Amended I-T Rules for furnishing of info by Venture Cap Co. or Venture Cap Funds; Form 64 revised
Posted Date : 07-Aug-2013 , 10:42:10 pm | Posted By: Vinay Sharma
INCOME-TAX (THIRTEENTH AMENDMENT) RULES, 2013 - SUBSTITUTION OF RULE 12C AND FORM NO. 64
NOTIFICATION NO. 59/2013 [F.NO.142/17/2013-TPL]/SO 2364(E),DATED 5-8-2013
In exercise of the powers conferred by sub-section (2) of section 115U read with 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 (13th Amendment) Rules, 2...
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CBDT amends I-T Rules for furnishing of info of sum paid to NRs; revised Forms 15CA and 15CB notified
Posted Date : 07-Aug-2013 , 10:41:32 pm | Posted By: Vinay Sharma
INCOME-TAX (TWELFTH AMENDMENT) RULES, 2013 - SUBSTITUTION OF RULE 37BB AND FORM NOS. 15CA AND 15CB
NOTIFICATION NO. 58/2013 [F.NO.149/119/2012-SO(TPL)]/SO 2363(E),DATED 5-8-2013
In exercise of the powers conferred by sub-section (6) of section 195 read with 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 (12th Amend...
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Income Tax |
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Non-Resident Deposits - Comprehensive Single Return (NRD-CSR): Submission under XBRL
Posted Date : 07-Aug-2013 , 09:50:13 pm | Posted By: CASANSAAR
RBI/2013-14/173A.P. (DIR Series) Circular No. 19
August 7, 2013
To,
All Banks Authorised to deal in Foreign Exchange
Madam / Sir,
Non-Resident Deposits - Comprehensive Single Return (NRD-CSR):Submission under XBRL
Attention of banks maintaining Non-Resident Deposits (NRD) Accounts is invited toA.P. (DIR Series) Circular No.55 dated May 9, 2007on NRD-CSR software package being used by the banks for submission of detailed monthly data on non-resident deposits to the Reserve Bank....
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FEMA |
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Credit Information Companies (Regulation) Act, 2005
Posted Date : 07-Aug-2013 , 09:48:31 pm | Posted By: CASANSAAR
RBI/2013-14/174RPCD.CO.RCB.BC.No.19/07.51.010/2013-14
August 07, 2013
The ChairmanAll State and Central Co-operative Banks (StCBs and CCBs)
Dear Sir,
Credit Information Companies (Regulation) Act, 2005 – Compliance
Please refer to ourcircular RPCD.CO.RF.BC.No.44/07.40.06/2009-10 dated December 01, 2009advising StCBs and CCBs that in terms of Section 15(1) of Credit Information Companies (Regulation) Act, 2005, every credit institution has to become a member of at least one Cre...
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RBI |
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Regarding exemption of Excise duty leviable on the specified goods affixed with brand name or trade name of another person
Posted Date : 07-Aug-2013 , 04:51:52 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN GAZETTE OF INDIA, EXTRAORDINARY,
PART –II, SECTION3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
Notification No. 10/2013 - Central Excise (N.T.)
New Delhi, the 02 August, 2013
G.S.R. (E) –Whereas the Central Government is satisfied that a practice was generally prevalent regarding levy of duty of excise (including non-levy thereof) undersection 3of theCentral Excise Act, 1944 (1 of 1944)(hereinafter referred to as the sai...
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Excise |
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Amendment in Rule 21AB and Insertion of Form 10F - Income-tax (11th Amendment) Rules, 2013
Posted Date : 07-Aug-2013 , 04:50:24 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II,
SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NOTIFICATION NO. 57/2013
DATED 1-8-2013
S.O. 2331(E) -In exercise of the powers conferred bysection 90andsection 90Aread withsection 295of theIncome-tax Act, 1961 (43 of 1961),the Central Board of Direct Taxes hereby makes the following rules further to amend theIncome-tax Rules, 1962, namely:—
1.(...
