Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
Posted Date : 06-Nov-2013 , 08:13:55 pm | Posted By: CASANSAAR
RBI/2013-14/359DNBS.PD/ CC.NO.359 /03.10.001/2013-14
November 06, 2013
All NBFCs
Dear Sirs,
Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
A reference is invited to ourCircular No DNBS.PD/ CC.NO.316 /03.10.001/2012-13 December 20, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by March 31, 2013.
2. Reference is al...
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DVAT – Clarifications for filing returns online
Posted Date : 06-Nov-2013 , 03:40:52 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
(POLICY BRANCH)
VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002
No.F.7(420)/VAT/Policy/2011/PF /932-938 Dated:06/11/2013
CIRCULAR No. 22 of 2013-14
Sub – Clarifications for filing returns online.
Return forms DVAT-16 and Form1 along with annexures and DVAT-30 & 31 have beenamended vide notifications issued on 20-09-2013. Thus, the second quarter return of t...
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VAT |
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Formation of seven new districts in the State of Gujarat - Assignment of Lead Bank Responsibility
Posted Date : 06-Nov-2013 , 03:32:42 pm | Posted By: CASANSAAR
RBI/2013-14/358RPCD.CO.LBS.BC.No. 53 /02.08.001/2013-14
November 6, 2013
The Chairmen & Managing DirectorsAll Lead Banks
Dear Sir/Madam,
Formation of seven new districts in the State of Gujarat -Assignment of Lead Bank Responsibility
The Government of Gujarat vide The Gujarat Government Gazette Notification No. GHM/2013/69 to 75 /M/PFR/102013/139/L.I dated August 13, 2013 had notified the formation of seven new districts in the State of Gujarat. It has been decided to assign the...
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CBDT Instruction on Receipt/Revenue Audit Objections
Posted Date : 06-Nov-2013 , 08:49:35 am | Posted By: CASANSAAR
Instruction No. 16/2013
F. No.246/95/2013-A&PAC-I
Government of India
Ministry of Finance
Department of Revenue
CentralBoard ofDirect Taxes
New Delhi, the 31st October, 2013
To
All CCsIT (CCA), CCsIT/DGsIT
Subject: Revision of Instruction No. 09 of 2006 on Receipt/Revenue Audit Objections
Sir/Madam,
Reference is invited to Board’s Instruction No.9 of 2006 dated 7.11.2006 on Receipt/Revenue Audit Objections (hereinafter Instruction). It is a matter of concern that despi...
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Income Tax |
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Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor
Posted Date : 04-Nov-2013 , 09:24:11 pm | Posted By: CASANSAAR
Reference is invited to General Circular No. 14/2013 dated 3 rdSeptember,2013 throughwhich the last date of filing and to relax the additional fee applicable on e-form 23C wasextended up to 31 stOctober, 2013 or within 30 days of the commencement of the company’sfinancial year to which the appointment relates, whichever is later.
2. It has now been decided to extend the last date of filing and to relax the additional feeapplicable on e-form 23C to 30 thNovember, 2013 or within 30 days o...
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Corporate Laws |
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Foreign Direct Investment (FDI) in India –definition of ‘Group Company’
Posted Date : 01-Nov-2013 , 08:33:59 pm | Posted By: CASANSAAR
RBI/2013-14/356A.P. (DIR Series) Circular No.68
November 01, 2013
To
All Category – I Authorised Dealer banks
Madam/Sir,
Foreign Direct Investment (FDI) in India –definition of ‘group company’
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank videNotification No. FEMA. 20/2000-...
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FEMA |
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Investment portfolio of Urban Co-operative Banks (UCBs) Classification, Valuation and Provisioning
Posted Date : 01-Nov-2013 , 08:32:24 pm | Posted By: CASANSAAR
RBI/2013-14/357UBD.BPD.(PCB)CIR No. 36/16.20.000/2013-14
November 1, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Investment portfolio of Urban Co-operative Banks (UCBs)Classification, Valuation and Provisioning
Please refer to ourcircular UBD.No.PCB.Cir.16/16.20.00/2004-05 dated September 2, 2004, in terms of which Urban Co-operative Banks (UCBs) were advised that the limit of 25 per cent of total investments under Held to Maturity (HTM) category ...
