CBDT Revised limit - Doubles exemption limit of conveyance allowance
Posted Date : 15-Apr-2015 , 06:50:48 pm | Posted By: Vijay
S.O. 1002 (E). – In exercise of the powers conferred by section 295, read with clause (14) of section 10 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 (6th Amendment) Rules, 2015. (2) They shall come into force on the 1st day of April, 2015. CBDT
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Co. intending incorporation can now apply for PAN in Form INC-7 prescribed under Companies Act, 2013
Posted Date : 14-Apr-2015 , 08:12:49 am | Posted By: CASANSAAR
S.O. 995(E)- In exercise of the powers conferred by 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. (1) These rules may be called the Income –tax (Fifth Amendment) Rules, 2015.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962, –
...
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Income Tax |
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MCA Clarification under sub-section (7) of section 186 of the Companies Act,2013
Posted Date : 11-Apr-2015 , 07:25:33 am | Posted By: CASANSAAR
Attention of this Ministry has been drawn to General Circular No 06/2013 dated 14.03.2013 vide which it was clarified that in cases where the effective yield (effective rate of return) on tax free bonds is greater than the yiild on prevailing bank rate, there was no violation of Section 372A(31 of bompaniis Act, 1956. Stakeholders have requested for similar cLarification w.r.t. corresponding section 186(7) of the Companies Act' 2013'...
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Companies Act |
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Clarification for Remuneration to managerial person under Schedule XIII of the Companies Act, 1956
Posted Date : 11-Apr-2015 , 07:23:28 am | Posted By: CASANSAAR
Staleholders have drawn attention to the Drovisions of Schedule Xtll (sixth proviso to Para (C) of Section ll of Part ll) of the Companies Act, 1956 (Earlier Act) and as clarihed vide Circular nwber 14l11/2O12-CL-VII dated 16th August,2012, which allowed listed companies and their subsidiaries to pay remuneration, without approval of Central Government, in excess of limits specified in para II Para (C) of such Schedule if the managerial person met the conditions specified therein. Stakeholders h...
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Companies Act |
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CBEC Clarifies on rate of service tax applicability
Posted Date : 11-Apr-2015 , 07:12:44 am | Posted By: CASANSAAR
Circular No. 183 / 02 / 2015-ST
F. No. B-1 /1/2015-TRU
Government of India
Ministry of Finance
Department of Revenue
(Tax Research Unit)
***
Room No. 153, North Block, New Delhi.
Dated 10thApril, 2015.
To
Chief Commissioner of Customs and CentralExcise(All)
Chief Commissioner of Central Excise & Service Tax (All)
Director General of Service Tax
Director General of Central Excise Intelligence
Director General of Audit Commissioner of Customs and Central Excise ...
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Service Tax |
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Custom Circular - 4% SAD refund claim
Posted Date : 10-Apr-2015 , 07:09:14 pm | Posted By: Vijay
Circular No. 12/2015-Customs
F.No.401/57/2014- Cus III
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
*****
New Delhi, the 9thApril, 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: 4% SAD refund claim &ndas...
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Custom |
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MCA Notifies the Companies (Auditor's Report) Order, 2015
Posted Date : 10-Apr-2015 , 07:02:54 pm | Posted By: Vijay
S.O. _(E).- In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013 ) and in supersession of the Companies (Auditor's Report) Order, 20O3, published in the cazette of lndia, Extraordinary, Part II, Section 3, Sub-section (i), vide nurnber G.S.R. 480 (E), dated the 12th June, 2003, except as respects things done or omitted to be done before such supersession, the Central Government, after consultation with the Institute of Chartered Accoun...
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Companies Act |
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RBI Circular - NBFCs Lending against Shares
Posted Date : 10-Apr-2015 , 06:58:47 pm | Posted By: Vijay
RBI/2014-15/551DNBR (PD).CC.No.028/03.10.001/2014-15
April 10, 2015
All NBFCs with asset size of`.100 cr and above(excluding Primary Dealers)
Dear Sirs,
NBFCs- Lending against Shares – Clarification
Please refer to ourcircular DNBS (PD).CC.No.408/03.10.001/2014-15 dated August 21, 2014. We have since received a number of queries from the industry participants seeking clarification on the applicability of the circular. In this connection, the following isclarified
The above mentio...