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CBDT lays down criteria for manual selection of case for scrutiny assessment for FY 2013-14
Posted Date : 07-Aug-2013 , 06:48:29 am | Posted By: CASANSAAR
In supersession of earlier Instructions on the above subject, the Board hereby lays down the following procedure and criteria for manual section of returns/cases for scrutiny during the financial year 2013-2014:
2.The targets for completion of scrutiny assessments and strategy of framing quality assessments as contained in Central Action Plan document for Financial Year 2013-2014 has to be complied with. It is being reiterated that all scrutiny assessments including the cases selected under m...
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Income Tax |
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Regarding clarification regarding contract under PIR, 1986
Posted Date : 06-Aug-2013 , 10:35:09 pm | Posted By: CASANSAAR
Circular No. 31/2013-Cus.
F. No. 528/43/2013-STO (TU)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
****
New Delhi, the 6thAugust, 2013
All Chief Commissioner of Customs
All Chief Commissioner of Customs and Central Excise
All Commissioners of Customs
All Commissioners of Customs and Central Excise
Sir/Madam,
References have been received in the Board to clarify whether or not apurchase ordercan be considered as a contract in t...
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Custom |
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FINMIN allows premature encashment of saving bonds to senior citizens with a cost
Posted Date : 03-Aug-2013 , 07:04:19 pm | Posted By: Vinay Sharma
8 PER CENT SAVINGS (TAXABLE) BONDS, 2003 - AMENDMENT IN PARAGRAPH 16 OF NOTIFICATION NO. F.4 (10)-W&M/2003, DATED 21-3-2013
NOTIFICATION NO. F.4(10)-W&M.2003,DATED 29-7-2013
The Government of India hereby notifies that Paragraph 16 (Repayment) of the aforesaid Notification shall be amended as follows :
16.Repayment:
(i)
The bonds shall be repayable on the expiration of 6 (six) years from the date of issue.
(ii)
Provision for premature encashment
Premature enca...
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Corporate Laws |
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IRDA defers deadline for implementation of standard proposal form for life insurance
Posted Date : 03-Aug-2013 , 07:03:56 pm | Posted By: Vinay Sharma
COMPLIANCE DATE FOR IMPLEMENTATION OF STANDARD PROPOSAL FORM FOR LIFE INSURANCE
CIRCULAR NO. IRDA/LIFE/APEG/CIR/149/08/2013,DATED 2-8-2013
Taking into account various representations received from Life Insurance Industry, the competent Authority, under the provisions of Regulation 12 of IRDA (Standard Proposal Form for Life Insurance ) Regulations, 2013 has deferred the implementation of obligations under sections 5, 6, 7, 8, 9 & 10 of IRDA (Standard Proposal Form for Life Insurance) Regul...
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Corporate Laws |
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Extend the date for filing of stock statement in Form Stock-1 online for the stock available on 31st March, 2013
Posted Date : 03-Aug-2013 , 08:36:46 am | Posted By: CASANSAAR
In partial modification of Notification No.F.7(433)/Policy-II/VAT/2012/Part File/353-364 dated 28/06/2013, I, Prashant Goyal, Commissioner, Value Added Tax, in exercise of thepowers conferred on me under sub-section(1) read with sub-section (3) of section 70 of DelhiValue Added Tax Act, 2004, do hereby extend the date for filing of stock statement in FormStock-1 online for the stock available on 31st March, 2013 to the following date:...
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VAT |
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Regarding classification of products -
Posted Date : 03-Aug-2013 , 08:34:53 am | Posted By: CASANSAAR
Circular No.28 / 2013
F.No. .No.528/52/2013 – STO (TU)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Tariff Unit
***
229A, North Block, New Delhi,
1stAugust, 2013
To
All Chief Commissioners of Customs/Customs (Prev.),
All Commissioners of Customs/Customs (Prev.),
All Chief Commissioners Customs & Central Excise,
All Commissioners of Customs & Central Excise,
All Directors General under CBEC.
Sir / Madam,
S...
