Liquidity Adjustment Facility- Reverse Repo
Posted Date : 17-Jan-2014 , 05:23:58 pm | Posted By: CASANSAAR
RBI/2013-14/451FMD.MOAG. No.95/01.01.001/2013-14
January 17, 2014
All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers
Madam / Sir,
Liquidity Adjustment Facility- Reverse Repo
Based on the feedback received from the market participants, it has been decided to revise the timings ofReverse Repo window under Liquidity Adjustment Facility (LAF). The Reverse Repo window will now be available between 7.00 pm and 7.30 pm instead of the existing timings of 4.45 pm ...
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RBI |
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CBDT adheres to Citizens Charter; directs disposal of TDS certificates application under Sec. 197 within 1 month
Posted Date : 17-Jan-2014 , 05:22:57 pm | Posted By: CASANSAAR
To
All the Chief Commissioners & Directors General of Income Tax,
Certificate of Lower deduction or non-deduction of tax at source undersection 197 of the Income-tax Act, 1961 - matter regarding.
As per the Citizens Charter the time line prescribed for a decision on application forno deduction of tax or deduction of tax at lower rate is one month. Instances havebeen brought to the notice of the Board, about considerable delay in issuing thelower/non deduction certificate under section...
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Income Tax |
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PAN Application fees revised upward
Posted Date : 17-Jan-2014 , 09:37:07 am | Posted By: CASANSAAR
NSDL vide itscircularNo.: NSDL/TIN/2014/004 dated 15th January 2014 has informed that the Income Tax Department (ITD) hasrevisedPANapplication feesas follows :-
From Rs. 96 to 105/- (For dispatch of PAN card in India)
From Rs. 962 to 971/- (For dispatch of PAN card outside India)
Both the above charges are inclusive of service tax....
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Income Tax |
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Regarding Implementation of decision of Hon
Posted Date : 16-Jan-2014 , 08:00:59 pm | Posted By: CASANSAAR
Circular No. 979/03/2014-CX.
F.No. 6/7/2012-CX-1
Government of India ,
Ministry of Finance , Dept of Revenue ,
Central Board of Excise and Customs ,
New Delhi
******
New Delhi, the 15thJan , 2014 .
Subject – Implementation of decision of Hon’ble Supreme Court in case of M/s Fiat India ltd – reg .
Attention is invited to the judgment of Hon’ble Supreme Court dated 29thAugust , 2012 in case of Fiat India Ltd [ 2012-TIOL-58-SC-CX or 2012 ( 283 ) E.L.T 161 ( S.C ...
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Excise |
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Distribution of Banknotes & Coins
Posted Date : 16-Jan-2014 , 07:44:37 pm | Posted By: CASANSAAR
RBI/2013-14/450DCM (CC) No.G-16/03.39.01/2013-14
January 13, 2014
The Chairman & Managing Directors/Chief Executive OfficersAll Scheduled Commercial Banks(Including RRBs, UCBs, State Cooperative Bank& District Central Cooperative Banks)
Dear Sir / Madam,
Distribution of Banknotes & Coins – Review of Incentives & Penalties
Please refer to Sl No.4 of ourCircular DCM (CC) No.G-10/03.39.01/2013-14 dated August 12, 2013, whereby we had extended the scheme of Incentive...
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RBI |
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Conversion of External Commercial Borrowing and Lumpsum Fee/Royalty into Equity
Posted Date : 16-Jan-2014 , 07:43:34 pm | Posted By: CASANSAAR
RBI/2013-2014/449A.P. (DIR Series) Circular No. 94
January 16, 2014
To
All Category - I Authorised Dealer banks
Madam/Sir,
Conversion of External Commercial Borrowing and Lumpsum Fee/Royalty into Equity
Attention of Authorised Dealer (AD) banks is invited toA.P. (DIR Series) Circular No. 15 dated October 1, 2004on the captioned subject.
2. In terms of the said circular, an Indian company can issue equity shares against External Commercial Borrowings (ECB) subject to conditions men...
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FEMA |
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CBDT exempts deduction of tax from service tax component if it\'s charged separately
Posted Date : 16-Jan-2014 , 07:42:11 pm | Posted By: CASANSAAR
The Board had issued aCircularNo.4/2008 dated 28-04-2008 wherein it was clarified that tax is to be deducted at source under section 194-I of the Income-tax Act, 1961 (hereafter referred to as 'the Act'), on the amount ofrent paid/payable without including theservice taxcomponent. Representations/letters has been received seeking clarification whether such principle can be extended to other provisions of the Act also.
