Annual Turnover Target on behalf of Mid-segment and Retail investors for Primary Dealers (PDs)
Posted Date : 06-Jun-2014 , 08:47:00 am | Posted By: CASANSAAR
RBI/2013-14/630IDMD.PDRD.No. 3404/03.64.000/2013-14
June 5, 2014
All Market participants
Dear Sir/Madam,
Annual Turnover Target on behalf of Mid-segment and Retail investors for Primary Dealers (PDs)
Attention of PDs is invited to ourcircular IDMD.PCD.9/14.03.05/2011-12 dated August 30, 2011andpara 1.3.7of Master Circular on Operational Guidelines to PDs dated July 01, 2013 on the captioned subject.
2. It has been decided to enhance the minimum annual target for mid-segment and retail inve...
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RBI |
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Foreign investment in the Insurance Sector – Amendment to the Foreign Direct Investment Scheme
Posted Date : 06-Jun-2014 , 08:46:30 am | Posted By: CASANSAAR
RBI/2013-14/629A.P. (DIR Series) Circular No.139
June 5, 2014
ToAll Category – I Authorised Dealer Banks
Madam/ Sir,
Foreign investment in the Insurance Sector – Amendment to the Foreign Direct Investment Scheme
Attention of Authorised Dealers 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 (the Principal Regulations), not...
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FEMA |
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MCA changes CIN of Companies Located in Telangana State
Posted Date : 05-Jun-2014 , 09:16:20 am | Posted By: CASANSAAR
State Code in the CIN of the Companies which are located in Telangana based on the address available in the database has been changed from “AP” to “TG”. Complete list of such companies may be viewed at following link :
""http://mca.gov.in/Ministry/pdf/AP_to_TG.pdf"...
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Corporate Laws |
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Special Term Repo Auction
Posted Date : 05-Jun-2014 , 09:14:17 am | Posted By: CASANSAAR
RBI/2013-14/627FMD.MOAG. No. 103/01.01.009/2013-14
June 4, 2014
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Special Term Repo Auction
As announced yesterday in theSecond Bi-Monthly Monetary Policy Statement for 2014-15, it has been decided to introduce special term repo auctions of 28-day tenor for a notified amount up to 0.25 per cent of net demand and time liabilities (NDTL) of the banking system. The 28-day special term repo auction will usually be conducted on non-repor...
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RBI |
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Liberalised Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000
Posted Date : 04-Jun-2014 , 07:44:11 am | Posted By: CASANSAAR
RBI/2013-14/624A.P. (DIR Series) Circular No.138
June 3, 2014
To
All Category – I Authorised Dealer Banks
Madam/Sir,
Liberalised Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to theA.P.(DIR Series) Circular No 24 dated August 14, 2013and the subsequent clarifications issued videA.P. (DIR Series) Circular No 32 dated September 04, 2013regarding the...
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FEMA |
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Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
Posted Date : 04-Jun-2014 , 07:43:21 am | Posted By: CASANSAAR
RBI/2013-14/622DBOD.Ret.BC.117/12.02.001/2013-14
June 03, 2014
All Scheduled Commercial Banksand Local Area Banks(Excluding Regional Rural Banks)
Dear Sir,
Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
Please refer to ourcirculars DBOD.Ret.BC.33/12.02.001/2012-13 dated July 31, 2012andDBOD.Ret.BC.48/12.02.001/2012-13 dated September 28, 2012on the captioned subject.
2. As announced in theSecond Bi-Monthly Monetary Policy Statement 2014-15by...
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RBI |
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Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure-Clarifications
Posted Date : 04-Jun-2014 , 07:42:33 am | Posted By: CASANSAAR
RBI/2013-14/620DBOD.No.BP.BC.116/21.06.200/2013-14
June 3, 2014
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding RRBs and LABs)
Dear Sir,
Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure-Clarifications
Please refer to ourcircular DBOD.No. BP.BC. 85/21.06.200/2013-14 dated January 15, 2014detailing guidelines on capital and provisioning requirements for exposures to entities with Unhedged...
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RBI |
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CBDT mandates e-filing of reports prescribed under Sections 10AA, 44DA, 50B and 115VW wef April 1, 2014
Posted Date : 02-Jun-2014 , 09:21:36 pm | Posted By: CASANSAAR
INCOME-TAX (SIXTH AMENDMENT) RULES, 2014 – AMENDMENT IN RULE 12 AND SUBSTITUTION OF FORMS ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7
NOTIFICATION NO.28/2014 [F.NO.142/2/2014-TPL]/SO 1418(E),DATED 30-5-2014
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(6th Amendment)Rules, 2...
