Foreign Direct Investment (FDI) into a Small Scale Industrial Undertakings (SSI) / Micro & Small Enterprises (MSE) and in Industrial Undertaking manufacturing items reserved for SSI/MSE
Posted Date : 20-Feb-2014 , 09:35:05 pm | Posted By: CASANSAAR
RBI/2013-14/498A.P. (DIR Series) Circular No.107
February 20, 2014
To
All Category – I Authorised Dealer Banks
Madam / Sir,
Foreign Direct Investment (FDI) into a Small Scale Industrial Undertakings (SSI) / Micro & Small Enterprises (MSE) and in Industrial Undertaking manufacturing items reserved for SSI/MSE
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Schedule 1 of the Foreign Exchange Management (Transfer or Issue of Security by a Person...
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FEMA |
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DVAT- Extension of Amnesty Scheme till 28.02.2014
Posted Date : 19-Feb-2014 , 09:54:02 pm | Posted By: CASANSAAR
Whereas the Lt. Governor of National Capital Territory of Delhi is of the opinion thatit is necessary in the interest of general public so to do.
Now, therefore, in exercise of the powers conferred by section 107 of the Delhi Value AddedTax Act, 2004 (Delhi Act 3 of 2005) , the Lt. Governor of National Capital Territory ofDelhi is pleased to make the following amendment to Delhi Tax Compliance AchievementScheme, 2013, notified vide Notification No. F.3(16)/Fin(Rev-I)/2013-14/dsvi/786 dated 20...
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VAT |
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Facilities to NRIs/PIOs and Foreign Nationals – Liberalisation - Reporting Requirement
Posted Date : 18-Feb-2014 , 09:39:01 pm | Posted By: CASANSAAR
RBI/2013-14/496A.P (DIR Series) Circular No. 106
February 18, 2014
To,All Category- I Authorised Dealer Banks
Madam / Sir,
Facilities to NRIs/PIOs and Foreign Nationals – Liberalisation - Reporting Requirement
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited toA.P. (DIR Series) Circular No. 12 dated November 16, 2006in terms of which the lock-in period of 10 years for remittance of sale proceeds of immovable property was dispensed with and AD Category - I...
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FEMA |
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Seeks to amend notification No. 25/2012- Service Tax dated 20.06.2012
Posted Date : 17-Feb-2014 , 09:28:38 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 04/2014 - Service Tax
New Delhi, the 17thFebruary, 2014
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 (Depa...
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Service Tax |
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ST.Circular - Regarding rice exemptions from service tax
Posted Date : 17-Feb-2014 , 09:24:44 am | Posted By: CASANSAAR
Circular No.177/03/2014 – ST
F. No.334/03/2014-TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise& Customs
Tax Research Unit
North Block, New Delhi
17thFebruary, 2014
To,
Chief Commissioners of Central Excise and Service Tax (All),
Director General (Service Tax), Director General (Central Excise Intelligence),Director General (Audit),
Commissioners of Service Tax (All),
Commissioners of Central Excise and Service Tax (All).
M...
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Service Tax |
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External Commercial Borrowings (ECB) – Reporting arrangements
Posted Date : 17-Feb-2014 , 07:11:04 am | Posted By: CASANSAAR
RBI/2013-14/495A. P. (DIR Series) Circular No. 105
February 17, 2014
ToAll Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) – Reporting arrangements
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, as amended from time to time andA.P. (DIR Series) Circular No.60 da...
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FEMA |
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CBDT bans AAI from issuing tax-free bonds, raises cap on issuing tax-free bonds for certain entities
Posted Date : 17-Feb-2014 , 07:08:57 am | Posted By: CASANSAAR
SECTION 10(15), ITEM (h) OF SUB-CLAUSE (iv) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - INTEREST ON BONDS/DEBENTURES - SPECIFIED COMPANIES AUTHORIZED TO ISSUE TAX-FREE, SECURED, REDEEMABLE, NON-CONVERTIBLE BONDS DURING F.Y. 2013-14 SUBJECT TO SPECIFIED CONDITIONS - AMENDMENT IN NOTIFICATION NO. 61/2013 [F.NO.178/37/2013-(ITA-I)/SO 2424(E), DATED 8-8-2013
NOTIFICATION NO. 11/2014[F.NO.178/9/2014-(ITA-I)],DATED 13-2-2014
In exercise of the powers conferred by item (h) of sub-clause (iv) of cl...