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Custom |
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Financing of Infrastructure - Definition of \'Infrastructure Lending\'
Posted Date : 03-Aug-2013 , 08:33:31 am | Posted By: CASANSAAR
RBI/2013-14/172DNBS.PD.CC.No. 354/03.10.001/2013-14
August 02, 2013
All NBFCs
Dear Sir / Madam,
Financing of Infrastructure - Definition of 'Infrastructure Lending'
Government of India, vide its Gazette Notifications dated April 5, 2013 and May 9, 2013, has updated the Harmonised Master List of Infrastructure sub-sectors and added the following new sub-sectors to the Notification dated March 27, 2012:
Capital Dredging, under the sub-sector ‘Ports’.
Slurry Pipelines
Teleco...
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RBI |
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Duration for utilization of Governmental debts limits reduced from 45 days to 30 days
Posted Date : 02-Aug-2013 , 01:00:06 pm | Posted By: Vinay Sharma
UTILISATION PERIOD FOR GOVERNMENT DEBT LIMITS
CIRCULAR NO. IMD/FIIC/11/2013,DATED 31-7-2013
1.SEBI vide circularIMD/FIIC/22/2012 dated November 07, 2012had reduced the utilisation period for Government debt limits allocated through auction process to 30 days from 45 days.
2.Currently, the unutilsed debt limits as on the 18th of every month are auctioned on the 20th of the month (the next working day in case 20th is a holiday). Thus, an FII/QFI purchasing debt limits in the auction on the 20th...
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SEBI |
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DVAT - Constitution of Delhi Trade Board for National Capital Territory of Delhi.
Posted Date : 01-Aug-2013 , 08:33:30 pm | Posted By: CASANSAAR
In continuation of the earlier order No. F.7/T&T/PB/SCTT-(PR/Coordn.)/ dated 24th July, 2013 issued in the said connection, theGovernment of NCT of Delhi has been pleased to add the names offollowing Trade Bodies / Associations to make the Delhi Trade Board morerepresentative:...
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VAT |
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ATM transactions
Posted Date : 01-Aug-2013 , 08:29:33 pm | Posted By: CASANSAAR
RBI/2013-14/171DPSS. CO.PD.No. 289/02.10.002/2013-2014
August 1, 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
Madam / Dear Sir,
ATM transactions – Enhancement of customer service
The Reserve Bank of India has, over a period of time, issued a number of instructions to banks regarding enhancement of customer service as well as handl...
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RBI |
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Risk Management and Inter-bank Dealings
Posted Date : 01-Aug-2013 , 08:28:55 pm | Posted By: CASANSAAR
RBI/2013-14/169A.P. (DIR Series) Circular No. 18
August 1, 2013
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter-bank Dealings
Attention ofAuthorised Dealers Category – I (AD Category I) banks is invited toAP (DIR) Circular No. 121 dated June 26, 2013wherein it was clarified that if an FII wishes to hedge the Rupee exposure of one of its sub-account holders, it should be done on the basis of a mandate from the sub-account holder for the purpose and ...
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FEMA |
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Special counters for filing returns of Income from 31st July,2013 to 5th August,2013
Posted Date : 01-Aug-2013 , 12:40:11 pm | Posted By: CASANSAAR
F.No. 225/117/2013/ITA.II
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes
North-Block, ITA.IIDivision
New Delhi, the 31stof July, 2013
To
All CCIT (CCA)
Sir/Madam,
Subject: Opening of special counters forfiling returnsof Income-regd:-
In view of extension ofdue datefor filing of return of Income from 31stJuly, 2013 to 5thAugust, 2013 vide CBDT’s order under section 119 of IT Act inF.No 225/117/2013/ITA.II dated 31.07.2013, I am directe...
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Income Tax |
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Regarding offline payment of tax, interest and penalty or any other amount due under the Delhi Value Added Tax Act, 2004.
Posted Date : 31-Jul-2013 , 08:33:18 pm | Posted By: CASANSAAR
In partial notification of Notification No No.F.7( 400)/Policy/VAT/2011/383-396 dated 05.07,2013 regarding procedure of offline payment of tax, interest andpenalty or any other amount due underthe Delhi Value Added Tax Act, 2004, and in exercise of the powers conferred under sub rule (2) of Rule 31 of Delhi Value AddedTax Rules, 2005, read with clause, (b) of sub rule (4) of rule 2 of the said Rules and Section 36 of Delhi Value Added Tax Act; 2004 I, Prashant Goyal, Commissioner,Value Added TaX...
