online response to outstanding tax demands in case of e-filing of return....
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Income Tax |
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RBI Circular - Provisioning pertaining to Fraud Accounts
Posted Date : 14-May-2015 , 06:05:42 pm | Posted By: Aarti Sharma
RBI/2014-15/594
DCBR.BPD (PCB/RCB) Cir.No.35/12.05.001/2014-15
May 14, 2015
The Chief Executive Officer
All Primary (Urban) Co-operative Banks /DCCBs/StCBs
Provisioning pertaining to Fraud Accounts
Please refer to the guidelines compiled inParagraph 3.3.1 (ii)of Master Circular on Prudential Norms on Income Recognition, Asset Classification and Provisioning and other related matters for UCBs dated July 1, 2014, and similar instructions for DCCBs & StCBs, in terms of which, in a...
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RBI |
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RBI Circular - Ready Forward Contracts in Corporate Debt Securities
Posted Date : 14-May-2015 , 06:04:05 pm | Posted By: Aarti Sharma
RBI/2014-15/595
FMRD.DIRD.08/14.03.002/2014-15
May 14, 2015
To All Market Participants
Ready Forward Contracts in Corporate Debt Securities
A reference is invited to ourcircular FMRD.DIRD.04/14.03.002/2014-15 dated February 3, 2015enclosing the Repo in Corporate Debt Securities (Reserve Bank) Directions, 2015. As indicated under paragraph 4 of the Directions, the following entities are eligible to enter into ready forward contracts in corporate debt securities:
i. Any scheduled c...
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RBI |
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RBI Circular- Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme
Posted Date : 14-May-2015 , 06:02:20 pm | Posted By: Aarti Sharma
RBI/2014-15/596
A.P. (DIR Series) Circular No. 98
May 14, 2015
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 2 of the Foreign Exchange Management (Deposit) Regulations, 2000, notified videNotification No. FEMA 5/2000-RB dated May...
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RBI |
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RBI Circular - Export of Goods and Services-Declaration of Exports of Goods/Software
Posted Date : 14-May-2015 , 05:59:50 pm | Posted By: Aarti Sharma
RBI//2014-15/599
A.P. (DIR Series) Circular No.101
May 14, 2015
To
All Authorised Dealers in Foreign Exchange
Madam / Sir,
Export of Goods and Services-
Declaration of Exports of Goods/Software
Attention of the Authorised Dealers is invited to Regulation 6 of theNotification No.FEMA 23/2000-RB dated May 3, 2000viz. Foreign Exchange Management (Export of Goods and Services) Regulations,...
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RBI |
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RBI Circular - Infrastructure Debt Funds (IDFs)
Posted Date : 14-May-2015 , 05:56:48 pm | Posted By: Aarti Sharma
RBI/2014-15/600
DNBR (PD) CC.No.035/03.10.001/2014-15
May 14, 2015
All NBFCs (excluding Primary Dealers)
Dear Sirs,
Infrastructure Debt Funds (IDFs)
Please refer to the Infrastructure Debt Fund-Non-Banking Financial Companies (Reserve Bank) Directions, 2011 issued videNotification No. DNBS.233/ CGM(US)-2011 dated November 21, 2011(the Directions) prescribing detailed guidelines on the regulatory framework for NBFCs to sponsor IDFs which are to be set up as NBFCs.
2. On a revie...
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RBI |
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Disclosures under SEBI (Prohibition of Insider Trading) Regulations, 2015
Posted Date : 11-May-2015 , 10:33:42 pm | Posted By: CASANSAAR
1. With reference to the requirements of regulation 6 of SEBI (Prohibition of Insider trading) Regulations 2015 (“the Regulations”),:-
i. Formats for disclosures are as Annexed.
ii. Such disclosures may be maintained by the company in physical/electronic mode....
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SEBI |
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VAT Circular - Online registration under MVAT Act, 2002 and CST Act,1956
Posted Date : 08-May-2015 , 07:57:14 am | Posted By: CASANSAAR
8th floor, Vikrikar Bhavan,
Mazgaon, Mumbai 400010.
TRADE CIRCULAR
To
No.JC (Reg) /uploading Document Regn/2015/346
Trade Circular No. 5T of 2015 Mumbai, dated 06.05.2015
Subject: Online grant of registration under the Maharashtra Value Added Tax Act, 2002 and Central Sales Tax Act, 1956.
The applications for registration under the MVAT Act, 2002 and the CST Act, 1956 are required to be submitted online. Once the application is uploaded the applicant is required to attend befo...
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VAT |
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RBI Circular - Framework for dealing with loan frauds
Posted Date : 07-May-2015 , 08:37:27 pm | Posted By: CASANSAAR
RBI Circular /2014-15/590
DBS.CO.CFMC.BC.No.007/23.04.001/2014-15
May 7, 2015
The Chairmen & Chief Executive Officers of
all Scheduled Commercial Banks (excluding RRBs)
and All India Select Financial Institutions
Dear Sir/Madam,
Framework for dealing with loan frauds
The rising trend in loan related frauds in the financial sector is a matter of serious concern. Equally disquieting is the delay in detection and reporting of such frauds by banks. The issues relating to pr...
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RBI |
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