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Income Tax |
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Punjab Small Traders Rahat Scheme, 2014
Posted Date : 15-Feb-2014 , 05:58:27 am | Posted By: HARPAL SINGH CHEEMA
In exercise of the powers conferred by Section 8-A of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all powers enabling him in this behalf, the Governor of Punjab is pleased to notify the following scheme to be called the Punjab Small Traders Rahat Scheme, 2014 with a view to levy lump sum tax with immediate effect on the traders mentioned in the said scheme and subject to the conditioned as specified therein....
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VAT |
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Clarification with regard to Section 185 of the Companies Act,2013 - MCA
Posted Date : 14-Feb-2014 , 07:12:49 am | Posted By: CASANSAAR
This ministry hAs received number of representations on the applicability ofS€ction 185 of ihe Companies Act, 2013,3 with reference to loans made, gaurantee given or security provided under section 372A of the companies act 1956....
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Category :
Corporate Laws |
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Import of Gold / Gold Dore by Nominated Banks /Agencies/Entities - Clarifications
Posted Date : 14-Feb-2014 , 07:04:40 am | Posted By: CASANSAAR
RBI/2013-14/493A.P. (DIR Series) Circular No.103
February 14, 2014
To
All Scheduled Commercial Banks which are Authorised Dealers (ADs) inForeign Exchange/ All Agencies nominated for import of gold
Madam / Sir,
Import of Gold / Gold Dore by Nominated Banks /Agencies/Entities - Clarifications
Attention of Authorised Persons is drawn to the Reserve Bank'sA.P. (DIR Series) Circular No. 25 dated August 14, 2013; andA.P. (DIR Series) Circular No. 73 dated November 11, 2013on the captioned subje...
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Category :
FEMA |
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Central Repository of Information on Large Credits (CRILC) – Revision in Reporting
Posted Date : 13-Feb-2014 , 08:58:25 pm | Posted By: CASANSAAR
RBI/2013-14/492DBS.No.OSMOS. 9862/33.01.018/2013-14
February 13, 2014
The Chairman / Chairman & Managing Director/Managing Director / Chief Executive Officerof Public Sector Banks, Private Sector Banks/Foreign Banks (Excluding RRBs and LABs)
Dear Sir,
Central Repository of Information on Large Credits (CRILC) – Revision in Reporting
1. Please refer toDBS.Dir.OSMOS.No.3327/33.01.001/2013-14 dated September 11, 2013along with a Directive of even date issued under Section 27(2) of BR...
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RBI |
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Term Repo under Liquidity Adjustment Facility- Operational Guideline
Posted Date : 13-Feb-2014 , 08:57:44 pm | Posted By: CASANSAAR
RBI/2013-14/491FMD.MOAG.No.98/01.01.009/2013-14
February 13, 2014
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Term Repo under Liquidity Adjustment Facility- Operational Guidelines
Please refer to ourcircular FMD.MOAG. No. 92 /01.01.009/2013-14 dated October 29, 2013on the captioned subject. Taking into account the requests received from the market participants, it has been decided to revise the timings of the Term Repo auctions from 2.30-3.00 PM to 11.00 -11.30 AM.
2. All ...
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Category :
RBI |
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Foreign Direct Investment – Reporting under FDI Scheme: Amendments in form FC-GPR
Posted Date : 13-Feb-2014 , 08:56:55 pm | Posted By: CASANSAAR
RBI/2013-14/490A.P. (DIR Series) Circular No.102
February 11, 2014
To
All Category - I Authorised Dealer banks
Madam / Sir,
Foreign Direct Investment –Reporting under FDI Scheme: Amendments in form FC-GPR
Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations 2000 notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 (herein...
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Category :
FEMA |
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Guidelines on Management of Intra-Group Transactions and Exposures
Posted Date : 13-Feb-2014 , 08:56:04 pm | Posted By: CASANSAAR
RBI/2013-14/487DBOD.No.BP.BC.96/21.06.102/2013-14
February 11, 2014
The Chairman and Managing Directors/Chief Executive Officers ofAll Scheduled Commercial Banks(excluding RRBs and LABs)
Madam / Sir,
Guidelines on Management of Intra-Group Transactions and Exposures
As a prudential measure aimed at better risk management and avoiding concentration of credit risk, the Reserve Bank of India (RBI) has prescribed prudential limits on banks’ exposure to single and group borrowers. Banks ar...
