Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals
Posted Date : 02-Jul-2014 , 08:28:42 am | Posted By: CASANSAAR
RBI/2014-2015/8
Master Circular No. 8 /2014-15
July 01, 2014
To
All Authorised Dealer Category – I banks and Authorised banks
Madam / Sir
Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals
Remittance facilities for Non-Residents /Persons of Indian Origin /Foreign Nationals are being governed bysub-section (1) and (2) of section 6of theForeign Exchange Management Act, 1999read with FEMANotification No.13/2000-RBand FEMANot...
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Companies (cost records and audit) Rules,2014
Posted Date : 01-Jul-2014 , 08:30:58 pm | Posted By: CASANSAAR
[To be published in the Gazette of India, Extraordinary,
Part II, section 3, Sub-section (ii)]
Government of India
Ministry of Corporate Affairs
Notification
New Delhi, 30th June, 2014
G.S.R.__(E) -Inexerciseof the powers conferred bysub-sections (1) and (2) of section 469andsection 148of theCompanies Act, 2013 (18 of 2013)and in supersession of Companies (Cost Accounting Records) Rules, 2011; Companies (Cost Audit Report) Rules, 2011; Cost Accounting Records (Telecommunication Industry) R...
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Corporate Laws |
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Remittances to non-residents – Deduction of Tax at Source
Posted Date : 01-Jul-2014 , 08:09:16 am | Posted By: CASANSAAR
RBI/2013-14/669A.P. (DIR Series) Circular No.151
June 30, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Remittances to non-residents – Deduction of Tax at Source
Attention of Authorised Dealers in Foreign Exchange isinvitedtoA.P (DIR Series) Circular No. 56 dated November 26, 2002read withA. P. (DIR Series) Circular No. 3 dated July 19, 2007regardingthe procedure to be followed in respect of deduction of tax at source while allowingremittancesto the non-res...
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FEMA |
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Due Date for Filing DPT-4 extended to 31st August 2014
Posted Date : 30-Jun-2014 , 07:46:49 pm | Posted By: CASANSAAR
This Ministry has received reference regarding filing of Form DPT4 under the provisions of theCompanies Act, 2013. As per section 74(1)(a) of the Companies Act, 2013and the companies (Acceptanceof Deposits) Rules, 2014 made there under, companies are required to file a statement regarding depositsexisting as on date of commencement of the Act within a period of 3 months from such commencement.The time for filing of said statement is expiring on 30-06-2014.
2. After considering the reference, ...
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Corporate Laws |
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Definition of Accountant in Rule 2(e) of UP VAT Rules, 2008 has been amended to include Company Secretary & Cost Accountant
Posted Date : 28-Jun-2014 , 04:52:40 pm | Posted By: CASANSAAR
Definition of Accountant in Rule 2(e) of UP VAT Rules, 2008 has been amended to include Company Secretary & Cost Accountant vide notification dated 27.06.2014.
2(e) - Accountant means a Chartered Accountant as defined in Chartered Accountants Act, 1949 or a members of an association of accountants recognised in this behalf by the Central Board of Revenue andincludes a Company Secretary as defined in Companies Secretaries Act, 1980and a Cost Accountant as defined in the Cost & Works ac...
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VAT |
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Defaulters of Rs. 1 crore and above (non-suit filed accounts) and Wilful Defaulters of Rs. 25 lakhs and above (non-suit filed accounts) – Changes in reporting to Reserve Bank of India (RBI)/Credit Information Companies (CICs)
Posted Date : 28-Jun-2014 , 07:42:32 am | Posted By: CASANSAAR
RBI/2013-14/667DBOD.No.CID.BC.128 /20.16.003/2013-14
June 27, 2014
All Commercial Banks (excluding RRBs),All India Notified Financial Institutions, andAll Credit Information Companies
Dear Sir / Madam
Defaulters of Rs. 1 crore and above (non-suit filed accounts) and Wilful Defaulters of Rs. 25 lakhs and above (non-suit filed accounts) – Changes in reporting to Reserve Bank of India (RBI)/Credit Information Companies (CICs)
Please refer to our circulars DBOD.No.BC/CIS/47/20.16.002/94 d...
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RBI |
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Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
Posted Date : 28-Jun-2014 , 07:41:31 am | Posted By: CASANSAAR
RBI/2013-14/666DBOD.No.CID.BC.127/20.16.056/2013-14
June 27, 2014
All Commercial Banks (excluding RRBs)All India Notified Financial Institutions andAll Credit Information Companies.
Dear Sir / Madam
Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
A Committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies (Chairman: Shri Aditya Puri) was constituted by the Reserve Bank of India (RBI)...