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Income Tax |
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CBDT releases FORM ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 for A.Y. 2014-15
Posted Date : 01-Jun-2014 , 11:01:12 am | Posted By: CASANSAAR
Income-taxNotificationNo. 28/2014, Dated- 30thday of May, 2014
S.O. 1418(E).─Inexerciseof 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) These rules may be called the Income-tax (6thAmendment) Rules, 2014.
(2) They shall be deemed to have come into force with effect from the 1st day of April, 2014.
2. In the Inc...
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Income Tax |
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Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961-UCBs
Posted Date : 30-May-2014 , 08:06:22 pm | Posted By: CASANSAAR
RBI/2013-14/619UBD. CO. BPD. PCB. Cir. No. 67/09.50.001/2013-14
May 30, 2014
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Madam/ Dear Sir,
Deferred Tax Liability on Special Reserve created underSection 36(1) (viii) of the Income Tax Act, 1961-UCBs
It has been observed that some banks are not creating deferred tax liability (DTL) on Special Reserve as per Accounting Standard 22:'Accounting for taxes on Income' (AS 22) on the ground that they do not intend t...
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RBI |
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CBDT to share wealth tax return detail of loan defaulters with Public Sector Banks
Posted Date : 30-May-2014 , 08:02:57 am | Posted By: CASANSAAR
F. No. 328/10/2014-WT
Government of India
Ministry of Finance
Department ofRevenue
(Central Board of Direct Taxes)
New Delhi the 28thMay 2014
To
The Principal Chief Commissionersof Income Tax
Sub: Sharing of asset details as per Return of Wealth with PublicSector Banks-reg.
During a review meeting on the performance of PublicSector Banks(PSBs) taken by Finance Minister on 5.3.2014, the PSBs raised concern thatthe detailsof assets as available in theWealth TaxReturns ofloandefaulters are...
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Income Tax |
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Formation of new State of Telangana – Assignment of SLBC Convenorship
Posted Date : 28-May-2014 , 08:11:06 pm | Posted By: CASANSAAR
RBI/2013-14/617RPCD.CO.LBS.No.13027/02.01.001/2013-14
May 28, 2014
The Chairman & Managing DirectorAll SLBC Convenor banks
Dear Sir/Madam,
Formation of new State of Telangana – Assignment of SLBC Convenorship
As per The Gazette of India Notification No. 6 of 2014 dated March 1, 2014, the 29thState of the country viz. Telangana has been formed and the appointed day has been fixed as June 2, 2014.
2. It has been decided to assign the SLBC convenorship of Telangana State to State Ba...
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RBI |
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Crystallization of Inoperative Foreign Currency Deposits
Posted Date : 28-May-2014 , 08:10:20 pm | Posted By: CASANSAAR
RBI/2013-14/616A.P. (DIR Series) Circular No.136
May 28, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Crystallization of Inoperative Foreign Currency Deposits
The Reserve Bank of India, in exercise of the powers conferred by subsections (1) and (5) of Section 26(A) of the Banking Regulation Act, 1949 (10 of 1949) has formulated the Reserve Bank (Depositor Education and Awareness Fund) Scheme, 2014. This Fund will be credited with the credit balances of any account in India...
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FEMA |
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Lending to Public Sector Undertakings
Posted Date : 28-May-2014 , 08:09:39 pm | Posted By: CASANSAAR
RBI/2013-14/615UBD.CO.BPD.(PCB) Cir No. 66/13.05.000/2013-14
May 28, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Lending to Public Sector Undertakings
It has been observed that a few Urban Cooperative Banks (UCBs) have been sanctioning high value loans to Public Sector Undertakings (PSUs) by admitting them as nominal members or otherwise.
2. As you are aware, UCBs are meant primarily to meet the credit needs of the society by providing loans an...
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RBI |
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Risk Management and Inter Bank Dealings
Posted Date : 28-May-2014 , 07:45:08 am | Posted By: CASANSAAR
RBI/2013-14/613A.P.(DIR Series) Circular No.135
May 27, 2014
ToAll Category - I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter Bank Dealings
Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3, 2000) as amended from time to time andA.P. (DIR Series) circular no. 32 dated December 28, 2010, as amen...