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VAT |
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Interest on Rupee Denominated Bonds not to exceed 500 bps over base rate of SBI, CBDT notifies
Posted Date : 30-Jul-2013 , 09:38:24 pm | Posted By: CASANSAAR
SECTION 194LD OF THE INCOME-TAX ACT, 1961 - INCOME BY WAY OF INTEREST ON CERTAIN BONDS AND GOVERNMENT SECURITIES - NOTIFIED RATES OF INTEREST ON RUPEE DENOMINATED BOND OF AN INDIAN COMPANY
NOTIFICATION NO. 56/2013 [F.NO.149/81/2013-TPL]/SO 2311(E),DATED 29-7-2013
In exercise of the powers conferred by the proviso to sub-section (2) of section 194LD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following rates of interest in respect of rupee denominate...
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Income Tax |
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e-filling of P-VAT 15 for quarter 1 of FY 2013-14 has been extended till 6th August, 2013
Posted Date : 30-Jul-2013 , 08:58:10 pm | Posted By: CASANSAAR
Govt. of PUNJAB
EXCISE AND TAXATION DEPARTMENT
PUBLIC NOTICE
Dated:
Attention : All VAT Dealers, Advocates, Chartered Accountants and Cost Accountants
Subject: Last date for submitting tax and e-filling VAT 15 for Quarter 1 of FY 2013-14
1. The VAT 15 e-Filling service for quarter 1 of FY 2013-14 was started from 1stJuly, 2013.
2. The last date for e-filling of VAT 15 for quarter 1 of FY 2013-14 has beenextended till 6th August, 2013.
3. Please be informed that the dates for su...
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VAT |
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Regarding DVAT FORM T-2.
Posted Date : 30-Jul-2013 , 07:59:10 am | Posted By: CASANSAAR
In exercise of the powers conferred. under sub-section (1) read with sub-section (3) ofsection 70 of Delhi Value Added Tax Act, 2004, Form T-2 was prescribed for dealers (except thedealers exclusively dealing in tax free goods) whose gross turnover exceeded Rs. 10 crore duringthe year 2011-12 orany.future date on which the dealer attains the lower limit of GTO of RS.10 Cr.,vide notification No. F.7(433)/Policy-111VAT/2012/180-1'90 dated 17.05.2013. to file onlineinformation on the goods being i...
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VAT |
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Implementation of Section 51-A of UAPA, 1967
Posted Date : 26-Jul-2013 , 08:00:10 pm | Posted By: CASANSAAR
RBI/2013-14/162DBOD. AML. No. 1416 /14.06.001/2013-14
July 26, 2013
The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir,
Implementation of Section 51-A of UAPA, 1967 –Updates of the UNSCR 1988(2011) Sanctions List
Please refer to ourcircular DBOD. AML. No. 6328 /14.06.001/2012-13 datedOctober 29, 2012on the captioned subject. We have since received from Government of India, Ministry of External Affairs, UN...
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RBI |
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Due date for filling Online DVAT return for Quarter 1 of 2013-14 extended from 25-07-2013 to 07-08-2013
Posted Date : 25-Jul-2013 , 06:39:04 pm | Posted By: CASANSAAR
In order to facilitate the filing of online DVAT/CST returns, in exercise of thepowers conferred under Rule 49A of the DVAT Rules 2005, the last date of filing of return,excluding Annexure 2C and Annexure 2D, for the quarter ending 30.06.2013 for dealers,including composition dealers, shall be as per schedule given below:-
Last date of filingof online return :07.08.2013
Last date of filinghardcopy of return : 10.08.2013
Further, the last date for filing Annexure 2C and Annexure 2D forming p...
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VAT |
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Dropping from audit proceedings in r/o dealers dealing exclusively in exempted/tax free items.
