CBDT notifies CIT(E) for granting Sec. 10(23C) approval to trusts
Posted Date : 04-Dec-2014 , 08:23:25 am | Posted By: CASANSAAR
CBDT notifies CIT(E) for granting Sec. 10(23C) approval to trusts...
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CBDT notifies CIT(E) for granting Sec. 10(23C) approval to educational institutions/hospitals
Posted Date : 04-Dec-2014 , 08:22:33 am | Posted By: CASANSAAR
CBDT notifies CIT(E) for granting Sec. 10(23C) approval to educational institutions/hospitals...
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Credit facilities to Minority Communities - Inclusion of jain Community Under Section 2(c) of the National Commission of Minorities (NCM) Act,1992
Posted Date : 03-Dec-2014 , 04:48:00 pm | Posted By: CASANSAAR
RBI/2014-15/334FIDD.GSSD.BC NO.44/09.10.001/2014-15
December 03, 2014
The Chairman /Managing DirectorAll Scheduled Commercial Banks
Dear Sir/Madam
Credit facilities to Minority Communities - Inclusion of jain Community UnderSection 2(c) of the National Commission of Minorities (NCM) Act,1992
Please refer to paragraph 2 of ourMaster Circular RPCD.GSSD.BC.No.2/09.10.01/2013-14 dated July 01, 2013on “Credit Facilities to Minority Communities”.
2. Ministry of Minority Affairs, Gove...
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Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India- Relaxations
Posted Date : 03-Dec-2014 , 12:50:23 pm | Posted By: Rupa Kaushik
RBI/2014-15/333DPSS.CO.PD.No.980/02.14.006/2014-15
December 03, 2014
All Prepaid Payment Instrument Issuers,System Providers, System Participantsand all other Prospective Prepaid PaymentInstrument Issuers
Madam / Dear Sir
Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India- Relaxations
A reference is invited to thecircular issued vide RBI/2014-2015/105 DPSS.CO.PD.PPI.No. 3/02.14.006/2014-15 July 1, 2014on the Master Circular – Policy Guidelines on Issuance and Opera...
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AOs not to frame high pitched assessments on taxpayers of J&K State if their books were destroyed in floods: CBDT
Posted Date : 02-Dec-2014 , 09:49:36 pm | Posted By: CASANSAAR
It has come to the notice of the Board that due to recent devastation caused by the floods inthe State of Jammu & Kashmir, the income-tax assessees of that State are facing difficulties inensuring compliance either with the requirements under ongoing scrutiny assessment proceedingsor with respect to notices u/s 143(2) of the Income Tax Act, 1961 ('Act') issued recently.
2. In such cases, where an assessee under scrutiny claims that he is unable to make certaincompliances due to destructio...
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Remittance of Assets – Submission of Auditor’s Certificate
Posted Date : 02-Dec-2014 , 07:35:57 pm | Posted By: CASANSAAR
RBI/2014-15/332A.P. (DIR Series) Circular No.43
December 2, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Remittance of Assets – Submission of Auditor’s certificate
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, notified videNotification No. FEMA 13/2000-RB dated May 3, 2000, as amended from time to time, which required submission of certificates in t...
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FEMA |
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I-T department designed a new functionality for generating MIS of Auditable cases under Secs 143(3), 144 and 147
Posted Date : 01-Dec-2014 , 09:51:22 pm | Posted By: CASANSAAR
AST Instruction No.132
DIRECTORATE OF INCOME TAX (SYSTEMS)
ARA Centre, Ground Floor, E-2, Jhandewalan Extension,
New Delhi-110055
F. No. AST/Inst. No. 132/Auditable cases-MIS/78/2014-15
Dated: 27.11.2014
To,
The Principal Chief Commissioner of Income-tax /CCsIT(By Name)
Ahmedabad/ Allahabad/ Amritsar/ Bangalore/ Baroda/ Bhopal/ Bhubaneshwar/ Bareilly/ Chandigarh/ Chennai/ Cochin/ Coimbatore/ Dehradun/ Delhi/ Durgapur/ Guwahati/ Hubli/ Hyderabad/ Indore/ jaipur/ Jalpaiguri/ Jodhpur/ K...
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Due date for Filing Return in Jammu & Kashmir extended to 31.03.2015
Posted Date : 30-Nov-2014 , 09:32:09 am | Posted By: CASANSAAR
F.No. 225/268/2014/ITA.II
Dated- 28th of November, 2014
Order under Section 119 of the Income-tax Act, 1961
Considering the devastation due to floods in the State of Jammu & Kashmir, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961 (`Act’) and in continuation to the earlier order under section 119 of the Act dated 16.09.2014, hereby further extends the ‘due date’ of furnishing return of income from 30th ...