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FEMA |
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Rounding off transactions to the Nearest Rupee by NBFCs
Posted Date : 27-May-2014 , 05:43:07 pm | Posted By: CASANSAAR
RBI/2013-14/609DNBS.CC.PD.No.377/03.10.01/2013-14
May 27, 2014
To
All Non-Banking Financial Companies
Dear Sir,
Rounding off transactions to the Nearest Rupee by NBFCs
It has come to the notice of the Reserve Bank that some non-banking financial companies (NBFCs) are carrying out transactions, including payment of interest on deposits/ charging interest of advances etc., without rounding off to the nearest rupee. In order to obviate unnecessary discomfort to the public and also to align wi...
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RBI |
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Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs
Posted Date : 26-May-2014 , 10:16:43 pm | Posted By: CASANSAAR
RBI/2013-14/606DNBS (PD) CC.No.376/03.10.001/2013-14
May 26, 2014
All NBFCs (excluding Primary Dealers)
Dear Sirs,
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs
Under Section 45 IA (4)(c) of the RBI Act, 1934, a certificate of Registration can only be given to a company if the Bank is satisfied, inter alia, that the general character of the management or the proposed management of the non-banking financial company shall not be prejudic...
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RBI |
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Extension of validity period for names reserved as on 31st March, 2014
Posted Date : 25-May-2014 , 02:58:50 pm | Posted By: CASANSAAR
General Circular 13/2014 dated 23/05/204.
Extension of validity period for names reserved as on 31st March, 2014.
...
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Corporate Laws |
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Applicability of PAN requirement for Foreign Nationals.
Posted Date : 25-May-2014 , 02:56:57 pm | Posted By: CASANSAAR
General Circular 12/2014 dated 22/05/2014
Attention of Ministry has been drawn to diffrculties being faced by Foreign Nationals while filing Incorporation form (lNC-71 due to mandatory requirement of submission of PAN details of intending Directors at the time of filing the application for incorporation.
It is hereby clarified that PAN details are mandatory only for those foreign nationals who are required to possess "PAN" in terms of provisions of the Income Tax Act, 1961 on the dat...
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Corporate Laws |
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Import of Gold by Nominated Banks / Agencies / Entities
Posted Date : 22-May-2014 , 07:43:50 am | Posted By: CASANSAAR
RBI/2013-14/600A.P. (DIR Series) Circular No.133
May 21, 2014
To
All Scheduled Commercial Banks which are Authorized Dealers (ADs) inForeign Exchange/ All Agencies nominated for import of gold
Madam/ Sir,
Import of Gold by Nominated Banks / Agencies / Entities
Attention of Authorised Persons is drawn to the Reserve Bank'sA.P. (DIR Series) Circular No. 25 dated August 14, 2013; and the subsequent circulars, on the captioned subject.
2. The Government of India and Reserve Bank of India has ...
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Category :
FEMA |
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Need for Bank Branches / ATMs to be made accessible to persons with disabilities
Posted Date : 22-May-2014 , 07:43:01 am | Posted By: CASANSAAR
RBI/2013-14/598DBOD.No.Leg.BC.113/09.07.005/2013-14
May 21, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Need for Bank Branches / ATMs to be madeaccessible to persons with disabilities
Please refer to ourcircular DBOD.No.Leg.BC.123 /09.07.005/2008-09 dated April 13, 2009on the captioned subject, wherein banks were advised to provide, inter alia, ramps in all existing and future ATMs, and make at least one third of new ATMs installed as talking ATMs with Braille keypad...
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RBI |
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Export of Goods - Long Term Export Advances
Posted Date : 22-May-2014 , 07:42:21 am | Posted By: CASANSAAR
RBI/2013-14/597A.P. (DIR Series) Circular No.132
May 21, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Export of Goods - Long Term Export Advances
Attention of Authorised Dealer Category - I (AD Category I) banks is invited to the sub-regulation (2) of Regulation 16 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, notified videNotification No.FEMA.23/RB- 2000, dated 3rd May 2000, as amended from time to time, in terms of which prior ...
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FEMA |
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Orders Passed Under Section 264 of the Income Tax Act - Administrative Supervision
Posted Date : 20-May-2014 , 07:52:56 pm | Posted By: CASANSAAR
Under Section 264 of the Income Tax Act, 1961 (hereinafter referred to as the Act), theCommissioner of Income Tax (CIT) may, either of his own motion or on an application made bythe assessee, revise an order passed by an authority subordinate to him. The CIT may, beforerevising such, order, make enquiry or cause such enquiry to be made and subject to theprovisions of the Act, pass such order which is not prejudicial to the assessee.