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Marginal Standing Facility-Revision in timings
Posted Date : 31-Oct-2013 , 07:33:01 pm | Posted By: CASANSAAR
RBI/2013-14/351FMD.MOAG. No. 93/01.18.001/2013-14
October 31, 2013
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility-Revision in timings
As announced in theSecond Quarter Review of the Monetary Policy 2013-14on October 29, 2013, it has been decided to revise the timings of Marginal Standing Facility (MSF). The MSF will now be available between 7.00 pm and 7.30 pm instead of the existing timings of 4.45 pm to 5.15 pm. The change in timings will take effe...
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RBI |
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PVAT - Date of e-filing of returns for the IInd quarter is extended upto 5th Nov 13.
Posted Date : 30-Oct-2013 , 08:25:36 pm | Posted By: CASANSAAR
Due to heavy rish on online e-filing and on demand by the trading community the date of e-filing of returns for the second quarter i.e. 01-07-2013 to 30-09-2013 is extended upto 5th November 2013....
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PVAT - Enhanced limit for Audit from 50 Lakh to 1 Cr will be applicable for the Year 2012-13
Posted Date : 29-Oct-2013 , 07:43:09 pm | Posted By: CASANSAAR
Its is clarified that the enhanced limit for Audit from Rs.50 Lakh to Rs.1 Crore will be applicable for the Year 2012-13 for which VAT-20 is to be file by 20.11.2013...
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VAT |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 29-Oct-2013 , 07:08:47 pm | Posted By: CASANSAAR
RBI/2013-14/343MPD. No.BC. 370/07.01.279/2013-14
October 29, 2013
ToAll Scheduled Banks [excluding Regional Rural Banks(RRBs) ]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theSecond Quarter Review of Monetary Policy Statement 2013-14 dated October 29, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.50 per cent to 7.75 per cent with immediate effe...
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Due diligence in correspondent banking relationship
Posted Date : 29-Oct-2013 , 07:08:06 pm | Posted By: CASANSAAR
RBI/2013-14/342DBOD.AML.BC.No.63/14.01.001/2013-14
October 29, 2013
The Chairmen / Chief Executive Officers ofAll Scheduled Commercial Banks (excluding Regional Rural Banks)
Dear Sir,
Due diligence in correspondent banking relationship.
Please refer toparagraph 2.16of our Master Circular DBOD. AML.BC.24/14.01.001/2012-13 dated July 1, 2013 on ‘Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obligation of banks under P...
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RBI |
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Marginal Standing Facility Rates
Posted Date : 29-Oct-2013 , 07:07:21 pm | Posted By: CASANSAAR
RBI/2013-14/340FMD.MOAG. No. 91/01.18.001/2013-14
October 29, 2013
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility Rates
As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 25 basis points from 9.00 percent to8.75 per centwith immediate effect.
2. Consequent to this change, Marginal Standing Facility (MSF) rate is recalibrated to 100 basis points abo...
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 29-Oct-2013 , 07:06:47 pm | Posted By: CASANSAAR
RBI/2013-14/339FMD.MOAG. No. 90/01.01.001/2013-14
October 29, 2013
All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers
Madam / Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to increase the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.50 per cent to7.75 per centwith immediate effect.
2. Consequent to the c...
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Delhi VAT – Last date for Mismatch extended
Posted Date : 25-Oct-2013 , 07:51:56 am | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITALTERRITORYOF DELHI
DEPARTMENTOF TRADE& TAXES
Attention-All Registered VATDealers– Last date for Mismatch extended
The Department intends to frame theassessmentof all registereddealersfor the third andfourth Quarter2012-13 tax-periods onthe basisof mismatch in the online data as on 31/10/2013 filed by thedealersin Annexure 2A and 2B of their return.
Alldealersare hereby requestedto checkthe statusof matching of purchase data filed by them with th...
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Students Zone |
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Section 23 of B. R. Act, 1949 (AACS) - Authorization for Specialized Branches – Central Processing Centres (CPCs) / Retail Assets Processing Centres etc
Posted Date : 24-Oct-2013 , 08:08:19 pm | Posted By: CASANSAAR
RBI/2013-14/336UBD.CO.LS.(PCB).Cir.No. 30/07.01.000/2013-14
October 15, 2013
Chief Executive Officers ofall Primary (Urban) Co-operative Banks
Dear Sir/ Madam,
Section 23 of B. R. Act, 1949 (AACS) - Authorization for Specialized Branches – Central Processing Centres (CPCs) / Retail Assets Processing Centres etc.
We have of late been receiving requests from banks for setting up of Specialized Branches like Central Processing Centres (CPCs)/ Retail Assets Processing Centres/ Regional/ Z...
