Modification of ECB guidelines for NBFCs
Posted Date : 10-Jul-2013 , 08:28:56 pm | Posted By: Vinay Sharma
EXTERNAL COMMERCIAL BORROWINGS (ECB) POLICY - NON-BANKING FINANCE COMPANY - ASSET FINANCE COMPANIES (NBFC - AFCS)
A.P. (DIR SERIES 2013-14) CIRCULAR NO. 6,DATED 8-7-2013
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 5 dated August 1, 2005andA.P. (DIR Series) Circular No. 69 dated January 7, 2013relating to External Commercial Borrowings (ECB).
2.As per the extant guidelines, non-banking financial companies (NBFCs) are allowed to av...
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Corporate Laws |
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Amends notification of 12/2012 -Customs Dated 17.03.2012
Posted Date : 09-Jul-2013 , 11:13:52 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 34 /2013 - Customs
New Delhi, the 8thJuly, 2013
G.S.R. (E).-In exercise of the powers conferred bysub-section (1) of section 25of theCustoms Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in thenotif...
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Custom |
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Direct Benefit Transfer (DBT) Scheme
Posted Date : 09-Jul-2013 , 11:12:48 pm | Posted By: Vinay Sharma
RBI/2013-14/129RPCD.CO. LBS.BC.No.11/02.01.001/2013-14
July 9, 2013
To
CMDs of all SLBC Convenor banks and Lead banks
Dear Sir,
Direct Benefit Transfer (DBT) Scheme
A workshop on DBT Scheme was recently held in Mysore which wasinteraliaattended by Chairman, Unique Identification Authority of India (UIDAI), Finance Secretaries of select States, Top Management of Reserve Bank of India and bankers from the State of Karnataka. While reviewing the progress of seeding of Aadhaar number in bank a...
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RBI |
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Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT)
Posted Date : 09-Jul-2013 , 11:12:30 pm | Posted By: Vinay Sharma
RBI/2013-2014/128UBD.BPD(AD).Cir.No.1/14.01.062/2013-14
July 9, 2013
The Chief Executive OfficerAll AD Category I Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) –Standards – Primary (Urban) Co-operative Banks
Please refer to ourcircular UBD.BPD (AD)Cir.No.3/14.01.062/2012-13 dated April 4, 2013on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force...
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RBI |
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CBDT following HC
Posted Date : 09-Jul-2013 , 07:11:58 pm | Posted By: Vinay Sharma
SECTION 139, READ WITH SECTION 199 OF THE INCOME-TAX ACT, 1961 - RETURN OF INCOME - CREDIT OF TDS U/S 199 TO AN ASSESSEE WHEN THE TAX DEDUCTED HAS BEEN DEPOSITED WITH REVENUE BY DEDUCTOR - DIRECTION OF HON'BLE DELHI HC IN THE CASE 'COURT ON ITS OWN MOTION VS. UNION OF INDIA &ORS. IN WP(C) 2659/2012 & WP(C) 5443/2012'
INSTRUCTION NO. 5/2013 [F.NO.275/03/2013-IT(B)],DATED 8-7-2013
1.The CBDT issues instructions with respect to processing of Income-tax returns and giving credit for TDS...
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Income Tax |
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Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
Posted Date : 08-Jul-2013 , 08:55:52 pm | Posted By: Vinay Sharma
RBI/2012-13/125A.P. (DIR Series) Circular No.5
July 8, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985between Government of India and erstwhile USSR
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.03 dated July 04, 2013, wherein the Rupee value of the Special Currency Basket was indicated as Rs.78.374512 effective from June 13, 2013.
2. AD Category...
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RBI |
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External Commercial Borrowings (ECB) Policy - Non-Banking Finance Company
Posted Date : 08-Jul-2013 , 08:55:25 pm | Posted By: Vinay Sharma
RBI/2013-14/126A.P. (DIR Series) Circular No. 6
July 8, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy - Non-Banking Finance Company –Asset Finance Companies (NBFC - AFCs)
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 5 dated August 1, 2005andA.P. (DIR Series) Circular No. 69 dated January 7, 2013relating to External Commercial Borrowings (ECB).
