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Uniform Accounting Standards at ARCs
Posted Date : 23-Apr-2014 , 09:14:26 pm | Posted By: CASANSAAR

RBI/2013-14/571DNBS (PD) CC. No. 38/SCRC/26.03.001/2013-14 April 23, 2014 The Chairman/Managing Director/Chief Executive OfficerAll registered Securitisation Companies/Reconstruction Companies Dear Sir, Uniform Accounting Standards at ARCs Please refer to ';The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003'; dated April 23, 2003 (herein after called Guidelines). 2. Pursuant to the recommendations of the Key Advisory Group (KAG) constit...

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Category : RBI | Comments : 0 | Hits : 7

No depreciation on development of roads/highways on BOT basis; development exp. to be amortized - CBDT clarifies
Posted Date : 23-Apr-2014 , 09:08:23 pm | Posted By: CASANSAAR

It has come to the notice of the Board that disputes have arisen as to whether theexpe diture incurred on development and construction of infrastructural facilities likeroad /highways on Build-Operate-Transfer ('BOT') basis with right to collect toll is entitledfor • epreciation under section 32(1)(ii) of the Act or the same can be amortized by treatingit as n allowable business expenditure under the relevant provisions of the Income-tax Act,196 ('Act')...

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Category : Income Tax | Comments : 0 | Hits : 8

Govt. notifies revised Form 'A' for 8% savings (taxable) bonds, 2003
Posted Date : 23-Apr-2014 , 09:04:22 pm | Posted By: CASANSAAR

8% SAVINGS (TAXABLE) BONDS, 2003 - AMENDMENT IN PARAGRAPH 9 NOTIFICATION NO F.4(10)- W&M/2003,DATED 21-4-2014 The Government of India hereby notifies that sub-paragraph (i) in Paragraph 9 (Applications) of the aforesaid Notification notified on March 21, 2003 shall be substituted by the following sub-paragraph namely:- "(i) Applications for the Bonds may be made in the Revised Form 'A' attached hereto or in any other form as near as thereto incorporating all the fields in the rev...

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Category : Income Tax | Comments : 0 | Hits : 7

Scaling up of the Business Correspondent (BC) Model – Issues in Cash Management
Posted Date : 22-Apr-2014 , 09:32:53 pm | Posted By: CASANSAAR

RBI/2013-14/570RPCD.FID.BC.No. 96/12.01.011/ 20013-14 April 22, 2014 The Chairman/ Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks Dear Sir/Madam, Scaling up of the Business Correspondent (BC) Model –Issues in Cash Management Please refer toPara 26 (Part B)of Governor's bi-monthly policy statement dated April 1, 2014 on the above subject. 2. In this connection, we advise that, after opening of large number of banking outlets in the last three years in hitherto...

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Category : RBI | Comments : 0 | Hits : 95

Reporting of information / data relating to Cash and Suspicious Transactions to the Director, Financial Intelligence Unit-India (FIU-IND)
Posted Date : 22-Apr-2014 , 09:32:21 pm | Posted By: CASANSAAR

RBI/2013-14/569DNBS(PD).CC. No.375 /03.10.42 /2013-14 April 22 , 2014 All Non Banking Financial Companies Dear Sir, Reporting of information / data relating to Cash and Suspicious Transactions to the Director, Financial Intelligence Unit-India (FIU-IND) Please refer to the circular DNBS.(PD).CC.No.339/03.10.42/2013-14 dated July 1, 2013 [para III (17)] on the above subject. 2. In terms of the extant instructions, NBFCs are required to report information / data relating to Cash and Suspicio...

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Category : RBI | Comments : 0 | Hits : 25

Fund/Non-Fund based Credit Facilities to Overseas Joint Ventures / Wholly Owned Subsidiaries / Wholly owned Step-down Subsidiaries of Indian Companies
Posted Date : 22-Apr-2014 , 09:31:45 pm | Posted By: CASANSAAR

RBI/2013-14/568DBOD.No.BP.BC.107/21.04.048/2013-14 April 22, 2014 The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Fund/Non-Fund based Credit Facilities toOverseas Joint Ventures / Wholly Owned Subsidiaries /Wholly owned Step-down Subsidiaries of Indian Companies Please refer to our circularDBOD.IBD.BC.No.96/23.37.001/2006-07 dated May 10, 2007, in terms of which banks were permitted to ex...