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RBI |
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Banking Regulation Act, 1949 – Section 26A Depositor Education and Awareness Fund Scheme, 2014 – Operational Guidelines- Payment of Interest
Posted Date : 28-Jun-2014 , 07:40:09 am | Posted By: CASANSAAR
RBI/2013-14/665DBOD.No.DEAF Cell.BC. 126/30.01.002/2013-14
June 26, 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,
Banking Regulation Act, 1949 – Section 26ADepositor Education and Awareness Fund Scheme, 2014 –Operational Guidelines- Payment of Interest
Please refer to thecircular DBOD.No.DEAF...
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RBI |
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MCA Clarification on applicability of requirement for Resident Director.
Posted Date : 27-Jun-2014 , 06:15:45 pm | Posted By: CASANSAAR
General Circular no. 25/2014
No: 1/ 22/13 -CL-V
Government of India
Ministry of Corporate Affairs
5thFloor, A Wing, Shastri Bhawan
Dr. R. P. Road, New Delhi
Dated: 26thJune, 2014
To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.
Subject: Clarification on applicability of requirement for resident director.
Sir,
Section 149(3)of theCompanies Act, 2013 (Act)requires every company to have at least one director who has stayed in India for a total period ...
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Corporate Laws |
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Recognizing E-Aadhaar as an ‘Officially Valid Document’ under PML Rules
Posted Date : 26-Jun-2014 , 07:56:09 pm | Posted By: CASANSAAR
RBI/2013-14/660DPSS. CO. D. No. 2646/02.27.005/2013-14
June 20, 2014
ToAll Payment System Providers, System Participantsand prospective Prepaid Payment Instrument Issuers
Madam/Dear Sir,
Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 – e-KYC Service of UIDAI – Recognizing E- Aadhaar as an ‘Officially Valid Docum...
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RBI |
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Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Posted Date : 26-Jun-2014 , 07:52:14 pm | Posted By: CASANSAAR
RBI/2013-14/664DBOD.No.BP.BC.125/21.04.048/2013-14
June 26, 2014
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks)
Dear Sir,
Prudential Norms on Income Recognition, Asset Classification andProvisioning Pertaining to Advances - Projects under Implementation
Please refer tocirculars DBOD.No.BP.BC.85/21.04.048/2009-10 dated March 31, 2010andDBOD.BP.BC.No.99/21.04.132/ 2012-13 dated May 30, 201...
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RBI |
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Clarification with regard to holding of shares in a fiduciary capacity by associate company under section 2(6) of the Companies Act, 2013
Posted Date : 26-Jun-2014 , 07:28:41 pm | Posted By: CASANSAAR
General Circular no. 24/2014
F. N: 01/ 13/2013 -CL-V
Government of India
Ministry of Corporate Affairs
‘A' Wing, 5thFloor, Shastri Bhawan
Dr. Rajendra Prasad Road, New Delhi-110001
Date: 25.06.2014
To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.
Subject : Clarification with regard to holding of shares in a fiduciary capacity by associate company under section 2(6) of the Companies Act, 2013.
Sir,
In continuation of theGeneral circular No. 20/2...
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Corporate Laws |
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Clarification relating to incorporation of a company i.e. company Incorporated outside India
Posted Date : 26-Jun-2014 , 07:27:12 pm | Posted By: CASANSAAR
General Circular no. 23/2014
F. N: 1/ 13/2013 -CL-V
Government of India
Ministry of Corporate Affairs
‘A' Wing, 5thFloor, Shastri Bhawan
Dr. R.P. Road, New Delhi-110001
Date: 25.06.2014
To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.
Subject: Clarification relating to incorporation of a company i.e. company Incorporated outside India.
Sir,
Government has received references seeking clarity about the status of subsidiaries incorporated/to be in...
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Corporate Laws |
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Govt extends excise duty concession on Motor Car and Capital Goods
Posted Date : 26-Jun-2014 , 08:18:52 am | Posted By: CASANSAAR
Government Extends Duty Concessions on Various Items for A Period ofSix MonthsBeyond 30th June, 2014 i.e. till 31st December 2014 videNotificationNo. 06/2014-Central Excise Dated 25th June 2014.
In order to provide a fillip to thecapital goodsand automobile sector, and given itscommitmentto revive theeconomic growth, the Government of India has decided today to extend these duty concessions beyond 30th June for a period of six months upto 31st December, 2014. This announcement was made here t...
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Excise |
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Clarification with regard to format of annual return applicable for Financial Year 2013-14 and fees to be charged by companies for allowing inspection of records
Posted Date : 26-Jun-2014 , 08:13:25 am | Posted By: CASANSAAR
General Circular No. 22/2014
No. 1/ 34 /2013-CL-V (Part-I)
Government of India
Ministry of Corporate Affairs
5thFloor, A Wing, Shastri Bhavan,
Dr. R.P. Road, New Delhi.