2. As per the ext...
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RBI |
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Exim Bank\'s Line of Credit of USD 10 million to the Government of Seychelles
Posted Date : 08-Jul-2013 , 08:55:02 pm | Posted By: Vinay Sharma
RBI/2013-14/124A.P. (DIR Series) Circular No. 4
July 8, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Line of Credit of USD 10 millionto the Government of Seychelles
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated December 18, 2012 with the Government of Seychelles, for making available to the latter, a Line of Credit (LOC) of USD 10 million (USD Ten million) for financing eligible goods, services, machinery and equipment including cons...
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RBI |
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Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Posted Date : 08-Jul-2013 , 08:54:31 pm | Posted By: Vinay Sharma
RBI/2013-14/123RPCD.RRB.RCB.AML.No. 342/07.51.018/2013-14
July 05, 2013
The Chairmen / CEOs of all Regional Rural Banks /State and Central Co-operative Banks
Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letterRPCD.CO.RRB.RCB.AML.No.9753/07.51.018/ 2012-13 dated March 15, 2013on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on t...
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RBI |
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22 Banks authorized for payment of VAT
Posted Date : 08-Jul-2013 , 08:53:42 pm | Posted By: Vinay Sharma
...
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VAT |
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Regarding last date for submission of information online in Form DP-1
Posted Date : 08-Jul-2013 , 08:51:40 pm | Posted By: Vinay Sharma
...
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VAT |
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Double Taxation Agreement - Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Bangladesh- Amendment in Notification No. GSR 758(E), Dated 8-9-1992
Posted Date : 08-Jul-2013 , 08:50:02 pm | Posted By: Vinay Sharma
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
( DEPARTMENT OF REVENUE )
NOTIFICATION No. 50/2013
DATED 04/07/2013
Whereas the annexed Protocol amending the Convention between the Government of the Republic of India and the Government of the People's Republic of Bangladesh for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as "Protocol") signed on the 16th day of February, 2013, shall enter into force on the 13th da...
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Income Tax |
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Himachal Pradesh Electricity Regulatory Commission
Posted Date : 08-Jul-2013 , 08:49:32 pm | Posted By: Vinay Sharma
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
( DEPARTMENT OF REVENUE )
NOTIFICATION No. 49/2013
DATED 3-7-2013
In exercise of the powers conferred byclause (46) of section 10of theIncome-tax Act, 1961 (43 of 1961)the Central Government hereby notifies for the purposes of the said clause, the Himachal Pradesh Electricity Regulatory Commission, a Commission established by the Central Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:-
...
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Income Tax |
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Odisha Electricity Regulatory Commission
Posted Date : 08-Jul-2013 , 08:49:18 pm | Posted By: Vinay Sharma
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
( DEPARTMENT OF REVENUE )
NOTIFICATION No. 48/2013
DATED 3-7-2013
In exercise of the powers conferred byclause (46) of section 10of theIncome-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Odisha Electricity Regulatory Commission, a Commission established by the Government of Odisha, in respect of the following specified income arising to that Commission, namely :-
(a) amount received in th...
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Income Tax |
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Rules prescribing conditions for notifying a recognized association for dealing in commodity derivates
Posted Date : 07-Jul-2013 , 02:04:13 pm | Posted By: Vinay Sharma
INCOME-TAX (NINTH AMENDMENT) RULES, 2013 - INSERTION OF RULES 6DDC, 6DDD AND FORM NO. 3BC
NOTIFICATION NO.51/2013 [F.NO.142/14/2013-TPL]/SO 2017(E),DATED 4-7-2013
In exercise of the powers conferred by clause (e) of the proviso to clause (5) of section 43 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 (9th Amen...
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Income Tax |
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SEs with nation-wide terminals to set-up additional investor service centers for investors\' convenience
Posted Date : 07-Jul-2013 , 02:02:27 pm | Posted By: Vinay Sharma
ARBITRATION MECHANISM IN STOCK EXCHANGES - INVESTOR SERVICE CENTRES
CIRCULAR NO. MRD/ICC/21/2013,DATED 5-7-2013
1.Reference may be made to circulars no. MRD/DSA/24/2010 dated August 31, 2010,MRD/SA/03/2012 dated January 20, 2012andMIRSD/2/2012 dated February 15, 2012regarding investor service centres providinginter aliaarbitration facility (arbitration as well as appellate arbitration). Presently, these facilities are being provided at 8 centres viz. Delhi, Mumbai, Kolkata, Chennai, Ahmedabad,...
