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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FEMA |
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Central Repository of Information on Large Credits (CRILC)
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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RBI |
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Foreign Direct Investment
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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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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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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Excise |
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Sums paid on redemption of units or allotment of bonus units won
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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Income Tax |
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Sec. 14A disallowance can be triggered even if exempt income isn
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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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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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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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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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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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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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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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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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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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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Digital Signature - Attestation of Supporting Documents- Postponed
Posted Date : 24-Jan-2014 , 08:26:25 pm | Posted By: Jainam Shah
CCA Office has passed an Order with respect to Attestation ofDSC Applications Supporting Documents ( i.e. Identity Proofs, AddressProofs ) starting from Monday - 13th Jan 2014 onwards is Postponed tillfurther notification....
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Category :
Corporate Laws |
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Conversion of debt into shares, consent level of security enforcement actions and permission to acquire debt from other SC/RCs
Posted Date : 23-Jan-2014 , 07:34:26 pm | Posted By: CASANSAAR
RBI/2013-2014/460DNBS (PD) CC. No. 35/SCRC/26.03.001/2013-2014
January 23, 2014
The Chairman/Managing Director/Chief Executive OfficerAll registered Securitisation Companies/Reconstruction Companies
Dear Sir,
Conversion of debt into shares, consent level of security enforcement actionsand permission to acquire debt from other SC/RCs
Please refer to “The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003” dated April 23, 2003 (her...
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Category :
RBI |
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Review of Guidelines on Restructuring of Advances by NBFCs
Posted Date : 23-Jan-2014 , 07:33:35 pm | Posted By: CASANSAAR
RBI/2013-14/459DNBS.CO. PD. No. 367/03.10.01/2013-14
January 23, 2014
All NBFCs excluding Primary Dealers
Dear Sirs,
Review of Guidelines on Restructuring of Advances by NBFCs
As indicated inparagraph 42of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013, the extant instructions on restructuring of advances by NBFCs have been reviewed on the lines of the recommendations of the Reserve Bank’s Working Group (Chairman: Shri B. Mahapatra) to review pruden...
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Category :
RBI |
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Collection of Account Payee Cheques - Prohibition on Crediting Proceeds to Third Party Account
Posted Date : 23-Jan-2014 , 09:07:27 am | Posted By: CASANSAAR
RBI/2013-14/458DBOD.BP.BC.No. 87/21.01.001/2013-14
January 22, 2014
The Chairmen / Chief Executives ofAll Scheduled Commercial Banks (excluding RRBs)
Collection of Account Payee Cheques -Prohibition on Crediting Proceeds to Third Party Account
Please refer to ourcircular DBOD.BP.BC.No.50/21.01.001/2011-12 dated November 4, 2011advising banks that they are prohibited from crediting 'account payee' cheques to the account of any person other than the payee named therein. We reiterate ...
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RBI |
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NEFT
Posted Date : 22-Jan-2014 , 06:07:52 pm | Posted By: CASANSAAR
RBI/2013-14/457DPSS.CO.EPPD No.1583/04.03.01/2013-14
January 21, 2014
The Chairman and Managing Director / Chief Executive Officerof member banks participating in NEFT
Madam / Dear Sir,
NEFT – Customer Service and Charges – Adherence to Procedural Guidelines and Circulars
The National Electronic Fund Transfer (NEFT) System, operational since November 2005 has seen an exponential growth in terms of volumes handled by the system, with a vast number of customers (individuals, corpo...
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Category :
RBI |
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0 | Hits : 898
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President gives his assent to creation of Directorate of Income-tax (Risk Assessment)
Posted Date : 22-Jan-2014 , 08:19:47 am | Posted By: CASANSAAR
CREATION OF DIRECTORATE OF INCOME-TAX (ASSESSMENT) AT NEW DELHI
NOTIFICATION NO.GSR 22(E) [F.NO.HRD/CM/196/1/2013-14/26/2014-AD.VII],DATED 16-1-2014
The President of India is pleased to give his assent to the creation of Directorate of Income Tax (Risk Assessment), Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, with immediate effect.
2.The Directorate of Income Tax (Risk Assessment) will be headed by a Director General of Income Tax who will be an officer of ...
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Category :
Income Tax |
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Clarification regarding issue of Discharge Certificate under VCES and availment of CENVAT credit
Posted Date : 20-Jan-2014 , 07:51:52 pm | Posted By: CASANSAAR
Circular No. 176/2/2014 - ST
F. No. B1/19/2013-TRU (Pt)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Tax Research Unit
*****
New Delhi, dated the 20thJanuary, 2014
To,
Chief Commissioners of Central Excise and Customs (All),
Director General (Service Tax), Director General (Systems),
Director General (Central Excise Intelligence),Director General (Audit),
Commissioners of Service Tax (All),
Commissioners of Central Excise (All),
...
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Category :
Service Tax |
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Lending against Gold Jewellery
Posted Date : 20-Jan-2014 , 07:03:00 pm | Posted By: CASANSAAR
RBI/2013-14/453DBOD.BP.BC.No.86 /21.01.023 /2013-14
January 20, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Lending against Gold Jewellery
Please refer to our circular DBOD.No.BC.138/21.01.023/94 dated November 22, 1994 on ‘Advances against Gold Ornaments and Jewellery for the purpose of Medical Expenses and Meeting Unforeseen Liabilities’, wherein banks were advised that while granting advances against gold ornaments and jewellery, they should observe the ne...
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Category :
FEMA |
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Facilities for Persons Resident outside India
Posted Date : 20-Jan-2014 , 07:01:02 pm | Posted By: CASANSAAR
RBI/2013-14/454A.P. (DIR Series) Circular No.96
January 20, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Facilities for Persons Resident outside India – Clarification
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 [Notification No. FEMA/25/RB-2000] andA.P. (DIR Series) Circular No.45 dated October 22, 2012in terms of...
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Category :
FEMA |
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