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Import of Gold (under 20: 80 Scheme) by Nominated Banks / Agencies / Entities
Posted Date : 29-Nov-2014 , 07:56:10 am | Posted By: CASANSAAR
RBI/2014-15/329A. P. (DIR Series) Circular No.42
November 28, 2014
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Import of Gold (under 20: 80 Scheme) by Nominated Banks / Agencies / Entities
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the provisions contained inA.P.(DIR Series) Circular No.25 dated August 14, 2013and the subsequent clarifications issued from time to time, resting with theA.P. (DIR Series) Circular No.133 dated May ...
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RBI |
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Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
Posted Date : 29-Nov-2014 , 07:55:13 am | Posted By: CASANSAAR
RBI/2014-15/328DBR.BP.BC.No.52/21.04.098/2014-15
November 28, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
Please refer to the ‘Fourth Bi-monthly Monetary Policy Statement, 2014-15’ announced on September 30, 2014, wherein it was proposed that pursuant to the guidelines issued on the liquidity coverage ratio (LCR) in Jun...
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RBI |
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Implementation of Bharat Bill Payment System (BBPS) - Guidelines
Posted Date : 29-Nov-2014 , 07:54:10 am | Posted By: CASANSAAR
RBI/2014-15/327DPSS.CO.PD. No. 940 /02.27.020/2014-2015
November 28, 2014
The Chairman and Managing Director / Chief Executive OfficersAll Scheduled Commercial Banks including RRBs /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative BanksAll System Providers, System Participantsand any other prospective Bharat Bill Payment Operating Units
Madam/Dear Sir,
Implementation of Bharat Bill Payment System (BBPS) - Guidelines
In theSecond Quarter Review of Monetary P...
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RBI |
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Branch Authorisation Policy - Information to be submitted by Banks along with Annual Branch Expansion Plan (ABEP)
Posted Date : 28-Nov-2014 , 05:38:24 pm | Posted By: Rupa Kaushik
RBI/2014-15/326DBR.No.BAPD.BC.51/22.01.001/2014-15
November 28, 2014
All Domestic Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam
Branch Authorisation Policy - Information to be submitted byBanks along with Annual Branch Expansion Plan (ABEP)
Please refer to ourcirculars DBOD.No.BAPD.BC.54/22.01.001/2013-14 dated September 19, 2013, andDBOD.No.BAPD.BC.60/22.01.001/2013-14 dated October 21, 2013regarding relaxations in Branch Authorisation Policy. Accordingly,circular DBOD....
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Last Date of UP VAT Annual Return for the year 13-14 has been extended to 31-12-2014
Posted Date : 28-Nov-2014 , 03:26:03 pm | Posted By: CASANSAAR
Last Date of UP VAT Annual Return for the year 13-14 has been extended to 31-12-2014 vide circular no. 1242 dated 28-11-2014...
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VAT |
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Supervisory Action Framework for Urban Co-operative Banks (UCBs)
Posted Date : 28-Nov-2014 , 08:13:33 am | Posted By: CASANSAAR
RBI/2014-15/323DCBR.BPD.(PCB).Cir No.3/12.05.001/2014-15
November 27, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Supervisory Action Framework for Urban Co-operative Banks (UCBs)
Please refer tocircular UBD.BPD.(PCB).Cir.No.22/12.05.001/2011-12 dated March 01, 2012in terms of which Supervisory Action Framework (SAF) for UCBs was introduced. Having regard to the improvements witnessed by the sector and the need for ensuring more timely supervisory ...
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Date of Filing of Reconciliation Return (CST form 9) for the Year 13-14 extended to 09/01/2015
Posted Date : 27-Nov-2014 , 07:21:08 pm | Posted By: CASANSAAR
Date of Filing of Reconciliation Return (CST form 9) for the Year 13-14 extended to 09/01/2015 vide circular no. 19 dated 27/11/2014....