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Category :
RBI |
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Clarification regarding effective date for levy of excise duty on cigarettes at the enhanced rates vide Finance Act, 2012
Posted Date : 13-Feb-2014 , 08:55:12 pm | Posted By: CASANSAAR
Circular No.981/5/2014-CX
F.No.345/01/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
*****
New Delhi, the 11thFebruary, 2014
To,
Chief Commissioners of Central Excise (All),
Chief Commissioners of Central Excise and Customs (All),
Director General, Directorate General of Central Excise Intelligence,
Commissioners of Central Excise (All),
Commissioners of Central Excise and Customs (All).
Madam/Sir,
Subject: Effective date for levy of...
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Category :
Excise |
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Sums paid on redemption of units or allotment of bonus units won’t attract DDT under sec.115R
Posted Date : 13-Feb-2014 , 08:54:12 pm | Posted By: CASANSAAR
Section 115R of the Income-tax Act, 1961 - Tax on distributed income to unit holders – Clarification on scope of additional income-tax on distributed......
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Category :
Income Tax |
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Sec. 14A disallowance can be triggered even if exempt income isn’t earned during the year - CBDT
Posted Date : 13-Feb-2014 , 08:52:04 pm | Posted By: CASANSAAR
Sec. 14A disallowance can be triggered even if exempt income isn’t earned during the year; CBDT clarifies
...
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Category :
Income Tax |
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CBDT extends due date for filing of ITR-V for returns filed with refund claims for AY 2009-10, 2010-11 and 2011-12
Posted Date : 13-Feb-2014 , 08:49:35 pm | Posted By: CASANSAAR
CircularNo.. 04/2014, Dated : February 10, 2014
Subject – Non-Filing of ITR-Vin returnswith refund claims-relaxationof time- limit for filing ITR-V and processing of such returns -regarding.
Several instances of grievances have come to the notice of the Board stating that a large number of returns-of-income for Assessment Year (‘AY’) 2009-2010, which were electronically filed without a digital signature in accordance withprocedurelaid down under the Income-tax Act, 1961(&lsqu...
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Category :
Income Tax |
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DVAT - Extension of date for submission of Hard Copy return of Third Quarter 2013-14
Posted Date : 13-Feb-2014 , 08:39:49 pm | Posted By: CASANSAAR
In partial modification of Circular No.33 of 2013-14 dated 31/12/2013and in exercise of the powers conferred under rule 49A of the Delhi Value AddedTax Rules, 2005, I, Prashant Goyal, Commissioner, Value Added Tax, do herebyextend the last date of filing of hardcopy of third quarter return of 2013-14 to10/02/2014. The date of on-line filing of returns would, however, end atmidnight of 7thFebruary 2014...
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Category :
VAT |
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Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer
Posted Date : 13-Feb-2014 , 08:38:10 pm | Posted By: CASANSAAR
RBI/2013-14/485DBOD.No.BP.95/21.04.048/2013-14
February 7, 2014
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks)
Dear Sir,
Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer
Please refer to ourcircular DBOD.No.BP.BC.89/21.04.048/2005-06 dated June 22, 2006andDBOD.No.BP.BC. 68/21.04.048/2006-07 dated March 13, 2007on creation, accounting, disclosures and utilisation of floating p...
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Category :
RBI |
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Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Posted Date : 13-Feb-2014 , 08:37:20 pm | Posted By: CASANSAAR
RBI/2013-14/484UBD.BPD.(PCB).Cir.No.47/13.01.000/2013-14
February 7, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Deregulation of Interest Rates onNon-Resident (External) Rupee (NRE) Deposits
Please refer to ourcircular UBD.BPD.(PCB) CIR.No.8/13.01.000/2013-14 dated September 3, 2013allowing banks the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in order to pass on the benefit of...
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RBI |
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Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS)
Posted Date : 13-Feb-2014 , 08:35:59 pm | Posted By: CASANSAAR
RBI/2013-14/481A.P. (DIR Series) Circular No.101
February 4, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Export of Goods and Services:Export Data Processing and Monitoring System (EDPMS)
Attention of Authorised Dealers is invited toA. P. (DIR Series) Circular No. 12 dated September 9, 2000in terms of which AD Category – I banks are required to furnish the various returns/statements relating to export of Goods/Services as given underPart C- Authorised Dealer obligati...
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Category :
FEMA |
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Third party payments for export / import transactions
Posted Date : 13-Feb-2014 , 08:35:10 pm | Posted By: CASANSAAR
RBI/2013-14/479A.P. (DIR Series) Circular No.100
February 4, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Third party payments for export / import transactions
Attention of Authorized Dealer Category – I banks is invited toA. P. (DIR Series) Circular No.70 dated November 8, 2013, in terms of which they have been permitted to allow third party payments for export of goods & software / import of goods subject to the conditions stated therein.