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Sharing of Information Technology Resources by Banks - Guidelines
Posted Date : 24-Oct-2013 , 08:07:31 pm | Posted By: CASANSAAR
RBI/2013-14/335RPCD.CO.RRB.BC.No. 45/03.05.33/2013-14
October 24, 2013
The ChairmenAll Regional Rural Banks
Dear Sir,
Sharing of Information Technology Resources by Banks - Guidelines
Please refer toparagraph 101of the Monetary Policy Statement 2013-14 wherein the need for banks to examine the issue of shared IT resources to optimise costs while maintaining the desired levels of efficiency and security has been emphasised.
2. One of the pre-requisites for a bank to consume shared IT resour...
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RBI |
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CBDT Technically Extends due date of Tax Audit & Income Tax Return from 30-9-13 to 31-10-13.
Posted Date : 24-Oct-2013 , 03:16:07 pm | Posted By: CASANSAAR
F.No. 225/117/2013/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Dated- 24th October, 2013
Order under Section 119 of the Income-tax Act. 1961.
In exercise of powers conferred under section 119 of the Income-tax 1961, the Central Board of Direct Taxes, in continuation to order u/s 119 dated 26.09.2013 in F.No. 225/117/2013/1TA.II, hereby directs that in cases where the 'due date' of furnishing reports of audit and corresponding ...
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Income Tax |
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Amendments to Banking Regulation Act 1949 -- Banking Laws (Amendment) Act 2012 - Applicability to private sector banks
Posted Date : 24-Oct-2013 , 07:49:40 am | Posted By: CASANSAAR
RBI/2013-14/334DBOD.NO.PSBD.BC.62/16.13.100/ 2013-14
October 23, 2013
All Private Sector Banks
Dear Sir,
Amendments to Banking Regulation Act 1949 -- Banking Laws(Amendment) Act 2012 - Applicability to private sector banks
As you are aware, the Government of India, Ministry of Finance, notified the Banking Law Amendments Act, 2012, vide Gazette Notification dated January 17, 2013, (published in Part II- Section 3--sub-section (ii) of the Gazette of India No.177 dated January 18, 2...
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Services provided by factory canteen having AC or central air-heating, exempted
Posted Date : 24-Oct-2013 , 07:37:24 am | Posted By: CASANSAAR
Government of IndiaMinistry of Finance(Department of Revenue)
Notification No. 14/2013-Service Tax
New Delhi, 22ndOctober, 2013
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 (Department of Revenue), N...
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Service Tax |
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Section 23 of the Banking Regulation Act, 1949 – Relaxations in Branch Authorisation Policy
Posted Date : 21-Oct-2013 , 05:50:08 pm | Posted By: CASANSAAR
RBI/2013-14/330DBOD.No.BAPD.BC. 60/22.01.001/2013-14
October 21, 2013
All Domestic Scheduled Commercial Banks(excluding RRBs)
Madam / Dear Sir
Section 23 of the Banking Regulation Act, 1949 –Relaxations in Branch Authorisation Policy
Please refer to circularDBOD.No.BAPD.BC.54/22.01.001/2013-14 dated September 19, 2013, on the above subject, advising that domestic scheduled commercial banks (other than RRBs) are permitted to open branches in Tier 1 to Tier 6 centres without having the ...
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Special Deposit Scheme (SDS), 1975 – Revision of Rate of Interest
Posted Date : 21-Oct-2013 , 05:49:19 pm | Posted By: CASANSAAR
RBI/2013-14/329DGBA.CDD. No. 2319/15.01.001/2013-14
October 09, 2013
The Chairman & Managing DirectorHead Office (Government Accounts Department)State Bank of India and its Associates/Allahabad Bank /Bank of Baroda /Bank of India /Bank of Maharashtra/Canara Bank /Central Bank of India /Corporation Bank /Dena Bank /Indian Bank/Indian Overseas Bank/Oriental Bank of Commerce /Punjab National Bank /Syndicate Bank /UCO Bank /Union Bank of India /United Bank of India
Dear Sir/Madam,
Special De...
