Raising Money through Private Placement by NBFCs-Non-Convertible Debentures (NCDs) -Clarification
Posted Date : 03-Jul-2013 , 09:34:03 pm | Posted By: Vinay Sharma
RBI/2013-14/115DNBS(PD) CC No.349/03.10.001/2013-14
July 02, 2013
All NBFCs (including PDs)
Dear Sirs
Raising Money through Private Placement by NBFCs-Non-Convertible Debentures (NCDs) -Clarification
Please refer to our circularDNBS (PD) CC No.330/03.10.001/2012-13 dated June 27, 2013.
2. We have received a number of queries in the matter from the industry. The main refrain of the sector is that the withdrawal of the current facility of issuing NCDs without any restrictions would result in...
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Capital Requirements for Banks
Posted Date : 02-Jul-2013 , 09:51:07 pm | Posted By: Vinay Sharma
RBI/2013-14/113 DBOD.No.BP.BC.28 /21.06.201/2013-14
July 2, 2013
The Chairman and Managing Director/ Chief Executives Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks)
Madam / Dear Sir,
Capital Requirements for Banks’ Exposures to Central Counterparties
Please refer to the paragraph 77 (extract enclosed) of the Monetary Policy Statement for 2013-14 announced on May 3, 2013. It was indicated therein that the final guidelines on capital requirements for banks&rs...
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Refund of tax paid on services received by Special Economic Zones/Developers - New procedures/computation method notified
Posted Date : 02-Jul-2013 , 09:45:18 pm | Posted By: Vinay Sharma
SECTION 93 OF THE FINANCE ACT, 2013 – EXEMPTIONS FROM SERVICE TAX - REFUND OF TAX PAID ON SERVICES RECEIVED BY SPECIAL ECONOMIC ZONES/DEVELOPERS - NOTIFICATION NO.40/2012-ST RESCINDED; PROCEDURE FOR REFUND RATIONALIZED
NOTIFICATION NO.12/2013-ST,DATED 1-7-2013
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) an...
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Service Tax |
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TP circular on application of PSM is rescinded; circular on identification of development centres amended
Posted Date : 01-Jul-2013 , 09:59:51 pm | Posted By: Vinay Sharma
WITHDRAWAL/AMENDMENT OF - CIRCULARS ON TRANSFER PRICING
PRESS RELEASE,DATED 29-6-2013
Chapter X of the Income-tax Act, 1961 contains special provisions relating to avoidance of tax. Terms such as 'associated enterprise', 'international transaction', 'intangible property', and 'specified domestic transaction' are defined in different sections of the Chapter.
Section 92C provides that the arm's length price in relation to an international transaction or specified domestic transaction s...
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Income Tax |
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TP Circular No. 3 on identification of development centres is amended
Posted Date : 01-Jul-2013 , 09:59:27 pm | Posted By: Vinay Sharma
SECTION 92C OF THE INCOME-TAX ACT, 1961 - TRANSFER PRICING - COMPUTATION OF ARM'S LENGTH PRICE - CLARIFICATIONS ON FUNCTIONAL PROFILE OF DEVELOPMENT CENTERS ENGAGED IN CONTRACT R&D SERVICES WITH INSIGNIFICANT RISK - CONDITIONS RELEVANT TO IDENTIFY SUCH DEVELOPMENT CENTERS - AMENDMENT OF CIRCULAR NO. 3/2013, DATED 26-3-2013
CIRCULAR NO.06/2013 [F NO. 500/139/2012],DATED 29-6-2013
It has been brought to the notice of CBDT that there is divergence of views amongst the field officers and taxp...
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Circular No. 2 is withdrawn to curb an impression that PSM is most appropriate method in case of intangibles
Posted Date : 01-Jul-2013 , 09:58:58 pm | Posted By: Vinay Sharma
SECTION 92C OF THE INCOME-TAX ACT, 1961 - READ WITH RULE 10B OF THE INCOME-TAX RULES, 1962 - TRANSFER PRICING - COMPUTION OF ARM'S LENGTH PRICE - APPLICATION OF PROFIT SPLIT METHOD - WITHDRAWAL OF CIRCULAR NO. 2/2013, DATED 26-3-2013
CIRCULAR NO. 5/2013 [F. NO. 500/139/2012-FTD-I],DATED 29-6-2013
The Central Board of Direct Taxes had issued Circular No. 2 (hereinafter called "the Circular") on 26th March 2013 regarding application of Profit Split Method.
2. It is noticed the Circular appea...
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Income Tax |
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Regarding import of Pets under Baggage
Posted Date : 01-Jul-2013 , 09:05:04 pm | Posted By: CASANSAAR
Circular No.25 /2013 - Customs
F. No. 495/16/2012-Cus.VI
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
*****
Room No.253-A, North Block,
New Delhi the 1stJuly, 2013.
