Exchange-Traded Interest Rate Futures
Posted Date : 05-Dec-2013 , 06:38:53 pm | Posted By: CASANSAAR
RBI/2013-14/402IDMD.PCD. 08/14.03.01/2013-14
December 5, 2013
To
All market participants
Dear Sir/Madam
Exchange-Traded Interest Rate Futures
As announced in theSecond Quarter Review of Monetary Policy 2013-14, it has been decided to introduce cash settled Interest Rate Futures (IRF) on 10-year Government of India security.
2. The Reserve Bank of India has accordingly issued a Notification IDMD.PCD.07 /ED (RG) - 2013 dated December 5, 2013 introducing cash settled IRF on 10-year Governmen...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 825
|
 |
Timely Issue of TDS Certificate to Customers
Posted Date : 05-Dec-2013 , 04:44:48 pm | Posted By: CASANSAAR
RBI/2013-14/401UBD.CO.BPD.(PCB).Cir.No. 41/12.05.001/2013-14
December 5, 2013
To,
The Chief Executive OfficerAll Urban Co-operative Banks
Dear Sir / Madam,
Timely Issue of TDS Certificate to Customers
It has been brought to our notice that some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns in time.
2. With a view to protecting the interests of depositors and for rendering better customer serv...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 975
|
|
Procedure for Voluntary Disclosure of Tax Deficiency u/s 87(6) of the DVAT Act 2004.
Posted Date : 05-Dec-2013 , 04:43:06 pm | Posted By: CASANSAAR
CIRCULAR NO.28 Dated: 03-12-2013,Procedure for Voluntary Disclosure of Tax Deficiency u/s 87(6) of the DVAT Act2004....
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 896
|
|
Union Budget - 2013-14 Interest Subvention Scheme
Posted Date : 04-Dec-2013 , 05:45:45 pm | Posted By: CASANSAAR
RBI/2013-14/398RPCD.No.FSD.BC.71/05.04.02/2013-14
December 4, 2013
To,The Chairman / Managing DirectorAll Public & Private Sector Scheduled Commercial Banks
Dear Sir
Union Budget - 2013-14Interest Subvention Scheme
As directed by the Government of India and in pursuance of the budget announcement made by the Finance Minister relating to the Interest Subvention Scheme 2013-14, Interest subvention of 2 % p.a. will be made available to Public Sector Banks (PSBs) and Private Sector Schedule...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 931
|
|
External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs)
Posted Date : 03-Dec-2013 , 07:29:59 pm | Posted By: CASANSAAR
RBI/2013-14/397A.P. (DIR Series) Circular No. 78
December 3, 2013
To
All Authorised Dealer Category I Banks
Madam / Sir
External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs)
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to theA.P. (DIR Series) Circular No. 5 dated August 1, 2005as amended from time to time relating to the External Commercial Borrowings (ECB).
2. In order to ...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 934
|
|
Delegation of Powers under the DVAT Act , 2004
Posted Date : 03-Dec-2013 , 07:47:15 am | Posted By: CASANSAAR
In continuation of order dated 12.11.2013 on the subject, I, Prashant Goyal, Commissionerof Value Added Tax, Department of Trade & Taxes, Government of NCTof Delhi, in exercise of the powersconferred by section 68 of the Delhi Value Added Tax (DVAT) Act, 2004 (Delhi Act 3 of 2005) read with rule 48of the Delhi Value Added Tax Rules, 2005 do hereby delegate my powers specified in column Nqs. 3 underSection mentioned in column no. 2 to the Officers specified in column 4 of the table appended b...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 950
|
|
Guidelines on Stress Testing
Posted Date : 03-Dec-2013 , 07:34:20 am | Posted By: CASANSAAR
RBI/2013-14/390DBOD.BP.BC.No.75/21.04.103/2013-14
December 2, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Guidelines on Stress Testing
Please refer to the guidelines on stress testing issued videcircular DBOD.No.BP.BC. 101/21.04.103/2006-07 dated June 26, 2007. Banks were required to operationalise their formal stress testing framework in accordance with these guidelines from March 31, 2008. It was expected that the stress testing framework being set up would help banks in...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 959
|
|
Revised General Credit Card (GCC) Scheme
Posted Date : 03-Dec-2013 , 07:33:37 am | Posted By: CASANSAAR
RBI/2013-14/389RPCD.MSME & NFS.BC.No.61/06.02.31/2013-14
December 2, 2013
The Chairman/Managing Director/ Chief Executive OfficerAll Scheduled Commercial Banks(Including Regional Rural Banks)
Dear Sir / Madam
Revised General Credit Card (GCC) Scheme
Please refer to ourcircular RPCD.CO.No.RRB.BC.59/03.05.33(F)/2005-06 dated December 27, 2005andcircular no. RPCD.CO.Plan.BC.No.66/04.09.01/2007-08 dated May 06, 2008on the General Credit Card (GCC) Scheme.