Dated : 25thJune. 2014
To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.
Subject: Clarification with regard to format of annual return applicable for Financial Year 2013-14 and fees to be charged by companies for allowing inspection of records.
Sir,
Government has received requests for...
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Corporate Laws |
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The Depositor Education and Awareness Fund Scheme, 2014 –Section 26A of Banking Regulation Act, 1949- Clarifications on Operational Guidelines
Posted Date : 26-Jun-2014 , 08:10:15 am | Posted By: CASANSAAR
RBI/2013-14/656DBOD.No.DEAF Cell.BC.123/30.01.002/2013-14
June 25, 2014
The Chairman and Managing Director /Chief Executive OfficersAll 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 of Banking Regulation Act, 1949- Clarifications on Operational Guidelines
Please refer to thecircular DBOD.No.DEAF C...
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RBI |
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Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds, 2003
Posted Date : 24-Jun-2014 , 08:55:09 pm | Posted By: CASANSAAR
RBI/2013-14/654DGBA.CDD. No. 6919/13.01.299/2013-14
June 12, 2014
The Chairman/Managing DirectorHead Office (Government Accounts Department)State Bank of India and Associates
All Nationalised Banks(Excluding Punjab and Sind Bank and Andhra Bank)Axis Bank Ltd./ HDFC Bank Ltd./ICICI Bank Ltd.Stock Holding Corporation of India Ltd.(SHCIL)
Dear Sir/Madam
Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds...
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RBI |
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Financial Inclusion by Extension of Banking Services – Use of Business Correspondents
Posted Date : 24-Jun-2014 , 08:54:12 pm | Posted By: CASANSAAR
RBI/2013-14/653DBOD.No.BAPD.BC.122/22.01.009/2013-14
June 24, 2014
All Domestic Scheduled Commercial Banks(excluding RRBs)
Dear Sir /Madam
Financial Inclusion by Extension of Banking Services –Use of Business Correspondents
Please refer toparagraph 26of the First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014 which stated that “On financial inclusion, the fourth pillar, the recommendations of the Mor Committee on accelerating the flow of credi...
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RBI |
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CBDT notifies new Wealth-tax return form - Mandatory e-filing except by Individual/HUF not liable to Tax Audit
Posted Date : 24-Jun-2014 , 08:02:23 pm | Posted By: CASANSAAR
WEALTH-TAX (FIRST AMENDMENT) RULES, 2014 - SUBSTITUTION OF RULE 3 AND INSERTION OF FORM BB
NOTIFICATION NO.32/2014 [F.NO.143/1/2014-TPL]/SO 1576(E),DATED 23-6-2014
In exercise of the powers conferred by clause (ba) and clause (bb) of sub-section (2) of section 46 read with section 14A and section 14B of the Wealth-tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following rules further to amend the Wealth-tax Rules, 1957, namely:—
1.(1) These rules ma...
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Income Tax |
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Constitution of Special Investigating Team – sharing of information
Posted Date : 24-Jun-2014 , 08:34:30 am | Posted By: CASANSAAR
RBI/2013–14/652DBOD.AML.No.20470/14.01.001/2013-14
June 23, 2014
The Chairpersons / CEOs of all Scheduled CommercialBanks (Excluding RRBs)/Local Area Banks /All India Financial Institutions
Dear Madam/Sir,
Constitution of Special Investigating Team – sharing of information
In pursuance of the Hon’ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon’ble Justice M.B. Shah. In...
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RBI |
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New features in RTGS System
Posted Date : 24-Jun-2014 , 08:33:33 am | Posted By: CASANSAAR
RBI/2013–14/651DPSS (CO) RTGS No.2589/04.04.017/2013-14
June 20, 2014
The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGS
Madam / Sir,
New features in RTGS System
Please refer to ourcircular DPSS (CO) RTGS No.801/04.04.017/2013-14 dated October 11, 2013regarding the launch of new RTGS system and coming into effect of “RTGS System Regulations 2013”. A reference is also invited to Chapter 9 of the “RTGS System Regulations 2013” where...
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RBI |
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Risk Management and Inter-bank Dealings: Guidelines relating to participation of Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 21-Jun-2014 , 07:43:48 am | Posted By: CASANSAAR
RBI/ 2013-14/650A .P. (DIR Series) Circular No. 148
June 20, 2014
To
All Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Guidelines relating to participation of 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,...