To,
All Chief Commissioners of Customs,
All Chief Commissioners of Customs (Preventive),
All Chief Commissioners ofC.Ex., Customs &S.Tax.
All Director Generals.
Sir/Madam,
Subject:Import of Pets under Baggage–reg.
Attention is invited to Boar...
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RBI Master Circulars (DGBA.CDD) July-2013
Posted Date : 01-Jul-2013 , 08:53:37 pm | Posted By: CASANSAAR
RBI Circulars July-2013
Circular Number
Date Of Issue
Department
Subject
Meant For
RBI/2013-2014/82DGBA.CDD. No. 7917/13.01.299/2013-14
1.7.2013
Department of Government and Bank Accounts
Master Circular on Nomination facility for Relief/Savings Bonds
The Chairman/Managing Director Head Office (Government Accounts Department) State Bank of India and Associates, All Nationalized banks (Excluding Punjab and Sind Bank & Andhra Bank), A...
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RBI Master Circulars (DCM) July-2013
Posted Date : 01-Jul-2013 , 08:51:29 pm | Posted By: CASANSAAR
RBI Circulars July-2013
Circular Number
Date Of Issue
Department
Subject
Meant For
RBI/2013-2014/91DCM (NE) No. G - 4/08.07.18/2013-14
1.7.2013
Department of Currency Management
Master Circular – Facility for Exchange of Notes and Coins
The Chairman and Managing Director / The Chief Executive Officer All Banks
RBI/2013-2014/87DCM(FNVD) G- 5/16.01.05/2013-14
1.7.2013
Department of Currency Management
Master Circular – Detection and Impounding of Counter...
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RBI Master Circulars (DBOD) July-2013
Posted Date : 01-Jul-2013 , 08:43:50 pm | Posted By: CASANSAAR
RBI Circulars July-2013
Circular Number
Date Of Issue
Department
Subject
Meant For
RBI/2013-2014/110DBOD. No. Dir. BC.26/13.03.00/2013-14
1.7.2013
Department of Banking Operations and Development
Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges
All Scheduled Commercial Banks (Excluding RRBs)
RBI/2013-2014/80DBOD.FID.FIC.No.4/01.02.00/2013-14
1.7.2013
Department of Banking Operations ...
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RBI Master Circulars (UBD) July-2013
Posted Date : 01-Jul-2013 , 08:38:30 pm | Posted By: CASANSAAR
RBI Circulars July-2013
Circular Number
Date Of Issue
Department
Subject
Meant For
RBI/2013-2014/32UBD.CO. BPD . MC.No. 17 /12.05.001/2013-14
1.7.2013
Urban Banks Department
Master Circular on Frauds- Classification and Reporting
Chief Executive Officers of All Primary (Urban) Co-operative Banks
RBI/2013-2014/31UBD.BPD. (PCB).MC.No.16/12.05.001/2013-14
1.7.2013
Urban Banks Department
Master Circular on Know Your Customer (KYC) Norms/Anti-Money Laundering (...
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RBI Master Circulars (FEMA) July-2013
Posted Date : 01-Jul-2013 , 08:30:37 pm | Posted By: CASANSAAR
RBI Master Circulars July-2013
Circular Number
Date Of Issue
Department
Subject
Meant For
RBI/2013-2014/15Master Circular No.15 /2013-14
1.7.2013
Foreign Exchange Department
Master Circular on Foreign Investment in India
All Category - I Authorised Dealer banks
RBI/2013-2014/14Master Circular No.14 /2013-14
1.7.2013
Foreign Exchange Department
Master Circular on Exports of Goods and Services
All Authorised Dealer Category – I ban...
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FEMA |
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Guidelines on Wealth Management /Marketing/Distribution Services offered by Banks
Posted Date : 29-Jun-2013 , 08:48:50 pm | Posted By: Vinay Sharma
DBOD.CO.FSD.No. /24.01.026/2012-13
June 28, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam
Guidelines on Wealth Management /Marketing/Distribution Services offered by Banks – Draft Guidelines
Please refer to paragraphs 86, 87 and 88 (extracts enclosed) of the Monetary Policy Statement 2013-14 announcement on May 3, 2013 regarding issue of guidelines on wealth management services and distribution of third party financial products by banks.