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Category : RBI | Comments : 0 | Hits : 73

Extend Of E-filing of P-VAT-15 for Quarter4 of Year 2013-14
Posted Date : 22-Apr-2014 , 05:34:38 pm | Posted By: CASANSAAR

on the demand by the Business community in general andAdvocates in particular, last date of e-filing of quarterly returns in the form VAT-15 forthe quarterending i.e.31-03-2014 is extended upto 31't May 2o14.lt is clarified that there is no change for the last date of payment of VAT....

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Category : VAT | Comments : 0 | Hits : 217

Foreign Direct Investment in Pharmaceuticals sector – clarification
Posted Date : 21-Apr-2014 , 10:19:16 pm | Posted By: CASANSAAR

RBI/2013-14/567A.P. (DIR Series) Circular No.124 April 21, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment in Pharmaceuticals sector – clarification Attention of Authorised Dealers Category – I (AD Category - I) banks is invited toA.P. (DIR Series) Circular No.56 dated December 9, 2011and the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified videNotification No...

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Category : FEMA | Comments : 0 | Hits : 95

Clarifications are being issued for Single Stage
Posted Date : 21-Apr-2014 , 07:47:19 pm | Posted By: HARPAL SINGH CHEEMA

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Category : VAT | Comments : 0 | Hits : 18

Ministry notifies Capital Investment Subsidy Scheme for industrial units located in HP and Uttarakhand
Posted Date : 20-Apr-2014 , 06:51:04 pm | Posted By: CASANSAAR

The Government of India is pleased to notify the extension of the following scheme of Central Grant or Subsidy under Special Package - II for Industrial units in the states of Himachal Pradesh and Uttarakhand with a view to accellerating the industrial development in these States. Short Title 1.This scheme may be called the Central Capital Investment Subsidy Scheme, 2013.It will be a Central Sector Scheme. Commencement and duration of the Scheme 2.It will come into effect from the 7th Januar...

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Category : Income Tax | Comments : 0 | Hits : 168

CBDT optimist on Standard Operating Procedure; Urges taxpayers to file rectification request for TDS mismatches
Posted Date : 19-Apr-2014 , 07:46:51 am | Posted By: CASANSAAR

SECTION 139D OF THE INCOME-TAX ACT, 1961 - FILING OF RETURN IN ELECTRONIC FORM - EXTENSION OF FACILITY TO TAXPAYERS TO VERIFY IF DEMAND IN THEIR CASE IS DUE TO TAX CREDIT MISMATCH ON ACCOUNT OF INCORRECT FURNISHING OF SPECIFIED PARTICULARS AND SUBMIT RECTIFICATION REQUESTS WITH CORRECT PARTICULARS OF TDS/TAX CLAIMS FOR CORRECTION OF THESE DEMANDS PRESS NOTE NO.402/92/2006-MC,DATED 17-4-2014 Detailed instructions have been issued by the CBDT to all the assessing officers laying down a Stand...

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Category : Income Tax | Comments : 0 | Hits : 277

Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP)
Posted Date : 18-Apr-2014 , 08:03:29 am | Posted By: May I Help You.

RBI/2013-14/566A.P. (DIR Series) Circular No. 123 April 16, 2014 To,All Category – I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Schedule I to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (The Principal Regulations), notified videNotification No. FEMA 20/2000-RB dated Ma...

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Category : FEMA | Comments : 0 | Hits : 207

Financial Benchmarks- Governance Framework for Benchmark Submitters
Posted Date : 16-Apr-2014 , 09:19:52 pm | Posted By: CASANSAAR

RBI/2013-2014/565FMD.MSRG.No.102/02.18.002/2013-14 April 16, 2014 All Scheduled Commercial Banks and Primary Dealers Dear Sir/ Madam, Financial Benchmarks- Governance Framework for Benchmark Submitters As you are aware, theCommittee on Financial Benchmarks(Chairman: Shri P. Vijaya Bhaskar, Executive Director) had submitted its Report on February 7, 2014 recommending several measures/principles to be adopted in respect of major Indian Rupee interest rate and Foreign exchange benchmar...