2. During Financial Inclusion Plan...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 953
|
|
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Posted Date : 01-Dec-2013 , 07:56:30 pm | Posted By: CASANSAAR
RBI/2013-14/385DBOD.No.Dir.BC. 69/13.03.00/2013-14
November 29, 2013
To
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir / Madam
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Please refer to paragraph 23 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013 (extract enclosed) on periodicity of payment of interest on savings and term deposits.
2. In this connection, a reference is also invited to paragraph 2 (ii) of our circular DB...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 985
|
|
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Posted Date : 01-Dec-2013 , 07:55:48 pm | Posted By: CASANSAAR
RBI/2013-14/387DBOD. No. Dir. BC.71/13.03.00/ 2013-14
November 29, 2013
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/ Madam
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Please refer to ourcircular DBOD. Dir. BC. 40/13.03.00/2013-14 dated August 14, 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 exemption provided on such d...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 819
|
|
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Posted Date : 29-Nov-2013 , 04:57:16 pm | Posted By: CASANSAAR
RBI/2013-14/385DBOD.No.Dir.BC. 69/13.03.00/2013-14
November 29, 2013
To
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir / Madam
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Please refer to paragraph 23 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013 (extract enclosed) on periodicity of payment of interest on savings and term deposits.
2. In this connection, a reference is also invited to paragraph 2 (ii) of our circular DB...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 921
|
|
CBDT seeks info on assessee opting for Safe Harbour from returns filed till November 30, 2013
Posted Date : 29-Nov-2013 , 04:56:01 pm | Posted By: CASANSAAR
The Safe Harbour rules have been made publicvidenotification dated 18th September, 2013. In order to analyze the number of taxpayers opting for the Safe Harbour, you are requested to provide the following information from the return of income filed till 30th November, 2013:
♦
Name, address, PAN and Assessing Officer of the taxpayer filing Form 3CEFA
♦
Details of eligible international transaction for which benefit under Safe Harbour Rules has been opted
2.You...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 931
|
|
Participation of NBFCs in Insurance sector
Posted Date : 28-Nov-2013 , 08:07:31 pm | Posted By: CASANSAAR
RBI/2013-14/383DNBS.PD.CC.No.361/03.02.002/2013-14
November 28, 2013
To,
All NBFCs
Dear Sirs,
Participation of NBFCs in Insurance sector
Please refer to the circularDNBS.(PD).CC.No.13/02.01/99-2000 dated June 30, 2000which contains the Guidelines for entry of NBFCs into Insurance Business issued on June 09, 2000, and subsequent modification carried out vide CircularDNBS.(PD).CCX.No.35/10.24/2003-04 dated February 10, 2004andCC No. 221/03.02.002/2010-2011 dated May 27, 2011.As per the extan...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 874
|
|
Imposition of Minimum Capital Adequacy Measure of 9% for RRBs
Posted Date : 27-Nov-2013 , 07:09:50 pm | Posted By: CASANSAAR
RBI/2013-14/382RPCD.CO.RRB.BC.No.60/03.05.33/2013-14
November 26, 2013
The ChairmanAll Regional Rural Banks
Dear Sir/Madam,
Imposition of Minimum Capital Adequacy Measure of 9% for RRBs
The risk weighted assets ratio system as the basis of assessment of Capital Adequacy which takes into account the element of risk in the various types of assets in the Balance Sheet as well as off Balance-sheet exposures was made applicable to banks in India with a view to strengthening their capital base.