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RBI |
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Govt. constitutes Information Security Committee in CBDT
Posted Date : 09-Apr-2015 , 09:03:16 pm | Posted By: CASANSAAR
An Information Security cornrnittee (lSC) in the central Board of Direct Taxes (CBDT) is hereby constituted comprornising the following officers:
(a) Member (tT), CBDT
(b) Joint Secretary (FT&TR-|)
(c) Joint Secretary (TpL-ll)
(d) CIT (lnv.)
(e) CIT (M&Tp)
(f). DIT (l&CI), New Delhi
(g) DIT (Systems-il)
Member (lr), CBDT will be the chairrnan of the lsc. clr (M&Tp) shall also perfbrrn the role of chief Information Security Offi cer (CISO)...
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CBDT |
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CBDT clarifies No capital gain arises on roll over of Mutual Funds under Fixed Maturity Plans as per SEBI norms
Posted Date : 09-Apr-2015 , 08:56:12 pm | Posted By: CASANSAAR
CBDT clarifies No capital gain arises on roll over of Mutual Funds under Fixed Maturity Plans as per SEBI norms....
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CBDT |
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CBDT clarifies Self-assessment tax paid before due date of filing of wealth tax return isn't subject to interest
Posted Date : 09-Apr-2015 , 08:49:07 pm | Posted By: CASANSAAR
CBDT clarifies Self-assessment tax paid before due date of filing of wealth tax return isn't subject to interest...
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CBDT |
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Fema Circular -Review of FDI policy –Sector Specific conditions- Insurance sector
Posted Date : 09-Apr-2015 , 07:42:47 am | Posted By: CASANSAAR
RBI/2014-15/545
A. P. (DIR Series) Circular No.94
April 08, 2015
To
All Authorised Dealer Category-I Banks
Madam / Sir,
Foreign Direct Investment (FDI) in India – Review of FDI policy –Sector Specific conditions- Insurance sector
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Annex B of Schedule 1 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vi...
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FEMA |
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RBI Circular- Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) - Directions – Modifications
Posted Date : 08-Apr-2015 , 06:09:30 pm | Posted By: Vijay
RBI/2014-15/544
DNBR.CC.PD.No.027/03.10.01/2014-15
April 08, 2015
To
All NBFC-MFIs
Dear Sirs,
Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – Directions – Modifications
The captioned directions contained in thenotification DNBS.PD.No.234/CGM (US)-2011 dated December 2, 2011and subsequent modifications were issued to NBFC-MFIs in the backdrop of the Andhra Pradesh-MFI crisis. The sector has largely moved forward since then. Accordingly certain m...
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RBI |
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Revised selection criteria for appointment of Chairman, Vice-Chairman and members of Settlement Commission
Posted Date : 07-Apr-2015 , 07:50:01 am | Posted By: CASANSAAR
G.S.R. 235(E).—In exercise of the powers conferred by the proviso to article 309 of the Constitution, and in suppression of the Settlement Commission (Income-tax/Wealth-tax) (Recruitment and Conditions of Service of Chairman, Vice-Chairmen and Members) Rules, 2000, except as respects things done or omitted to be done be supersession, the President hereby makes the following rules regulating the recruitment and conditions of service of persons appointed as Chairman, Vice-Chairmen and Member...
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Income Tax |
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RBI Circular - Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Posted Date : 06-Apr-2015 , 06:31:13 pm | Posted By: Vijay
RBI/2014-15/539
DBR.No.BP.BC.85/21.04.048/2014-15
April 6, 2015
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Refinancing of Exposures to Borrowers
In terms ofcircular DBOD.No.BP.BC.107/21.04.048/2013-14 dated April 22, 2014andA.P. (DIR Series) Circular No.129 dated May 9, 2014, Indian companies are not permitted to raise external commercial bo...
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RBI |
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RBI Circular - Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) - Standards
Posted Date : 06-Apr-2015 , 06:26:11 pm | Posted By: Vijay
RBI/2014-2015/537
DBR.AML.No.14746/14.01.001/2014-15
April 6, 2015
The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/
Local Area Banks / All India Financial Institutions
Dear Sir/ Madam,
Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letterDBR.AML.No.6704/14.01.001/2014-15 dated November 5, 2014on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Act...
