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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RBI |
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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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Income Tax |
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Clarification on method of calculation of safeguard duty leviable vide notification No.4/2012-Customs (SG) dated 05.10.2012 on import of Carbon Black under Advance Authorization Scheme
Posted Date : 18-Nov-2014 , 08:01:50 am | Posted By: CASANSAAR
Circular No.11/2014-Customs
F.No.354/59/2014-TRU
Government of India
Ministry of Finance
(Department of Revenue)
Tax Research Unit
*****
New Delhi, the 14thNovember, 2014
To,
Principal Chief Commissioners / Chief Commissioners of Customs (All)
Principal Chief Commissioners / Chief Commissioners of Customs & Central Excise (All)
Principal Director General, Directorate General of Revenue Intelligence
Sir / Madam,
Subject:Method of calculation of safeguard duty leviablevide...
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Custom |
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MCA has extended date of Company Law Settlement Scheme to 31/12/2014
Posted Date : 14-Nov-2014 , 07:32:07 pm | Posted By: CASANSAAR
In continuation to the Ministry's General Circular No.34/2014 datedl2.Oa.2OI4 arrd 4O/2O14 dated 15/1Ol2O14 on t}te subject cited above, tlisMinistry has, on consideration of requests received from various stakeholders,has decided to extend the Company Law Settlement Scheme (CLSS 2014) upto 31"t December. 2014...
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Corporate Laws |
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Cheque related fraud cases - preventive measures
Posted Date : 14-Nov-2014 , 03:59:12 pm | Posted By: Rupa Kaushik
RBI/2014-15/303DCBR.CO.BPD.(PCB). Cir No 2/12.05.001/2014-15
November 13, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Cheque related fraud cases - preventive measures
The rise in the number of cheque related fraud cases is a matter of serious concern. It is evident that many of such frauds could have been avoided had due diligence been observed at the time of handling and/or processing the cheques and monitoring newly opened accounts. Primary (Ur...
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RBI |
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Budget (2014-15) Announcement Financing of Joint Farming groups of ‘Bhoomi Heen Kisan’
Posted Date : 14-Nov-2014 , 03:54:56 pm | Posted By: Rupa Kaushik
RBI/2014-15/304FIDD.CO.FSD.BC 42/05.02.02/2014-15
November 13, 2014
The Chairman and Managing DirectorAll Scheduled Commercial Banks
Dear Sir
Budget (2014-15) AnnouncementFinancing of Joint Farming groups of ‘Bhoomi Heen Kisan’
As per Para 80 of the Union Budget, it has been declared that 5 lakh Joint Liability Groups of ‘Bhoomi Heen Kisan’ will be financed through NABARD in the current financial year. The detailed guidelines, based on the inputs received from NABARD...
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RBI |
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Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards - Primary (Urban) Co-operative Banks
Posted Date : 13-Nov-2014 , 04:05:00 pm | Posted By: Ravich
RBI/2014-15/302DCBR.CO.BPD .(AD). Cir No 1/14.01.062/2014-15
November 13, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Madam / Sir,
Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) -Standards - Primary (Urban) Co-operative Banks
Please refer to ourcircular UBD.BPD.(AD).Cir.No.1/14.01.062/2014-15 July 31, 2014on risks arising from the deficiencies in AML / CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has upd...
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RBI |
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MCA extends due date of e-filing of new form for notice of appointment of cost auditor to January 31, 2015
Posted Date : 12-Nov-2014 , 06:50:39 pm | Posted By: CASANSAAR
MCA extends due date of e-filing of new form for notice of appointment of cost auditor to January 31, 2015.General Circular 42, dated 12.11.2014: Clarification on matters relating to the Companies(Cost Records and Audit) Rules,2014...
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Corporate Laws |
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Income Tax Department to remain open on 15th November, 2014
Posted Date : 12-Nov-2014 , 07:40:23 am | Posted By: CASANSAAR
F.No.225/298/20114/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, the 11th of November, 2014
Order under Section 119(1) of the Income-tax Act, 1961
The Income-tax Offices throughout the country shall remain open on 15th November (Saturday), during normal office hours, for conducting the administrative work related to implementation of the restructuring of jurisdictions across the country which is coming into effect...
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Income Tax |
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Review of the Non-Banking Financial Company – Factors (Reserve Bank) Directions, 2012
Posted Date : 10-Nov-2014 , 08:14:36 pm | Posted By: CASANSAAR
RBI/2014-15/300DNBR (PD) CC.No. 003/22.10.91/2014-15
November 10, 2014
Dear Sirs,
Review of the Non-Banking Financial Company – Factors (Reserve Bank) Directions, 2012
Please refer toDNBS (PD) CC. No. 297/Factor/22.10.91/ 2012-13, dated July 23, 2012in terms of which an NBFC-Factor shall ensure that its financial assets in the factoring business constitute at least 75 per cent of its total assets and its income derived from factoring business is not less than 75 per cent of its gross i...