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SEBI |
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Amended Health Insurance guidelines: Medical practitioners cover Homeopathic Drs.;
Posted Date : 05-Jul-2013 , 10:25:30 pm | Posted By: Vinay Sharma
AMENDMENT TO GUIDELINES ON STANDARDIZATION IN HEALTH INSURANCE
CIRCULAR NO. IRDA/HLT/REG/CIR/125/07/2013,DATED 3-7-2013
This is issued in terms of Section 14(2) of IRDA Act 1999 and has reference to Circular ref: IRDA/HLT/CIR/036/02/2013 dated 20/02/2013 regarding Guidelines on Standardization in Health Insurance. The following amendments may kindly be noted: -
A.
Standard Definitions of terminology used in Health Insurance Policies
In terms of Regulation...
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Corporate Laws |
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Karnataka Government nods to implement policy on multi-brand retail trading
Posted Date : 05-Jul-2013 , 10:20:59 pm | Posted By: Vinay Sharma
CONSOLIDATED FDI POLICY CIRCULAR 1 OF 2013 - REVIEW OF THE POLICY ON FOREIGN DIRECT INVESTMENT IN THE MULTI BRAND RETAIL TRADING SECTOR- AMENDMENT OF PARAGRAPH 6.2.16.5(2)
PRESS NOTE NO. 3 (2013 SERIES),DATED 4-7-2013
1.0Present Position:
1.1As per paragraph 6.2.16.5 of 'Circular 1 of 2013- Consolidated FDI Policy', effective from 5.4.2013, FDI, up to 51%, under the government approval route, is permitted in the multi-brand retail trading sector, subject to specified conditions.
1.2The lis...
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FEMA |
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Implementation of Cadre Restructuring in Income Tax Department : Constitution of Sub-committee No. 3 : Restructuring of Directorates
Posted Date : 05-Jul-2013 , 10:12:05 pm | Posted By: Vinay Sharma
GOVERNMENT OF INDIA
CENTRAL BOARD OF DIRECT TAXES DIRECTORATE OF INCOME TAX
(HUMAN RESOURCE DEVELOPMENT)
ICADR Building, Plot No. 6, Vasant Kunj Institutional Area Phase-II,
New Delhi 110070. Ph. 26130599, Fax 26130598
F. No. HRD/CM/102/3/2009-10/(Pt)/1112
Dated : 3ndJuly, 2013
CORRIGENDUM
Sub : - Implementation of Cadre Restructuring in Income Tax Department : Constitution of Sub-committee No. 3 : Restructuring of Directorates
In partial modification ofPara 4 of the Office Order F. No....
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Income Tax |
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Implementation of the Cadre Restructuring of the Income Tax Department
Posted Date : 05-Jul-2013 , 10:11:34 pm | Posted By: Vinay Sharma
GOVERNMENT OF INDIA, MINISTRY OF FINANCE
CENTRAL BOARD OF DIRECT TAXES
DIRECTORATE OF INCOME TAX
(HUMAN RESOURCE DEVELOPMENT)
ICADR Building, Plot No. 6, Vasant Kunj Institutional Area Phase-II
New Delhi – 110070 Ph. 26132571, Fax 26130594
F. No. HRD/102/1/2013-14/1115
Dated : 03/07/2013
To,
All Members Of the Sub-Committees (No. 1 to 7) constituted for Implementation of the Cadre Restructuring of the ITD
Sir/Madam
Sub : Implementation of the Cadre Restructuring of the Income Ta...
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Income Tax |
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Amendment in the Import Policy of Electrical Energy under Exim Code 2716 00 00.
Posted Date : 05-Jul-2013 , 10:10:44 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 COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION NO. 27 (RE-2013)/2009-2014
NEW DELHI, THE 5thJULY, 2013
Subject: Amendment in the Import Policy of Electrical Energy under Exim Code 2716 00 00.