2. The statutory function under section 264 of the Act perf...
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Income Tax |
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CBDT gives option to individuals to show mother's name on PAN card; notifies revised forms 49A and 49AA
Posted Date : 20-May-2014 , 07:22:10 pm | Posted By: CASANSAAR
INCOME-TAX (FIFTH AMENDMENT) RULES, 2014 - SUBSTITUTION OF FORMS 49A AND 49AA
NOTIFICATION NO. 26/2014 [F.NO.142/15/2013-TPL]/SO 2045(E),DATED 16-5-2014
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 (5th Amendment) Rules, 2014.
(2) They shall come into force on t...
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Category :
Income Tax |
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Overseas Direct Investments - Limited Liability Partnership (LLP) as Indian Party
Posted Date : 19-May-2014 , 07:33:52 pm | Posted By: CASANSAAR
RBI/2013-14/595A.P. (DIR Series) Circular No.131
May 19, 2014
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Overseas Direct Investments – Limited Liability Partnership (LLP) as Indian Party
Attention of the Authorised Dealers (AD) is invited to Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 notified by the Reserve Bank videNotification No. FEMA.120/RB-2004 dated July 07, 2004and amended from time to time.
2. On a review,...
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Category :
FEMA |
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MCA provides One time opportunity for extension of Period of Reservation of Name
Posted Date : 18-May-2014 , 01:53:00 pm | Posted By: CASANSAAR
GeneralCircularNo. 11/2014
MCA 21/ 72/ 2014-e-gov.Cell
Government of India
Ministry ofCorporateAffairs
“A” Wing, 5th Floor, Shastri Bhawan
Dr. R.P Road, New Delhi-110001
Date 12th May, 2014
To
All Regional Directors,
All Registrarof Companies,
All Stakeholders.
Sub: – One time opportunity for extension of Period of Reservation of Name.
Sir,
Services for incorporationof companieswere not available on the MCA 21 portal to stakeholders from 1stApril, 2014 to 28t...
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Category :
Corporate Laws |
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CBDT Orders Posting of 195 Commissioners and JCIT
Posted Date : 17-May-2014 , 08:07:55 am | Posted By: CASANSAAR
The CBDT has vide Order No. 69 of 2014 dated 16.05.2014 ordered the postings of 47officersof the grade of Commissioner/Director ofIncome-tax.Theseofficerswereearlierpromoted vide order no. 32 of 2014 dated 20th February, 2014.
Vide another Order No. 70 of 2014 dated 16.05.2014 the CBDT has ordered the posting of 148officerspromoted to the grade of Joint Commissioners/ Joint Directors of Income-tax. Theseofficerswereearlierpromoted to the grade of Joint Commissioners/ Joint Directors of Income...
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Income Tax |
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External Commercial Borrowings (ECB) from Foreign Equity Holder - Simplification of Procedure
Posted Date : 17-May-2014 , 07:56:02 am | Posted By: CASANSAAR
RBI/2013-14/594A.P. (DIR Series) Circular No.130
May 16, 2014
To
All Category – I Authorised Dealer Banks
Madam/Sir,
External Commercial Borrowings (ECB) from Foreign Equity Holder - Simplification of Procedure
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to theA.P. (DIR Series) Circular No. 05 dated August 01, 2005as amended from time to time relating to the External Commercial Borrowings (ECB). Attention is also invited toA. P. (DIR Ser...
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FEMA |
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Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies
Posted Date : 17-May-2014 , 07:55:14 am | Posted By: CASANSAAR
RBI/2013-14/593UBD.CO.BPD.(PCB) Cir No. 63/13.05.000/2013-14
May 16, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies
Please refer tocircular UBD.CO.BPD.(PCB).Cir.No.38/13.05.000/2013-14 dated November 14, 2013wherein Financially Sound and Well Managed UCBs as de...
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Category :
RBI |
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Regarding classification of rice par-boiling machinery
Posted Date : 15-May-2014 , 10:12:56 pm | Posted By: CASANSAAR
Circular No. 982 / 06 / 2014 – CX
F. No. 167/42/2009-CX.1
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
……….
Dated: 15.05.2014
To
All the Chief Commissioners of Central Excise,
All the Chief Commissioners of Customs,
All the Directors General.
Sirs,
Subject-Classification of rice par-boiling machinery – reg.
I am directed to draw your attention to Circular No. 924/14/2010-CX dated 19....
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Category :
Excise |
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