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VAT |
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Issue of Long Term Bonds by Banks – Financing of Infrastructure and Affordable Housing
Posted Date : 27-Nov-2014 , 04:19:16 pm | Posted By: Rupa Kaushik
RBI/2014-15/320DBR.BP.BC.No.50/08.12.014/2014-15
November 27, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Issue of Long Term Bonds by Banks – Financing of Infrastructure and Affordable Housing
Please refer to ourcircular DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014on the captioned subject. In continuation of the same, banks are advised as under:
2. In order to provide liquidity to retail investors in such bonds, it has been decided that banks can extend lo...
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RBI |
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Routing of funds raised abroad to India
Posted Date : 26-Nov-2014 , 07:46:25 am | Posted By: CASANSAAR
BI/2014-15/316A.P. (DIR Series) Circular No. 41
November 25, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Routing of funds raised abroad to India
Attention of Authorised Dealers – Category - I (AD Category – I) banks is invited to the extant regulatory framework under the Foreign Exchange Management Act (FEMA), 1999 related to the External Commercial Borrowings (ECB), issuance of guarantees, and overseas direct investment from India.
2. It has come to our...
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FEMA |
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Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List
Posted Date : 25-Nov-2014 , 05:25:41 pm | Posted By: Ravich
RBI/2014-15/315DBR.CO.RRB.No.5559/03.05.365/2014-15
November 25, 2014
All Regional Rural Banks
Madam/Dear Sir,
Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List
Please refer to ourcircular RPCD.RRB.RCB.AML.No.3509/07.51.19/2014-15 dated September 30, 2014on the captioned subject releasing 18th update dated September 23, 2014 regarding UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List.
2. Ministry o...
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Simplification of Know Your Customer (KYC) Norms – Creating Public awareness
Posted Date : 25-Nov-2014 , 08:04:05 am | Posted By: CASANSAAR
RBI/2014-15/314DPSS.CO.AD.No.890/02.27.005/2014-15
November 24, 2014
All Payment System Providers, System Participantsand Prepaid Payment Instrument Issuers
Madam/Dear Sir,
Simplification of Know Your Customer (KYC) Norms – Creating Public awareness
Please refer to our circulars/instructions issued from time to time on the captioned subject. In this regard, we enclose a copy ofcircular DBOD.AML.No.3356/14.01.001/2014-15 dated September 4, 2014issued by Department of Banking Op...
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RBI |
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The Depositor Education and Awareness Fund Scheme, 2014 –Section 26A of Banking Regulation Act, 1949- Due diligence of customers
Posted Date : 21-Nov-2014 , 10:14:06 pm | Posted By: CASANSAAR
RBI/2014-15/311DBR.No.DEA Fund Cell.BC. 49/30.01.002/2014-15
November 21, 2014
The Chairman and Managing Director /Chief Executive OfficerAll Scheduled Commercial Banks including RRBs and LABs /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks.
Dear Sir/Madam,
The Depositor Education and Awareness Fund Scheme, 2014 –Section 26A ofBanking Regulation Act, 1949- Due diligence of customers
Please refer tocircular DBOD.No.DEAF Cell.BC.114/30.01.002/20...
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RBI |
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External Commercial Borrowings (ECB) Policy – Parking of ECB proceeds
Posted Date : 21-Nov-2014 , 04:59:09 pm | Posted By: Rupa Kaushik
RBI/2014-15/309A.P. (DIR Series) Circular No. 39
November 21, 2014
To
All Authorised Dealer Category-I Banks
Madam / Sir
External Commercial Borrowings (ECB) Policy – Parking of ECB proceeds
Attention of Authorized Dealer Category - I (AD Category- I) banks is invited toA.P. (DIR Series) Circular No. 52 dated November 23, 2011relating to parking of proceeds of External Commercial Borrowings (ECB).
2. At present, eligible ECB borrowers are required to bring ECB proceeds, meant for Ru...
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RBI |
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Release of Foreign Exchange for Haj/ Umrah pilgrimage
Posted Date : 21-Nov-2014 , 04:56:33 pm | Posted By: Rupa Kaushik
RBI/2014-15/310A.P. (DIR Series) Circular No.40
November 21, 2014
To
All Authorised Persons in Foreign Exchange
Madam / Sir,
Release of Foreign Exchange for Haj/ Umrah pilgrimage
Attention of Authorised Persons in foreign exchange is invited to A.P. (DIR Series) Circular No. 19 dated October 30, 2000;A.P. (DIR Series) Circular No.11 [A.P. (F.L. Series) Circular No.1] dated November 13, 2001andA.P.(DIR Series) Circular No. 50 [A.P.(FL Series) Circular No. 7] dated May 4, 2010, regarding rel...
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RBI |
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Acquisition/Transfer of Immovable property – Payment of taxes
Posted Date : 20-Nov-2014 , 07:41:49 pm | Posted By: CASANSAAR
RBI/2014-15/307A.P. (DIR Series) Circular No. 38
November 20, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Acquisition/Transfer of Immovable property – Payment of taxes
Attention of Authorised Dealers in Foreign Exchange is invited to Foreign Exchange Management (Acquisition and Transfer of immovable property in India) Regulations, 2000 notified videNotification No. FEMA 21 /2000-RB dated 3rd May 2000as amended from time to time.