2. Attention of CBDT has also been drawn to the judgement of theHon'ble ...
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Income Tax |
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Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure
Posted Date : 15-Jan-2014 , 07:37:28 pm | Posted By: CASANSAAR
RBI/2013-14/448DBOD.No.BP.BC. 85 /21.06.200/2013-14
January 15, 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
Please refer to the draft guidelines on the captioned subject issued on July 2, 2013 and paragraph 22 of second quarter review of the monetary policy announced on October 29, 2013 (extract enclosed)...
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FEMA |
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Clarification- Establishment of Liaison Office/ Branch Office/ Project Office in India by Foreign Entities- General Permission
Posted Date : 15-Jan-2014 , 07:36:43 pm | Posted By: CASANSAAR
RBI/2013-14/447A.P. (DIR Series) Circular No.93
January 15, 2014
To
All Authorised Dealer Category - I Banks
Madam / Dear Sir
Clarification- Establishment of Liaison Office/ Branch Office/ Project Office in India byForeign Entities- General Permission
Attention of Authorised Dealer Category –I (AD Category – I) banks is invited to Regulation 4 ofNotification No.FEMA.22/2000-RB dated May 3, 2000, viz., Foreign Exchange Management (Establishment in India of Branch or Office...
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FEMA |
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CBDT notifies
Posted Date : 14-Jan-2014 , 08:28:07 pm | Posted By: CASANSAAR
NOTIFICATION NO. 4/2014 [F.NO.196/80/2012-ITA.I]/SO 78(E),DATED 10-1-2014
In exercise of the powers conferred by clause (46) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Orissa State AIDS Control Society, a body constituted by the Government of Orissa in respect of the following specified income arising to that Society, namely:—
(a)
amount received in the form of grants-in-aid from the Cen...
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Income Tax |
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Risk Management and Inter Bank Dealings
Posted Date : 13-Jan-2014 , 08:10:21 pm | Posted By: CASANSAAR
RBI/2013-2014/446A.P. (DIR Series) Circular No. 92
January 13, 2014
All 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. 58 dated December 15, 20...
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FEMA |
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Regarding levy of the Education Cess and the Secondary and Higher Education Cess on other cesses
Posted Date : 11-Jan-2014 , 08:14:53 am | Posted By: CASANSAAR
Circular No.978/2/2014-CX
F.No.262/2/2008-CX.8
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi, the 7th January, 2014
To
(1)The Chief Commissioner of Central Excise (All)
(2)The Chief Commissioner of Central Excise & Customs (All)
(3)The Chief Commissioner of Customs (All)
(4)Directors General (All)
(5)Webmaster.cbec@icegate.gov.in
Madam/Sir,
Sub: Levy of the Education Cess and the Secondary and Higher Educ...
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Excise |
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Alteration in the name of \"Development Credit Bank Limited\" to \"DCB Bank Limited\" in the Second Schedule to the Reserve Bank of India Act, 1934
Posted Date : 11-Jan-2014 , 08:12:32 am | Posted By: CASANSAAR
RBI/2013-14/442Ref.DBOD.No.Ret.BC /83/12.06.097/2013-14
January 10, 2014
All Scheduled Commercial Banks
Dear Sir
Alteration in the name of ';Development Credit Bank Limited'; to ';DCB Bank Limited '; in the Second Schedule to the Reserve Bank of India Act, 1934
We advise that the name of ';Development Credit Bank Limited” has been changed to ';DCB Bank Limited'; in the Second Schedule to the Reserve Bank of India Act, 1934 w.e.f. October 24, 2013 vide Notification DBO...
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RBI |
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Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications
Posted Date : 10-Jan-2014 , 08:20:30 am | Posted By: CASANSAAR
RBI/2013-14/440A.P. (DIR Series) Circular No. 90
January 9, 2014
To,
All Category- I Authorised Dealer Banks and Authorised Banks
Madam / Sir,
Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications
Attention of Authorized Dealers is invited to Section 6 (4) of FEMA, 1999 in terms of which a person resident in India may hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency...
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FEMA |
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Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses
Posted Date : 10-Jan-2014 , 08:19:26 am | Posted By: CASANSAAR
RBI/2013-14/438A. P. (DIR Series) Circular No. 88
January 09, 2014
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Memorandum of Instructions for Opening and Maintenance of Rupee / ForeignCurrency Vostro Accounts of Non-resident Exchange Houses
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Part (B) ofAnnex-Ito the A.P. (DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 6, 2008 on the captioned subject...