Posted Date : 25-Jul-2013 , 06:33:41 pm | Posted By: CASANSAAR
The: V.AT Audit Branch, KCS Branch, Spl. Zone Branch and other Wards have been assigned theaudit of the business affairs of dealers u/s 58 of OVATAct, 2004 based on the risk profile of thedealers. Amongst such selected cases, some cases pertain to the dealers who are engagedexclusively in exempted/tax free items. In this regard, it is clarified that such cases of dealers engagedexclusively in exempted/tax free items may not be taken up for audit, even if a notice of audit hasalready been issued ...
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VAT |
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Regarding - applicable excise duty on Sedan cars like Maruti SX4, Honda Civic, Toyota Corolla Altis under notification No. 12/2013-CE dated 1st March, 2013
Posted Date : 25-Jul-2013 , 08:11:38 am | Posted By: CASANSAAR
Circular No. 972/06/2013.CX
F. No. 354/04/2013 - TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
****
NewDelhi,Dated 24thJuly, 2013.
To
All Chief Commissioners of Central Excise,
All Chief Commissioners of Customs & Central Excise.
Subject:Applicable excise duty on Sedan cars likeMarutiSX4, Honda Civic, Toyota CorollaAltisunder notification No. 12/2013-CE dated 1stMarch, 2013 - regarding
Sir/Madam,
I am directed to invite your attentio...
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Excise |
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Section 42(1) of the Reserve Bank of India Act, 1934
Posted Date : 25-Jul-2013 , 08:10:13 am | Posted By: CASANSAAR
RBI/2013-14/160RPCD.CO.RRB.No. 16/03.05.33/2013-14
July 24, 2013
All Scheduled State Cooperative Banks/Regional Rural Banks
Dear Sir,
Section 42(1) of the Reserve Bank of India Act, 1934 – Change inDaily Minimum Cash Reserve Maintenance Requirement
Please refer toPress Release 2013-2014/154 dated July 23, 2013announcing additional measures to address exchange market volatility.
2. As mentioned therein, currently, banks are allowed to maintain a minimum of 70 per cent of the required ...
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RBI |
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Migration of Post-dated cheques (PDC)/Equated Monthly Instalment (EMI) Cheques to Electronic Clearing Service (Debit)
Posted Date : 25-Jul-2013 , 08:09:12 am | Posted By: CASANSAAR
RBI/2013-14/158DPSS.CO.CHD.No./209/04.07.05/2013-14
July 24, 2013
The Chairman and Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks including RRBs /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir
Migration of Post-dated cheques (PDC)/Equated Monthly Instalment (EMI) Cheques to Electronic Clearing Service (Debit)
We invite a reference to our circularDPSS.CO.CHD.No.1622/04.07.05/2012-13 dated M...
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RBI |
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Credit Information Companies (Regulation) Act, 2005
Posted Date : 25-Jul-2013 , 08:08:31 am | Posted By: CASANSAAR
RBI/2013-14/157RPCD.CO.RRB.BC.No.14/03.05.33/2013-14
July 23, 2013
The ChairmanAll Regional Rural Banks (RRBs)
Dear Sir,
Credit Information Companies (Regulation) Act, 2005 – Compliance
Please refer to ourcircular RPCD.CO.RRB.No.32/03.05.33/2009-10 dated October 20, 2009advising RRBs, that in terms of Section 15(1) of Credit Information Companies (Regulation) Act 2005, every credit institution has to become a member of at least one Credit Information Company within a period of three m...
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RBI |
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Priority Sector Lending Reporting
Posted Date : 25-Jul-2013 , 08:07:50 am | Posted By: CASANSAAR
RBI/2013-14/156RPCD.CO.Plan. BC 15/04.09.01/2013-14
July 24, 2013
The Chairman/ Managing Director/Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]
Madam/Dear Sir,
Priority Sector Lending Reporting – Definition of “disbursement”
Please refer to thecircular RPCD.CO.Plan. BC 56/04.09.01/2012-13 dated January 7, 2013on Priority Sector Lending –Revised Reporting System.
2. Disbursement to be reported in the monthly and yearly report...
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RBI |
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