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RBI |
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Instructions regarding adjudication of Central Excise and Service Tax Cases booked by DGCEI-reg.
Posted Date : 03-Apr-2015 , 06:27:01 pm | Posted By: CASANSAAR
Circular No. 1000/7/2015-CX
datedthe 3rdMarch, 2015
F. No. 208/03/2012-CX-6
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
To
The Director General of Central Excise Intelligence,
All Principal Chief/ Chief Commissioners of Central Excise and Service Tax,
All Principal Chief/ Chief Commissioners of Central Excise.
Sub: Instructions regarding adjudication of Central Excise and Service Tax Cases booked by DGCEI-reg.
Sir / Mada...
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Excise |
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Govt. notifies income computation and disclosure standards for purpose of Sec. 145; effective from April 1, 2015
Posted Date : 02-Apr-2015 , 10:01:52 pm | Posted By: CASANSAAR
Income Tax
S.O. 892 (E) In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Part II, Section 3, Sub-section (ii), vide number S.O 69(E) dated the 25th January, 1996, except as respects things done or omitted to be done before such supersession, the Central Government hereby notifies t...
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Income Tax |
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Regarding facility for suo moto payment of customs duty in case of bona fide default in export obligation under the Advance / EPCG authorisations
Posted Date : 02-Apr-2015 , 09:54:04 pm | Posted By: CASANSAAR
Circular No.11/2015 - Customs
F.No. 605/55/2014-DBK
Government of India
Ministry of Finance, Department of Revenue
Central Board of Excise& Customs
Drawback Division
New Delhi, dated 1stApril,2015
To
All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Prev)/ Central Excise & Customs,
All Principal Directors General/Directors General of CBEC / Chief Commissioner (AR), CESTAT,
All Principal Commissioners/Commissioners under CBEC
Ma’am/Sir,
...
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Custom |
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Custom Circular - Online message exchange between Customs and other regulatory agencies - reg.
Posted Date : 01-Apr-2015 , 06:56:53 pm | Posted By: Vijay
Circular No. 09/2015-Cus
F.No.450/01/2011-Dir. (Cus)(Pt.I)
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
******
New Delhi, dated the 31stMarch, 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: Online message exchange betwee...
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Custom |
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Customs Circular - Usage of Digital Signature Certificate in Remote EDI filing (RES) of Customs Documents - reg.
Posted Date : 01-Apr-2015 , 06:53:07 pm | Posted By: Vijay
Circular No. 10/2015-Customs
F. No. 450/25/2013-Cus IV
Government of India
Ministry of Finance
Department ofRevenue
(Central Board of Excise and Customs)
****
New Delhi, dated the 31stMarch, 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:Usage of Di...
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Custom |
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FEMA Circular - Export of Goods and Services – Project Exports
Posted Date : 01-Apr-2015 , 06:29:06 pm | Posted By: Vijay
RBI/2014-15/534
A.P.(DIR Series) Circular No.93
April 1, 2015
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Export of Goods and Services – Project Exports
Attention of Authorised Dealers is invited toA. P. (DIR Series) Circular No. 11 dated July 22, 2014in terms of which AD banks / Exim Bank have been permitted to consider according post-award approvals without any monetary limit and permit subsequent changes in the terms of post award approval within the...
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FEMA |
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RBI Circular - Setting up of IFSC Banking Units (IBUs)
Posted Date : 01-Apr-2015 , 06:27:08 pm | Posted By: Vijay
RBI/2014-15/533
DBR.IBD.BC. 14570/23.13.004/2014-15
April 1, 2015
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir/Madam,
Setting up of IFSC Banking Units (IBUs)
Please refer to the Reserve Bank of IndiaNotification No. FEMA.339/2015-RB dated March 02, 2015(copy enclosed) under FEMA 1999 on Foreign Exchange Management (International Financial Services Centre) Regulations, 2015 setting out RBI regulations relating to financial institutions set up in Intern...