2. It has been observed that do...
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FEMA |
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Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Posted Date : 20-Nov-2014 , 05:22:22 pm | Posted By: CASANSAAR
RBI/2014-15/308DBR.Dir.BC.No.47/13.03.00/2014-15
November 20, 2014
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/Madam
Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Please refer to ourcircular DBOD.Dir.BC.53/13.10.00/2002-03 dated December 26, 2002on ‘Minimum Balance in Savings Bank Accounts’ advising banks to inform customers, in a transparent manner, regarding the requirement of minimum balance in savings bank account and levy ...
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RBI |
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Export of Goods / Software / Services Period of Realisation and Repatriation of Export Proceeds
Posted Date : 20-Nov-2014 , 04:57:02 pm | Posted By: Ravich
RBI/2014-15/306A.P. (DIR Series) Circular No. 37
November 20, 2014
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Export of Goods / Software / Services – Period of Realisation and Repatriationof Export Proceeds – For exporters including Units in SEZs, Status HolderExporters, EOUs, Units in EHTPs, STPs and BTPs
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 52 dated November 20, 2012extending the enhanced pe...
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RBI |
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Clarification regarding availment of CENVAT credit after six months
Posted Date : 19-Nov-2014 , 05:29:36 pm | Posted By: CASANSAAR
Circular No.: 990/14/2014-CX-8
F. No. 267/72/2013-CX.8 (Pt)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
*************
New Delhi, the 19thof November, 2014
To,
Principal Chief Commissioners/Chief Commissioners of Central Excise (All)
Principal Chief Commissioners/Chief Commissioners of Central Excise of Central Excise & Customs (All)
Director General, Directorate General of Central Excise Intelligence
Principal Commissioners/...
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Corporate Laws |
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Regarding All Industry Rates (AIR) of Duty Drawback w.e.f. 22.11.2014
Posted Date : 19-Nov-2014 , 08:07:10 am | Posted By: CASANSAAR
Circular No. 13/ 2014-Customs
F. No. 609/118/2014-DBK
Government of India
Ministry of Finance, Department of Revenue
Central Board of Excise & Customs
New Delhi, dated 18th November, 2014
To
All Chief Commissioners of Customs / Customs (Prev.)
All Chief Commissioners of Central Excise/Customs & Central Excise
All Director Generals under CBEC
All Commissioners of Customs / Customs (Prev.)
All Commissioners of Central Excise/Customs & Central Excise/Service Tax
Subject:...
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Custom |
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Ext€nsion of time for holding Annual cenerat M€eting (AGM) under section 96(1) of the Companies Act, 20l3-Companies r€gistered in State of Jammu and Kashmir
Posted Date : 19-Nov-2014 , 08:04:26 am | Posted By: CASANSAAR
The State of Jammu and Kashmir faced unprecedented floods, particularly in the Kashmir valley in September 2014. Kashmir Chamber of Commerce and Industry and others have represented that due to the devastation caused by the floods, companies registered inthe State could not convene AGMS for the financial year 2013-2014 within the stipulated time as required under the provisions of Companies Act, 2013....
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Corporate Laws |
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Regarding major changes in All Industry Rates (AIR) of Duty Drawback w.e.f. 22.11.2014
Posted Date : 18-Nov-2014 , 05:00:48 pm | Posted By: Ravich
The Ministry has notified revised All Industry Rates (AIR) of Duty Drawback vide Notification
No. 110/2014- Customs (N.T.), dated 17.11.2014. This notification comes into force on 22.11.2014.2. Some of the broad aspects, from amongst the changes notified with respect to AIR of duty drawback and entries in the Schedule, are the following –
(a) As before, the drawback rates have been determined on the basis of certain broad average parameters including, inter alia, prevailing prices of inp...
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Custom |
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Settlement Application - Assessment deemed to be concluded when order is made and not when served; CBDT clarifies
Posted Date : 18-Nov-2014 , 08:04:52 am | Posted By: CASANSAAR
Chapter XIX-A of the Income-tax Act, 1961 contains provisions relating tosettlement of cases by the Income-tax Settlement Commission (ITSC). Theprovisions contained in the said chapter were amended by Finance Act, 2007and a Revised Settlement Scheme was put in place. Explanatory Circular No.3/2008 dated 12.03.2008 issued by CBDT vide para 61 (comprising sub paras61.1 to 61.17) deals with Revised Settlement Scheme....
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