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Corporate Laws |
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Risk Management and Inter-bank Dealings: Guidelines relating to participation of Residents in the Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 21-Jun-2014 , 07:42:43 am | Posted By: CASANSAAR
RBI/2013-14/649A .P. (DIR Series) Circular No. 147
June 20, 2014
ToAll Category - I Authorised Dealer banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Guidelines relating to participation of Residents 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 (Notificatio...
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Corporate Laws |
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Export and Import of Currency: Enhanced facilities for residents and non-residents
Posted Date : 20-Jun-2014 , 08:15:22 am | Posted By: CASANSAAR
RBI/2013-14/648A .P. (DIR Series) Circular No.146
June 19, 2014
To
All Authorised Persons
Madam/ Sir,
Export and Import of Currency:Enhanced facilities for residents and non-residents
Attention of Authorised Persons is invited to Regulation (3) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified videNotification No.FEMA.258/2013-RB dated February 15, 2013andA.P. (DIR Series) Circular No. No. 39 dated September 6, 2013, in terms of which, a...
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FEMA |
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Clarifications on CSR Provisions U/s. 135 of Companies Act, 2013
Posted Date : 20-Jun-2014 , 08:14:32 am | Posted By: CASANSAAR
General Circular No. 21/2014,
Dated: 18th June, 2014
Subject: – Clarifications with regard to provisions of Corporate Social Responsibility under section 135 of the Companies Act, 2013.
This Ministry has received several references and representation from stakeholders seeking clarifications on the provisions under Section 135 of the Companies Act, 2013 (herein after referred as ‘the Act’) and the Companies (Corporate Social Responsibility Policy) Rules, 2014, as well as ac...
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Corporate Laws |
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Disclosure of sector-wise advances
Posted Date : 18-Jun-2014 , 09:01:23 pm | Posted By: CASANSAAR
RBI/2013-2014/647DBOD. No.BP.BC.121/21.04.018/2013-14
June 18, 2014
The Chairmen and Managing Directors / Chief Executive Officers ofall Commercial Banks (excluding Regional Rural Banks)
Dear Sir,
Disclosure of sector-wise advances
A reference is invited toparagraph 18of the First Bi-Monthly Monetary Policy Statement 2014-15 announced on April 1, 2014 wherein it was proposed to prescribe certain additional disclosure requirements as per the recommendations of theCommittee on Comprehensive F...
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RBI |
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Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies – Revised format
Posted Date : 18-Jun-2014 , 08:57:58 pm | Posted By: CASANSAAR
RBI/2013-14/646A .P. (DIR Series) Circular No. 145
June 18, 2014
ToAll Category - I Authorised Dealer Banks
Madam / Sir,
Annual Return on Foreign Liabilities and AssetsReporting by Indian Companies – Revised format
Attention of the Authorised Dealer Category – I banks is invited toA.P. (DIR Series) Circular No.133 dated June 20, 2012which stipulated that all Indian companies which have received FDI and/or made FDI abroad in the previous year(s) including the current ye...
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FEMA |
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Clarification with regard to voting through electronic means
Posted Date : 17-Jun-2014 , 07:07:11 pm | Posted By: CASANSAAR
General Circular No. 20/2O14
No. 1/34/2013-cL-V
Government of India
Ministry of Corporate Affairs
5th Floor, A Wing, Shastri Bhavan
Dr R.P. Road, New Delhi
Dated 17th June, 2014
Section 108 of tlle Companies Act, 2013 read with rule 20 of the Companies (Management and Administration) Rules, 2014 deal with theexercise of right to vote by members by electronic means (e-means), The provisions seek to ensure wider shareholders participation in the decisionmaking process in companies. Corpor...
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Corporate Laws |
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Cross Border Inward Remittance under Money Transfer Service Scheme
Posted Date : 17-Jun-2014 , 08:22:36 am | Posted By: CASANSAAR
RBI/2013-14/643A. P. (DIR Series) Circular No. 144
June 16, 2014
To,
All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme (MTSS)
Madam / Sir,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002 - Amendment to Section 13(2) - Cross Border Inward Remittance under Money Transfer Service Scheme
Please refer to ourA.P. ...
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FEMA |
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Money changing Activities - Powers of Director to impose Fine
Posted Date : 17-Jun-2014 , 08:21:45 am | Posted By: CASANSAAR
RBI/2013-14/642A. P. (DIR Series) Circular No. 143
June 16, 2014
To,
All Authorised Persons
Madam / Sir,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002 – Amendment to Section 13(2) – Money Changing Activities
Please refer to ourA.P. (DIR Series) Circular No.17 [A.P. (FL/RL Series) Circular No.04] dated November 27, 2009on &lsq...
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FEMA |
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