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RBI |
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Know Your Customer (KYC) Guidelines - Accounts of Proprietary Concerns
Posted Date : 01-Apr-2015 , 06:25:24 pm | Posted By: Vijay
RBI/2014-15/532
DCBR.BPD(PCB/RCB)Cir.No.24/14.01.062/2014-15
April 1, 2015
The Chief Executive Officer
All Primary (Urban) Co-operative Banks /
State and Central Co-operative Banks (StCBs / CCBs)
Madam / Dear Sir,
Know Your Customer (KYC) Guidelines - Accounts of Proprietary Concerns
Please refer to paragraph 2.5(ii) of ourMaster Circular no. UBD.BPD.(PCB) MC.No.16/12.05.001/2014-15 dated July 1, 2014and paragraph 2.5 (vi) ofMaster Circular RPCD. RRB.RCB.AML.BC. No. 02/07.51.01...
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RBI |
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Inclusion in/exclusion from the Second Schedule to the Reserve Bank of India Act, 1934- Regional Rural Banks (RRBs)
Posted Date : 01-Apr-2015 , 06:23:26 pm | Posted By: Vijay
RBI/2014-15/531
DBR.RRB.BC.No.82/31.04.002/2014 -15
April 1, 2015
All Regional Rural Banks
Dear Sir/Madam,
Inclusion in/exclusion from the Second Schedule to the Reserve Bank of India Act, 1934- Regional Rural Banks (RRBs)
We advise that the names of two Regional Rural Banks have been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notificationsRPCD.CO.RRB.BC.No.18/03.05.100/ 2014-15 dated July 28, 2014andDBR.RRB.No.7946/03.05.100/2014-15 dated February ...
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Category :
RBI |
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The Companies (Acceptance of Deposits) Amendment Rules, 2015 notified by MCA
Posted Date : 01-Apr-2015 , 03:41:39 pm | Posted By: CASANSAAR
MCA has notified the Companies (Acceptance of Deposits) Amendment Rules, 2015 dated March 31, 2015.
"To allot any share, stock, bond, or debenture within a specified period, if a company receives any amount by way of subscriptions to any shares, stock, bonds or debentures before the 1st April,2014 and disclosed in the balance sheet for the financial year ending on or before the 31st March,2014 against which the allotment is pending on the 31st March,2015, the company shall, by the1st J...
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Companies Act |
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Prudential Guidelines on Capital Adequacy and Liquidity Standards - Amendments
Posted Date : 01-Apr-2015 , 07:56:05 am | Posted By: CASANSAAR
RBI/2014-15/529
DBR.No.BP.BC.80/21.06.201/2014-15
March 31, 2015
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir,
Prudential Guidelines on Capital Adequacy and Liquidity Standards - Amendments
As you are aware, the Reserve Bank has issued and implemented prudential guidelines on capital adequacy framework and liquidity standards for banks operating in India. These guidelines have been framed based on the internationally accepted reform package, as agreed...
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RBI |
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FEMA Circular - Risk Management and Inter-bank Dealings: Revised Position Limits for Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 01-Apr-2015 , 07:51:17 am | Posted By: CASANSAAR
RBI/2014-15/527
A.P.(DIR Series) Circular No. 91
Mar 31, 2015
To All Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Revised Position Limits for Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 ...
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Category :
FEMA |
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FEMA Circular - Revised Position Limits for Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 01-Apr-2015 , 07:49:03 am | Posted By: CASANSAAR
RBI/2014-15/527
A.P.(DIR Series) Circular No. 91
Mar 31, 2015
To All Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Revised Position Limits for Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 ...
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FEMA |
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DVAT Circular - Filing of reconciliation return for the year 2013-14.
Posted Date : 31-Mar-2015 , 08:40:20 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
(POLICY BRANCH)
VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002
No.F.7(420)/VAT/Policy/2011/PF/948-954
DVAT CIRCULAR NO. 30 of 2014-15
Dated: 31/03/2015
Sub: Filing of reconciliation return for the year 2013-14.
In exercise of the powers conferred upon me by first proviso tosub-rule (3) of Rule 4ofCentral Sales Tax (Delhi) Rules, 2005I, Sanjeev Khirwar, Commissioner, Value Added Tax, do here...
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Category :
VAT |
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