2. In view of the dif...
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Category :
FEMA |
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Regarding levy of service tax on services provided by an authorised person or sub-brokers to the member of a commodity exchange
Posted Date : 13-Feb-2014 , 08:33:44 pm | Posted By: CASANSAAR
Government of India
Ministry of Finance
(Department of Revenue)
***
Notification No. 03/2014-Service Tax
New Delhi, 3rdFebruary, 2014
G.S.R….(E).- Whereas, the Central Government is satisfied that a practice was generally prevalent regarding levy of service tax (including non-levy thereof), under section 66 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as ‘the Finance Act’),on services provided byanauthorisedperson or sub-broker to the memberof are...
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Category :
Service Tax |
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Revision in Bank Rate
Posted Date : 29-Jan-2014 , 08:05:45 am | Posted By: CASANSAAR
RBI/2013-2014/469UBD.BPD.(PCB).Cir.No.46/16.11.00/2013-14
January 28, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Revision in Bank Rate
Please refer to ourcircular UBD.BPD.(PCB).Cir. No. 33 /16.11.00/2013-14 dated October 29, 2013on the captioned subject.
2. As announced in theThird Quarter Review of Monetary Policy Statement for 2013-14 dated January 28, 2014, the Bank Rate stands adjusted by 25 basis points from 8.75 per cent to 9.0 ...
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Category :
RBI |
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Housing Sector: New Sub-Sector CRE-Residential Housing (CRE-RH) Segment within CRE Sector & Rationalisation of Provisioning and Risk Weight
Posted Date : 29-Jan-2014 , 08:03:33 am | Posted By: CASANSAAR
RBI/2013-14/465UBD.BPD.(PCB).Cir.No.45/13.05.000/2013-14
January 28, 2014
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Housing Sector: New Sub-Sector CRE-Residential Housing (CRE-RH) Segment within CRE Sector & Rationalisation of Provisioning and Risk Weight
Please refer to paragraph 82 of the Monetary Policy Statement 2013-14 (extract enclosed) on ‘Commercial Real Estate - Residential Housing: Prudential Norms’, announced on ...
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Category :
RBI |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 29-Jan-2014 , 08:02:07 am | Posted By: CASANSAAR
RBI/2013-14/464REF.No.MPD.BC. 371/07.01.279/2013-14
Magha 8,1935 (Sake)January 28, 2014
To
All Scheduled Banks [excluding Regional Rural Banks(RRBs)]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theThird Quarter Review of Monetary Policy 2013-14 dated January 28, 2014, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.75 per cent to 8.00 per ce...
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Category :
RBI |
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Submit Form 27A generated by FVU withTDS/TCS statement wef 01.02.2014
Posted Date : 29-Jan-2014 , 07:54:09 am | Posted By: CASANSAAR
With effect from February 1, 2014, it is mandatory tosubmit Form27A generated by TDS/TCS FVU (File Validation Utility) duly signed, along the TDS/TCS statement/(s). Any other Form 27A submitted will be treated as invalid submission and the same will be rejected by TIN-FC branches....
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Category :
Income Tax |
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1 | Hits : 1914
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CBDT releases Explanatory notes on Finance Act, 2013
Posted Date : 29-Jan-2014 , 07:53:00 am | Posted By: CASANSAAR
CBDT has videCIRCULARNO.03/2014 Dated, the 24th January, 2014 issued EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2013. Explanatory Notes cover the following Topics / Provision :-
Section 2-Change in thedefinition of capitalasset
Section 10
Change in the definition of keyman insurance policy,
exemptionto income of investor Protection Fund of depositors,
pass through status to certainAlternative InvestmentFunds
exemptionof income received in India in Indian currency by a foreig...
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Category :
Income Tax |
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PAN applicants to furnish original docs at PAN centres for verifications from February 3, 2014: CBDT
Posted Date : 24-Jan-2014 , 09:05:14 pm | Posted By: CASANSAAR
The procedure for PAN allotment process will undergo a change w.e.f.03.02.2014. From this date onwards, every PAN applicant has to submit selfattestedcopies of Proof of Identity (POI), Proof of Address (POA) and Date ofBirth (DOB) documents and also produce original documents of suchPOI/POA/DOB documents, for verification at the counter of PAN FacilitationCentres. The copies of Proof of Identity (POI), Proof of Address (POA) and Dateof Birth (DOB) documents attached with PAN application form, wi...
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Category :
Income Tax |
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