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FEMA |
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Resident Bank account maintained by residents in India
Posted Date : 10-Jan-2014 , 08:18:45 am | Posted By: CASANSAAR
RBI/2013-2014/437A.P. (DIR Series) Circular No. 87
January 9, 2014
To
All Banks Authorised to deal in Foreign Exchange
Madam/Sir,
Resident Bank account maintained by residents in India –Joint holder – liberalization
Attention of Authorised Dealer (AD) banks is invited toA.P.(DIR Series) Circular No.12 dated September 15, 2011in terms of which individuals resident in India were permitted to include non-resident close relative(s) (relatives as defined in Section 6 of the Companie...
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FEMA |
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Foreign Direct Investment- Pricing Guidelines for FDI instruments with optionality clauses
Posted Date : 10-Jan-2014 , 08:18:00 am | Posted By: CASANSAAR
RBI/2013-2014/436A.P. (DIR Series) Circular No. 86
January 9, 2014
All Category - I Authorised Dealer banks
Madam/Sir,
Foreign Direct Investment- Pricing Guidelines for FDI instruments with optionality clauses
Attention of Authorised Dealers is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA 20 / 2000 -RB dated May 3, 2000as amended from time to time. In terms of the ex...
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FEMA |
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DVAT- Regarding Sting operation by news channel \"Aaj Tak\".
Posted Date : 09-Jan-2014 , 06:01:02 pm | Posted By: CASANSAAR
A sting operation was telecast on 6/01/2014 by neV\lschannel "Aaj Tak",wherein serious allegations about corrupt practices in the Department havebeen alleged by an agent.
In this regard, it is reiterated that giving and accepting of illegalgratification is a serious offence. It has always been the endeavour of theGovernment to stop and deal with such cases strictly.
All the officers/officials are hereby directed to maintain highest standardsof integrity and refrain from indulging in any...
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VAT |
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Denotification of Bank of India for collections of VAT/CST dues from the dealers referred above with effect from 15th January, 2014
Posted Date : 08-Jan-2014 , 07:12:47 pm | Posted By: CASANSAAR
Bank of India, which was earlier notified as Appropriate Government Treasury for thepurpose of depositing VAT/CST dues in relation to a dealer who is, or liable to be, registered underDVAT Act, 2004, is hereby denotified for collections of VAT/CST dues from the dealers referred abovewith effect from 15th January, 2014...
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Category :
VAT |
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Guidelines for Classification and Valuation of Investments
Posted Date : 08-Jan-2014 , 07:07:35 pm | Posted By: CASANSAAR
RBI/2013-14/434RPCD.CO.RRB.BC.No. 74/03.05.33/2013-14
January 07, 2014
The ChairmenAll Regional Rural Banks
Dear Sir/Madam,
Guidelines for Classification and Valuation of Investments
Please refer to ourcircular RPCD.RRB.BC.No.59/03.05.34/2010-11 dated April 11, 2011, in terms of which RRBs were exempted from ‘Mark to Market’ (MTM) norms in respect of their entire investment in SLR securities, upto the financial year 2012-13. It has now been decided to withdraw the exemption from...
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RBI |
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Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/CCBs)
Posted Date : 08-Jan-2014 , 07:06:54 pm | Posted By: CASANSAAR
RBI/2013-14/433RPCD.RCB.BC.73/07.51.012/2013-14
January 7, 2014
The Chairman / Managing DirectorAll State and Central Cooperative Banks
Dear Sir / Madam,
Application of Minimum Capital Adequacy Norms toState and Central Cooperative Banks (StCBs/CCBs)
Please refer to thecircular RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007wherein the State and Central Cooperative Banks had been advised to disclose the level of Capital to Risk weighted Assets Ratio (CRAR) as on March 31, 2008 and ...
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RBI |
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CBDT deploys officer to disseminate info for facilitating implementation of Food Security Act
Posted Date : 07-Jan-2014 , 05:44:26 pm | Posted By: CASANSAAR
Where as the Central Government is of the opinion that it is necessary to do so inic interestf'and, therefore, in pursuance of sub-clause (ii) of clause (a) of sub-1) of Section 138 of the Income-tax Act, 1961, the Central Government herebythe officer of the rank of Secretary in various States(s) /Union territories inlndi o is respo4sible for implementation of the National Food Security Act, 2013...