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RBI |
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Revised Regulatory Framework for NBFC
Posted Date : 10-Nov-2014 , 08:13:58 pm | Posted By: CASANSAAR
RBI/2014-15/299DNBR (PD) CC.No. 002/03.10.001/2014-15
November 10, 2014
All NBFCs (excluding Primary Dealers)
Dear Sirs,
Revised Regulatory Framework for NBFC
The NBFC (Non-Banking Finance Company) sector has evolved considerably in terms of its size, operations, technological sophistication, and entry into newer areas of financial services and products. NBFCs are now deeply interconnected with the entities in the financial sector, on both sides of their balance sheets. Being financ...
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RBI |
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Due Date of DVAT Return for IInd Quarter has been extended
Posted Date : 10-Nov-2014 , 12:44:18 pm | Posted By: CASANSAAR
In partial modification to this department’s Circular No.14 of 2014-15 on thesubject cited above, and in exercise of the powers conferred under Rule 49A of theDelhi Value Added Tax Rules, 2005, I, Sanjeev Khirwar, Commissioner, Value AddedTax, do hereby extend the last date of filing of online/hard copy of second quarterreturn for the year 2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-48 along withrequired annexures/enclosures to 17/11/2014.
However, the tax due shall continue to be paid i...
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Category :
VAT |
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Press Release regarding instruction issued to ensure a non-adversarial tax regime within the Income-tax Department
Posted Date : 08-Nov-2014 , 07:55:39 am | Posted By: CASANSAAR
In its constant endeavour towards a non-adversarial tax regime, the CentralBoard of Direct Taxes(CBDT) has issued instruction dated 7th November, 2014 to itsfield offices. Emphasis has been laid on cleanliness in office, punctuality, timelinessin appointment and avoiding unnecessary adjournments. Though less that 1% ofreturns filed are selected for scrutiny, this area of work has often drawn adversarialcomments. Supervisory officers, have been directed to play a more pro-active role inmonitoring...
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Income Tax |
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Delhi VAT – Withdrawal of filing of information related to statutory forms online in Form CD-1
Posted Date : 06-Nov-2014 , 08:57:46 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE & TAXES
VYAPAR BHAWAN :
I.P.ESTATE:
NEW DELHI -110 002
No. F.7(450)Policy/VAT/2014/455-466
Dated: 5/11/2014
NOTIFICATION
I, Sanjeev Khirwar, Commissioner, Value Added Tax, in exercise of the powers conferred under section 70 of the Delhi Value Added Tax Act, 2004 ( Delhi Act 3 of 2005), do hereby withdraw the filing of information related to statutory forms online in Form CD-1 notified vide Notification...
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VAT |
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Designated Director – Amendment to Section 13(2) of Prevention of Money Laundering Act (PMLA)
Posted Date : 06-Nov-2014 , 11:42:33 am | Posted By: May I Help You.
RBI/2014-15/296DCBR.CO.BPD .(PCB). No 1/14.01.062/2014-15
November 5, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Designated Director – Amendment to Section 13(2) of Prevention of Money Laundering Act (PMLA)
Please refer to ourcircular UBD.CO.BPD.(PCB).Cir No.48/14.01.062/2013-14 dated February 18, 2014wherein UCBs were advised that they may nominate a Director on their Boards as ‘Designated Director’ to ensure compliance with the...
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RBI |
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Cheque related fraud cases - preventive measures
Posted Date : 06-Nov-2014 , 11:39:48 am | Posted By: May I Help You.
RBI/2014-15/294DBS.CFMC.BC.No. 006 /23.04.001/2014-15
November 5, 2014
The Chairperson / Chief Executive OfficersAll Scheduled Commercial Banks (excluding RRBs) / Local Area Banks
Dear Sir / Madam,
Cheque related fraud cases - preventive measures
The rise in the number of cheque related fraud cases is a matter of serious concern. It is evident that many of such frauds could have been avoided had due diligence been observed at the time of handling and/or processing the cheques and monitoring...
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Category :
RBI |
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Splitting up of rebate claims to avoid Pre-Audit
Posted Date : 05-Nov-2014 , 07:58:49 am | Posted By: CASANSAAR
F. No. 206/05/2014-CX.6
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Dt: 03.11.2014
To
The Chief Commissioners of Central Excise (All)
Sub: Splitting up of rebate claims to avoid pre-audit-reg.
Instances have been brought to the notice of the Board where the assesses have submitted rebate claims by splitting up the amounts of rebate claims so as to keep each individual claim below ₹ 5 lakhs to avoid pre-audit.
2. Reba...
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Excise |
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Company Law Board (Fees on Applications and Petitions) Amendment Rules, 2014
Posted Date : 04-Nov-2014 , 07:58:38 am | Posted By: CASANSAAR
G.S.R.-In exercise of the powers conferred by section 642 read withsub-section (2) of section 6374. ofthe Companies Act, 1956 (1 of 1956) andthe removal of difficulty Orders issued by the Central Governm€nt undersection 470 of t}Ie Companies Act, 2013, the Central Govemment herebymakes the following rules further to amend the Company Law Board (Feeson Applications and Petitions) Rules, 1991 namely...
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Corporate Laws |
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