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Category : RBI | Comments : 0 | Hits : 79

Differential Rate of Interest for Micro and Small Enterprises (MSEs)
Posted Date : 15-Apr-2014 , 10:01:12 pm | Posted By: CASANSAAR

RBI/2013-14/564DBOD.Dir.BC.No.106/13.03.00/2013-14 April 15, 2014 All Scheduled Commercial Banks(excluding RRBs) Dear Sir / Madam Differential Rate of Interest for Micro and Small Enterprises (MSEs) A reference is invited topart ‘B’ of the First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014wherein certain measures have been proposed to be adopted by banks in order to give a fillip to the flow of credit to micro and small enterprises (MSEs) borrow...

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Category : RBI | Comments : 0 | Hits : 201

MCA extends efiling date from 14th April to 28th April 2014
Posted Date : 13-Apr-2014 , 07:36:01 pm | Posted By: CASANSAAR

Ministry ofCorporateAffairs (MCA) has issuedPublic NoticeNo. MCA21/28/2014-eGov dated 11th April, 2014 informing stakeholders that the allE-Formswill be available for upload with effect from 28th April, 2014 instead of 14th April, 2014 as notified earlier on 28th March, 2014....

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Category : Corporate Laws | Comments : 0 | Hits : 397

Trade Credits for Imports into India – Review of all-in-cost ceiling
Posted Date : 11-Apr-2014 , 09:16:45 am | Posted By: CASANSAAR

RBI/2013-14/561A.P. (DIR Series) Circular No.122 April 10, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Trade Credits for Imports into India– Review of all-in-cost ceiling Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to theA.P. (DIR Series) Circular No. 56 dated September 30, 2013relating to all-in-cost ceiling of Trade Credits for imports into India. 2. On a review it has been decided that the all-in-cost ceiling as specified und...

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Category : FEMA | Comments : 0 | Hits : 151

External Commercial Borrowing (ECB) Policy – Review of all-in-cost ceiling
Posted Date : 11-Apr-2014 , 09:16:03 am | Posted By: CASANSAAR

RBI/2013-14/560A.P. (DIR Series) Circular No.121 April 10, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, External Commercial Borrowing (ECB) Policy – Review of all-in-cost ceiling Attention of Authorised Dealer Category - I (AD Category - I) banks is invited toA.P. (DIR Series) Circular no. 58 dated September 30, 2013relating to the all-in-cost ceiling for ECB. 2. On a review, it has been decided that the all-in-cost ceiling as specified under paragraph...

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Category : FEMA | Comments : 0 | Hits : 166

Rupee Drawing Arrangement – ‘Direct to Account’ Facility
Posted Date : 11-Apr-2014 , 09:15:08 am | Posted By: CASANSAAR

RBI/2013-14/559A.P. (DIR Series) Circular No.120 April 10, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Rupee Drawing Arrangement – ‘Direct to Account’ Facility Attention of Authorised Dealer Category – I (AD Cat – I) banks is invited 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 / Foreign Currency Vostro Accounts of ...

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Category : FEMA | Comments : 0 | Hits : 139

Risk Management & Inter-Bank Dealings: Booking of Forward Contracts - Liberalisation
Posted Date : 08-Apr-2014 , 07:32:42 am | Posted By: CASANSAAR

RBI/2013-14/557A.P. (DIR Series) Circular No. 119 April 07, 2014 To, All Authorised Dealer Category – I banks Madam / Sir, Risk Management & Inter-Bank Dealings:Booking of Forward Contracts - Liberalisation Please refer toparagraph 23of the first Bi-Monthly Monetary Policy Statement, 2014-15 wherein, inter alia, it has been proposed to allow all resident individuals, firms and companies with actual foreign exchange exposures to book foreign exchange derivative contracts up to US$...

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Category : FEMA | Comments : 0 | Hits : 222

Foreign investment in India in Government Securities
Posted Date : 08-Apr-2014 , 07:32:02 am | Posted By: CASANSAAR

RBI/2013-14/556A.P. (DIR Series) Circular No.118 April 07, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Foreign investment in India in Government Securities Please refer to paragraph 24 of first bi-monthly Monetary Policy statement, 2014-15. 2. Attention of AD Category-I banks is invited toA.P.(DIR Series) Circular No.94 dated April 1, 2013read withA.P.(DIR Series) Circular No.111 dated June 12, 2013andA.P.(DIR Series) Circular No.112 dated March 25, 2014, in terms ...

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Category : FEMA | Comments : 0 | Hits : 153

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