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Income Tax |
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Banks
Posted Date : 07-Jan-2014 , 05:15:08 pm | Posted By: CASANSAAR
RBI/2013-14/430DBOD.No.BP.BC.82/21.06.217/2013-14
January 7, 2014
The Chairman and Managing Director/Chief Executive Officer ofAll Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir / Madam,
Banks’ Exposure to Central Counterparties (CCPs) - Interim Arrangements
In terms ofpara 2.1.1.1of the Master Circular on Exposure Norms dated July 1, 2013, the exposure limit applicable to a single counterparty of a bank is 15 per cent of its capital funds.
2. The recen...
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RBI |
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Banks
Posted Date : 07-Jan-2014 , 05:13:07 pm | Posted By: CASANSAAR
RBI/2013-14/430DBOD.No.BP.BC.82/21.06.217/2013-14
January 7, 2014
The Chairman and Managing Director/Chief Executive Officer ofAll Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir / Madam,
Banks’ Exposure to Central Counterparties (CCPs) - Interim Arrangements
In terms ofpara 2.1.1.1of the Master Circular on Exposure Norms dated July 1, 2013, the exposure limit applicable to a single counterparty of a bank is 15 per cent of its capital funds.
2. The recent ...
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RBI |
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External Commercial Borrowings (ECB) Policy
Posted Date : 06-Jan-2014 , 08:29:52 pm | Posted By: CASANSAAR
RBI/2013-2014/429A.P. (DIR Series) Circular No. 85
January 6, 2014
To
All Category - I Authorised Dealer banks
Madam/Sir,
External Commercial Borrowings (ECB) Policy – Liberalisation of definition of Infrastructure Sector
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to theNotification No. FEMA.281/2013-RB dated July 19, 2013published in the Gazette of India vide G.S.R. No. 627 (E) dated September 12, 2013 and to theA.P. (DIR Series) C...
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Category :
FEMA |
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Issue of Non convertible/ redeemable bonus preference shares or debentures - Clarifications
Posted Date : 06-Jan-2014 , 08:28:51 pm | Posted By: CASANSAAR
RBI/2013-2014/428A.P. (DIR Series) Circular No.84
January 6 , 2014
To
All Category - I Authorised Dealer banks
Madam/Sir,
Issue of Non convertible/ redeemable bonus preference shares or debentures - Clarifications
Attention of Authorised Dealers Category- I (AD Category-I) banks is invited to Regulation (2ii) and Regulation 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No.FEMA.20/200...
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FEMA |
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Overseas Direct Investments
Posted Date : 03-Jan-2014 , 08:58:47 pm | Posted By: CASANSAAR
RBI/2013-14/427A.P. (DIR Series) Circular No.83
January 3, 2014
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Overseas Direct Investments – Rollover of Guarantees
Attention of the Authorised Dealer (AD - Category I) banks is invited the provisions ofNotification No. FEMA.120/RB-2004 dated July 7, 2004[Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004] (the Notification), as amended from time to time.
2. It has be...
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FEMA |
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File Validation Utility version 4.1 and 2.13 7 for e-TDS/TCS Statements wef 04.01.2014
Posted Date : 03-Jan-2014 , 10:32:23 am | Posted By: CASANSAAR
CircularNo: NSDL/TIN/2014/001 January 1, 2014
Subject: Release of File Validation Utility (FVU) version 4.1 and2.13 7 for e-TDS/TCSStatements.
All TIN FacilitationCenters(TIN-FCs) are hereby informed that the following new versions of File Validation Utility (FVU) are being released.
1. FVU version 4.1 – ForStatementspertaining to FY 2010-11 onwards.
2. FVU version 2.137 – ForStatementspertaining to FY 2007-08 to FY 2009-10.
ThesetwoFVU versions are applicable with eff...
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Income Tax |
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Regarding Handling of Cargo in Customs Area Regulations, (HCCAR) 2009
Posted Date : 01-Jan-2014 , 08:42:04 pm | Posted By: CASANSAAR
Circular No. 45 /2013 - Customs
F.NO. 450/160/2013-CusIV
Government ofIndia
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
****
New Delhi, dated the 31stDecember, 2013
All Chief Commissioners of Customs
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs
All Commissioners of Customs and Central Excise
Sir / Madam,
Attention is invited to Regulation 6(2) of the “Handling of Cargo in Customs Area Regulations...
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Category :
Custom |
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Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Posted Date : 01-Jan-2014 , 08:31:45 pm | Posted By: CASANSAAR
RBI/2013-14/426DNBS(PD).CC. No 364/03.10.42/2013-14
January 1, 2014
All Non Banking Financial Companies excludingResiduary Non Banking Companies
Dear Sir/Madam,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer toDNBS (PD).CC.No.352/03.10.42/2012-13 dated July 23, 2013on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on October 18, 2013 on the captio...
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RBI |
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