...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 918
|
|
Regarding Service Tax Voluntary Compliance Encouragement Scheme
Posted Date : 27-Nov-2013 , 08:02:48 am | Posted By: CASANSAAR
Circular No.174/9/2013 – ST
F.No.B1/19/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
(Tax Research Unit)
North Block
New Delhi, 25thNovember, 2013
To,
Chief Commissioners of Central Excise and Customs (All),
Director General (Service Tax), Director General (Central Excise Intelligence),Director General (Audit),
Commissioners of Service Tax (All)
Commissioners of Central Excise (All),
...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1016
|
|
Charges Levied by Banks for Sending SMS Alerts
Posted Date : 26-Nov-2013 , 09:26:18 pm | Posted By: CASANSAAR
RBI/2013-14/381DBOD. No. Dir. BC. 67/13.10.00/2013-14
November 26, 2013
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/ Madam
Charges Levied by Banks for Sending SMS Alerts
Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on ‘Customer Service- Charges Levied by Banks for Sending SMS Alerts’.
2. In this connection, a reference is also invited to ourcircular DBOD. No. Dir. BC. ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1265
|
|
Security and Risk Mitigation Measures for Card Present Transactions
Posted Date : 26-Nov-2013 , 06:02:13 pm | Posted By: CASANSAAR
RBI/2013 -14/380DPSS (CO) PD No.1164/ 02.14.003/2013-14
November 26, 2013
The Chairman and Managing Director / Chief Executive OfficersAll Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks
Madam / Dear Sir,
Security and Risk Mitigation Measures for Card Present Transactions
A reference is invited to ourcircular dated September 22, 2011 on security issues and risk mitigation me...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 794
|
|
DVAT - DISPOSAL OF REFUNDS
Posted Date : 25-Nov-2013 , 07:31:38 pm | Posted By: CASANSAAR
All dealers whose refund claims are pending and their returns for the year2009-10 onwards involve central sale/sock transfer against statutory forms arehereby directed to file information online for the pending statutory forms/declarationin Block R 10 of CST return Form 1 by 30thNovember, 2013 for the year 2009-10and by 31stDecember, 2013 for the year 2010-11, 2011-12 and 2012-13 in order tohelp process the refund claims expeditiously. Receipt of the information so filed canbe obtained from the ...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 946
|
|
Financing of Infrastructure - Definition of \'Infrastructure Lending\'
Posted Date : 25-Nov-2013 , 07:28:37 pm | Posted By: CASANSAAR
RBI/2013-14/378DBOD.BP.BC.No.66/08.12.014/2013-14
November 25, 2013
All Scheduled Commercial Banks(excluding RRBs) andAll India Term-Lending and Refinancing Institutions(EXIM Bank, NABARD, NHB and SIDBI)
Dear Sir,
Financing of Infrastructure - Definition of 'Infrastructure Lending'
Please refer to ourcircular DBOD.BP.BC.No.58/08.12.014/2012-13 dated November 20, 2012on ‘Definition of Infrastructure Lending’ harmonising the RBI definition of Infrastructure Lending with that of ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 885
|
|
MVAT : Correction of mistakes made by the dealers or miscellaneous refunds of excess payment of taxes
Posted Date : 25-Nov-2013 , 09:21:17 am | Posted By: CASANSAAR
TRADE CIRCULAR
No. VAT/Refund-Return/ACST (VAT-2), Mumbai Dated: -21/11/2013Trade Circular No. 7T of 2013
Sub.:- Correction of mistakes made by the dealers or miscellaneous refunds of excess paymentof taxes…
Ref: – Trade Circular No. 17T Dated 25.11.2011.
The payment of tax under MVAT Act, 2002 and CST Act, 1956 by way of e-payment was made mandatory from March, 2011. It has been reported to this office by some of the dealers and the Banks that they made certain mistakes while...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 992
|
|
ST Notification - Time limit prescribed for filing Form A-3 by SEZ Unit / SEZ Developer
Posted Date : 24-Nov-2013 , 05:58:21 pm | Posted By: CASANSAAR
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 15/ 2013-Service Tax
New Delhi, the 21stNovember, 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) (hereinafter referred to as the said Act) read with sub-section 3 of section 95 of Finance (No.2), Act, 2004 (23 of 2004) and sub-section 3 of section 140 of the Finance Act, 2007 (22 of 2007),the Central Govern...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 947
|
|
Overseas Foreign Currency Borrowings by Authorised Dealer Banks
Posted Date : 24-Nov-2013 , 09:03:11 am | Posted By: CASANSAAR
RBI/2013-14/377A.P. (DIR Series) Circular No. 77
November 22, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir
Overseas Foreign Currency Borrowings by Authorised Dealer Banks
Attention of AD category I banks is invited toAP (DIR Series) circulars no. 40 dated September 10, 2013read withAP (DIR Series) Circular no. 61 dated October 10, 2013in terms of which they were permitted to borrow from international/multilateral financial institutions up to 100 percent of their Tier-I capi...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 939
|
|
Report on Trend and Progress of Banking in India
Posted Date : 22-Nov-2013 , 08:30:03 am | Posted By: CASANSAAR
TheReserve Bank of Indiatoday released the statutoryReporton Trend andProgressof Banking in India 2012-13. ThisReportpresents theperformance andsalient policy measures relating to the banking sector during 2012-13. TheReportalso provides an analysis of the co-operative banks and non-banking financial institutions.