2. The draft guidelines o...
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Reduction of Government litigation - providing monetary limits for filing appeals by the Department before CESTAT/High Courts and Supreme court - Regarding
Posted Date : 29-Jun-2013 , 08:47:50 pm | Posted By: Vinay Sharma
F.No.390/Misc./163/2010-JC
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi 3rdJune, 2013
INSTRUCTION
To,
1. All Chief Commissioners and Directors General under the Central Board of Excise and Customs.
2. Chief Commissioner (AR), Customs, Excise & Service Tax Appellate Tribunal.
3. All Commissioners of Customs/Central Excise/Service Tax/All Authorised Representatives, CESTAT/Commissioner, Directorate of Legal Affairs.
4. <webmaster.cbec@i...
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NAME AVAILABILITY GUIDELINES, 2011- Registration of Electoral Trusts as Companies under Section 25 of the Companies Act, 1956.
Posted Date : 29-Jun-2013 , 08:47:17 pm | Posted By: Vinay Sharma
General Circular No. 12/2013
No 17/27/2013- CL V
Government of India
Ministry of Corporate Affairs
5thfloor, ‘A’ Wing, Shastri Bhawan,
Dr. Rajendera Prasad Road, New Delhi-I
Dated: 28.06.2013
All the Regional Directors,
All the Registrar of Companies
Subject: NAME AVAILABILITY GUIDELINES, 2011- Registration of Electoral Trusts as Companies under Section 25 of the Companies Act, 1956.
Sir,
In continuation to this Ministry'scirculars no. 45 dated 8.7.2011,48/2011 dated 22.0...
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Corporate Laws |
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Detection and Reporting of counterfeit notes
Posted Date : 29-Jun-2013 , 08:44:39 pm | Posted By: Vinay Sharma
RBI/2012-13/562DCM (FNVD) No.5840/16.01.05/2012-13
June 27, 2013
The Chairman and Managing Directors/Chief Executives Officers ofAll Scheduled Commercial Banks
Madam / Sir,
Detection and Reporting of counterfeit notes
Please refer to the paragraph 115 (extract enclosed) of the Monetary Policy Statement for 2013-14 announced on May 3, 2013. It was indicated therein that the guidelines on the scheme of incentives for detection and reporting of counterfeit notes and the scheme of penalties for...
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Good Dealer Scheme 2013-14
Posted Date : 29-Jun-2013 , 10:57:11 am | Posted By: Vinay Sharma
...
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VAT |
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LATE DATE OF SUBMISSION OF DP-1 FORM CHANGED
Posted Date : 29-Jun-2013 , 10:48:09 am | Posted By: Vinay Sharma
...
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VAT |
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Amendment Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
Posted Date : 28-Jun-2013 , 10:22:35 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 Excise and Customs)
Notification No. 68/2013-Customs (N. T.)
New Delhi, 27thJune, 2013
6 Ashadha, 1935 (SAKA)
In exercise of the powers conferred bysub-section (2) of section 14of theCustoms Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC), being satisfied that it is necessary and expedient...
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Custom |
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Financing of Infrastructure - Definition of \'Infrastructure Lending\'
Posted Date : 28-Jun-2013 , 10:18:25 pm | Posted By: Vinay Sharma
RBI/2012-13/561 DBOD.BP.BC.No. 106/ 08.12.014 / 2012-13
June 28, 2013
All Scheduled Commercial Banks
(excluding RRBs) and
All India Term-Lending and Refinancing Institutions
(EXIM Bank, NABARD, NHB and SIDBI)
Dear Sir,
Financing of Infrastructure - Definition of 'Infrastructure Lending'
Please refer to our circularDBOD.BP.BC.No.58/08.12.014/2012-13 dated November 20, 2012on ‘Definition of Infrastructure Lending’, whereby our definition of Infrastructure Lending was harmonis...
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CBDT prescribes docs and form in respect of transactions with notified jurisdictional area under Sec. 94A
Posted Date : 28-Jun-2013 , 10:10:43 pm | Posted By: Vinay Sharma
INCOME-TAX (EIGHTH AMENDMENT) RULES, 2013 - INSERTION OF RULE 21AC AND FORM NO. 10FC
NOTIFICATION NO. 47/2013 [F.NO. 142/12/2013-TPL]/SO 1856(E),DATED 26-6-2013
In exercise of the powers conferred by sub-section (3) of section 94A 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 (8th Amendment) Rules, 2013.
(2) ...
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CADRE RESTRUCTURING OF IT DEPARTMENT - CONSTITUTION OF THE CORE COMMITTEE
Posted Date : 28-Jun-2013 , 09:58:25 pm | Posted By: Vinay Sharma
1.Restructuring proposal of the Income-tax Department has been approved by Government on 23.05.2013 for the creation of a total 20,751 additional posts, and for carrying out various measures to increase the effectiveness of the Department.
2.The steps required to be taken to implement the Cadre Restructuring have been considered by the Board and it has been decided that its roll-out needs to be carried out in a planned and time-bound manner. It has therefore been decided to constitute a Core Co...