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RBI |
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Regarding applicability of CVD on Steam Coal imported from Indonesia under FTA notification No. 46/2011-Customs
Posted Date : 21-Oct-2013 , 05:47:07 pm | Posted By: CASANSAAR
Circular No. 41/2013-Customs
F.No.354/58/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
***
R.No.146 I, North Block
New Delhi, dated the 21stOctober, 2013
To
The Chief Commissioner of Customs (All)
The Chief Commissioner of Customs & Central Excise (All)
The Director General (All)
Sir/Madam,
Subject:Applicable CVD on Steam Coal imported from Indonesia under FTA notification No. 46/2011-Customs-reg.
I am directed to invite your at...
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Custom |
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Sharing of Information Technology Resources by banks – guidelines
Posted Date : 18-Oct-2013 , 07:50:52 pm | Posted By: CASANSAAR
RBI/2013-14/327UBD CO BPD No.31/09.18.300/2013-14
October 17, 2013
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Sharing of Information Technology Resources by banks – guidelines
As announced in the Monetary Policy Statement 2013-14 (paragraph 101), with the increased use of information technology (IT) infrastructure by banks, there is a need to examine the issue of shared IT resources in order to optimise costs while maintaining the desir...
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RBI |
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Change of Name of SME Rating Agency of India Limited to SMERA Ratings Limited (SMERA)
Posted Date : 18-Oct-2013 , 07:49:47 pm | Posted By: CASANSAAR
RBI/2013-14/326DBOD.BP.BC.No.59/21.06.007/2013-14
October 17, 2013
The Chairman and Managing Director/The Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks)
Dear Sir,
Change of Name of SME Rating Agency of India Limited toSMERA Ratings Limited (SMERA)
Please refer to theMaster Circular No. DBOD.No.BP.BC.9/21.06.001/2012-13 dated July 1, 2013on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequac...
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RBI |
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Advisory to CAs on VAT Audit Report AR1 & Special Audit
Posted Date : 15-Oct-2013 , 11:26:12 am | Posted By: Priyabakhtani
...
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Students Zone |
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Closing of Old Outstanding Bills : Export-Follow-up–XOS Statements
Posted Date : 14-Oct-2013 , 09:06:02 pm | Posted By: CASANSAAR
RBI/2013-14/325A.P. (DIR Series) Circular No. 62
October 14, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Closing of Old Outstanding Bills:Export-Follow-up –XOS Statements
Attention of Authorized Dealer Category – I (AD Category – I) banks is invited toA. P. (DIR Series) Circular No. 12 dated September 9, 2000in terms of which AD Category – I banks are required to furnish to the Regional Office concerned of the Reserve Bank, a consolidated statement...
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FEMA |
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Advisory to CAs on VAT Audit Report AR1 & Special Audit
Posted Date : 14-Oct-2013 , 09:04:59 pm | Posted By: CASANSAAR
The Dep.artment of Trade & Taxes, Government of NCT of Delhi vide notificationdated 11th February, 2013 under Section 49 of the Delhi Value Added Tax Act, 2004 and Rule 42 A of the VAT Rules, 2005 has made the VAT Audit by Chartered Accountants mandatoryfor dealers With gross turnover of Rs.10 Crore and above in 2011-12 or in any of the subsequent financial year. The Department has prescribed a comprehensive VAT Audit Report AR1 for this purpose. This provision is being implemented for the f...
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VAT |
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CBDT issues circular on income-tax deduction from salaries for financial year 2013-14
Posted Date : 14-Oct-2013 , 08:48:22 am | Posted By: CASANSAAR
Reference is invited to Circular No.08/2012 dated 05.10.2012 whereby the rates ofdeduction of income-tax from the payment of income under the head "Salaries" underSection 192 of the Income-tax Act, 1961(hereinafter ‘the Act’), during the financial year2012-2013, were intimated. The present Circular contains the rates of deduction of income-taxfrom the payment of income chargeable under the head "Salaries" during the financial year2013-2014 and explains certain related provisions ...
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Income Tax |
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Launch of new RTGS System
Posted Date : 11-Oct-2013 , 09:10:53 pm | Posted By: CASANSAAR
RBI/2013-14/324DPSS (CO) RTGS No.801/04.04.017/2013-14
October 11, 2013
The Chairperson / Chief Executive OfficerRTGS Members
Madam / Dear Sir,
Launch of new RTGS System
Please refer to ourCircular RBI/2012-13/355 [DPSS (CO) RTGS No.1052/04.04.017/2012-13 dated December 31, 2012] regarding implementation of new RTGS System conforming to ISO 20022 messaging standard.
2. The new RTGS system will be operationalized onOctober 19, 2013and the “RTGS System Regulations 2013&rdqu...
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