The key messages of theReportare set out below:
Perspectives on theIndian BankingSector
The weakening domestic macroeconomic conditions combined with the continuing subdued glob...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 944
|
|
DVAT Filing of online return for 2nd quarter of 2013-14
Posted Date : 20-Nov-2013 , 10:19:51 pm | Posted By: CASANSAAR
In partial modification to this department’s Circulars No.18, 24 & 25 of 2013-14 onthe subject cited above and in exercise of the powers conferred under Rule 49A of the DelhiValue Added Tax Rules,2005, I, Prashant Goyal, Commissioner, Value Added Tax, dohereby extend the last date of online filing of second quarter return for the year 2013-14, inForm DVAT-16 ,DVAT-17 and DVAT-48 along with required annexures, and submission ofhard copy alongwith required enclosures as per schedule give...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 1075
|
|
Date of filling of PVAT-20 is extended from 20.11.2013 to 25.11.2013.
Posted Date : 20-Nov-2013 , 08:19:53 pm | Posted By: CASANSAAR
On the demand by the Business community in general and Advocates inparticulars, the date of filling of VAT-20 is extended from 20.11.2013 to 25.11.2013....
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 893
|
|
Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme 2008
Posted Date : 20-Nov-2013 , 07:28:13 pm | Posted By: CASANSAAR
RBI/2013-14/376UBD.BPD. (PCB) CIR No.39 /13.05.006/2013-14
November 20, 2013
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme 2008
Please refer to ourCircular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013, in terms of which Urban Co-operative Banks (UCBs) were advised to conduct complete verification of list of beneficiaries under ADWDRS, 2008 and take corrective ste...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 980
|
|
CBDT directs I-T Officers to adhere to Circular 1/2013 issued in relation to deductions under Secs. 10A, 10AA and 10B
Posted Date : 20-Nov-2013 , 04:49:22 pm | Posted By: CASANSAAR
A clarificatoryCircular No. 01/2013, dated 17-1-2013(hereinafter referred to as 'Circular') was issued by CBDT to address various contentious issues leading to tax disputes in cases of entities engaged in export of computer software which are availing tax-benefits under sections 10A, 10AA and 10B of the Income-tax Act, 1961.
2.Instances have been reported where the Assessing Officers are not following the clarifications so issued and are taking a divergent view even in cases where the clari...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1122
|
|
Clarification in respect of Circular No.5/2010
Posted Date : 20-Nov-2013 , 10:27:21 am | Posted By: CASANSAAR
Section 144C, providing for reference to Dispute Resolution Panel (DRP), was inserted in the Income-tax Act, 1961 by Finance (No.2) Act, 2009. Sub-section (1) of section 144C reads as under:
"The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment (hereinafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 943
|
|
Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU)/Letter of Comfort (LoC) by ADs
Posted Date : 20-Nov-2013 , 10:23:03 am | Posted By: CASANSAAR
RBI/2013-14/374A.P. (DIR Series) Circular No. 75
November 19, 2013
ToAll Category - I Authorised Dealer Banks
Madam / Sir
Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU) /Letter of Comfort (LoC) by ADs
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 87 dated April 17, 2004andA.P. (DIR Series) Circular No. 24 November 1, 2004relating to the Trade Credits for imports...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 939
|
|
MCA clarification on applicability of Section 372A of of Companies Act, 1956
Posted Date : 20-Nov-2013 , 10:14:35 am | Posted By: CASANSAAR
Consequent tonotificationof Sec 185 of Companies Act 2013 (dealing withloans todirectors) and which is corresponding to Section 295 of the Companies Act, 1956, MCA has received several representations. Section 186 of the Companies Act, 2013 is yet to be notified.MCA has now clarified that Sec 372A of the Companies Act 1956 (dealing with inter-corporateloans) continues to remain in force till Sec 186 of Companies Act 2013 is notified. Text of theNotificationis as follows :-
GeneralCircular18/201...
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 1296
|
|
|
|