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Income Tax |
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Change in Tariff Value of RBD Palmolein, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified
Posted Date : 27-Jun-2013 , 10:25:10 pm | Posted By: Vinay Sharma
Change in Tariff Value of RBD Palmolein, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified
June 27, 2013
In exercise of the powers conferred bysub-section (2) of section 14of theCustoms Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in thenotification of the Government of India in the Ministry of...
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Custom |
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Narcotic Drugs and Psychotropic Substances (Regulation of Controlled Substances) Order, 2013
Posted Date : 27-Jun-2013 , 10:02:45 pm | Posted By: Vinay Sharma
...
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Custom |
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Customs Brokers Licensing Regulations, 2013
Posted Date : 27-Jun-2013 , 10:01:20 pm | Posted By: Vinay Sharma
[To be published in the Gazette of India, Extraordinary, Part II, Sector 3, Sub- section (i)]
Government of India
Ministry of Finance
(Department of Revenue)
New Delhi, the 21stJune, 2013
Notification No. 65/2013 - Customs (N.T.)
G.S.R. …..(E).— In exercise ofthe powers conferred bysub-section (2) of section 146 of the Customs Act, 1962 (52 of 1962), and in supersessionof theCustomsHouse Agents Licensing Regulations 2004 , except as respect things done or omitted t...
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Custom |
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Classification of Elements of Filters of Heading 8421
Posted Date : 27-Jun-2013 , 09:59:03 pm | Posted By: Vinay Sharma
Circular No. 24 / 2013 - Customs
F. No. 528/93/2012-STO (TU)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
229-A, North Block, New Delhi
27thJune, 2013
To
All Chief Commissioners of Customs/ Customs (Prev.)/ C&CE,
All Directors General of CBEC,
All Commissioners of Customs / Customs (Prev.) / C&CE
All Commissioners of Customs & Central Excise (Appeals).
Sir / Madam,
Subject: Classification of Elements of Filters of H...
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Custom |
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Rationalisation of Returns
Posted Date : 27-Jun-2013 , 09:58:17 pm | Posted By: Vinay Sharma
RBI/2012-2013/556MPD.PMD .BC.365/07.01.279/2012-13
June 27, 2012Ashadha 6, 1935 (S)
To,
All Scheduled Commercial Banks
Dear Sir / Madam,
Rationalisation of Returns
Please refer to ourcircular MPD.BC.218/07.01.279/2002-03 dated July 24, 2002on the captioned subject.
2. At present, banks are submitting following SFR Returns/Statements.
SFR II
SFR III
SFR VIII
Statement on daily maintenance of SLR
3. On further rationalisation, it has been decided to discontinue submission of SFR VI...
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RBI |
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Import of Gold by Nominated Banks /Agencies
Posted Date : 27-Jun-2013 , 09:57:55 pm | Posted By: Vinay Sharma
RBI/2012-13/557A.P. (DIR Series) Circular No. 122
June 27, 2013
To
All Scheduled Commercial Banks which areAuthorised Dealers (ADs) in Foreign Exchange/ All agenciesnominated for import of gold
Madam/Sir
Import of Gold by Nominated Banks /Agencies
Attention of Authorised Persons is drawn to ourA.P. (DIR Series) Circular No. 103 dated May 13, 2013&A.P. (DIR Series) Circular No. 107 dated June 04, 2013on the captioned subject in terms of which, it was decided to restrict the import of go...
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RBI |
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Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending-Amendment in income generation criteria
Posted Date : 27-Jun-2013 , 09:57:34 pm | Posted By: Vinay Sharma
RBI/2012-13/558RPCD.CO.Plan.BC 80/04.09.01/2012-13
June 27, 2013
The Chairman/ Managing Director/Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]
Madam/Dear Sir,
Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending-Amendment in income generation criteria
Please refer to Paragraph VIII (a) ofcircular No. RPCD.CO.Plan. BC.13/04.09.01/2012-13 dated July 20, 2012on Priority Sector Lending-Targets and Classification wherein i...
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Raising Money through Private Placement by NBFCs-Debentures etc.
Posted Date : 27-Jun-2013 , 09:57:14 pm | Posted By: Vinay Sharma
RBI/2012-13/560DNBD(PD) CC No. 330/03.10.001/2012-13
June 27, 2013
All NBFCs (including PDs)
Dear Sirs
Raising Money through Private Placement by NBFCs-Debentures etc.
NBFCs raise money by issuing capital/debt securities including debentures by way of public issue or private placement. In the case of public issue of such securities, institutions and retail investors can participate. Private placement, on the other hand, may involve institutional investors. It has however been observed that ...
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