S.O. (E):In exercise of powers conferred underSection 5of theForeign Trade (Development and Regulation) Act, 1992read withparagraph 2.1of theForeign Trade Policy, 20...
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DGFT |
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CBDT serious about HC
Posted Date : 05-Jul-2013 , 10:08:55 pm | Posted By: Vinay Sharma
SECTION 154 OF THE INCOME-TAX ACT, 1961 -RECTIFICATION OF MISTAKES - MISTAKES APPARENT FROM RECORDS - PROCEDURE TO BE FOLLOWED IN RECEIPT AND DISPOSAL OF RECTIFICATION APPLICATIONS FILED UNDER SECTION 154
INSTRUCTION NO.3/2013[F.NO.225/76/2013/ITA.II],DATED 5-7-2013
Hon'ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/2012 dated 14.03.2013 has issued several Mandamuses for necessary action by income-tax Department one of which is regarding...
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Income Tax |
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CBDT instructs higher officials to comply with HC
Posted Date : 05-Jul-2013 , 10:08:31 pm | Posted By: Vinay Sharma
SECTION 143 OF THE INCOME-TAX ACT, 1961 - ASSESSMENT - GENERAL - IDENTIFICATION OF UNSERVED INTIMATION UNDER SECTION 143(1) FOR CASES PROCESSED PRIOR TO 31-3-2010
INSTRUCTION NO.4/2013 [F.NO.225/76/2013/ITAT.II],DATED 5-7-2013
Hon'ble Delhi High Court vide judgment in case of Court On its Own Motion vs. UOI and j Ors- in W.P. (C) 2659/2012 dated 14.03.2013 has issued Seven Mandamus for necessary action by income-tax Department one of which is regarding non-enforcement of Demand where no intim...
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Income Tax |
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Liberalized formalities for resident entities in Indian Forex Market
Posted Date : 05-Jul-2013 , 10:07:58 pm | Posted By: Vinay Sharma
RISK MANAGEMENT AND INTER-BANK DEALINGS- LIBERALIZATION OF DOCUMENTATION REQUIREMENTS FOR THE RESIDENT ENTITIES IN THE INDIAN FOREX MARKET
A.P. (DIR SERIES 2013-14) CIRCULAR NO.02,DATED 4-7-2013
Attention of Authorized Dealers Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 32 dated December 28, 2010 issued on Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks. In the annex ...
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FEMA |
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Know Your Customer Norms/Anti-Money Laundering Standards/Combating Financing of Terrorism - Unique Customer Identification Code for Banks Customers in India
Posted Date : 04-Jul-2013 , 10:03:13 pm | Posted By: Vinay Sharma
RBI/2013-14/122DNBS(PD).CC.No.351/03.10.42/2013-14
July 4, 2013
All NBFCs-Deposit taking Companies/NBFC-ND-SI with assets of Rs 25 cr and above
Dear Sir/Madam,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) -Unique Customer Identification Code for Banks Customers in India (UCIC)
Please refer to ourcircular DNBS.(PD).CC.No.325/03.10.42/2012-13 dated May 3, 2013on the captioned subject, advising NBFCs to initiate steps for allott...
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RBI |
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Payment of interest on overdue public deposits
Posted Date : 04-Jul-2013 , 10:02:50 pm | Posted By: Vinay Sharma
RBI/2013-14/121DNBS.PD/CC.No.350/03.02.001/2013-14
July 04, 2013
All NBFCs
Dear Sirs,
Payment of interest on overdue public deposits
Kindly refer to clause (10) of paragraph 4 of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2007. NBFCs are at times required to freeze the term deposits of customer based on the orders of the enforcement authorities or the deposit receipts are seized by the enforcement authorities. As doubts have been raised on the p...
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RBI |
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Anti-Money Laundering/Combating of Financing of Terrorism
Posted Date : 04-Jul-2013 , 10:02:25 pm | Posted By: Vinay Sharma
RBI/2013-14/120DBOD. AML.No. 314/14.01.001/2013-14
July 4, 2013
The Chairmen/CEOs of all Scheduled Commercial Banks(Excluding RRBs)/ Local Area Banks / All India Financial Institutions
Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letterDBOD. AML.No.12913/14.01.001/ 2012-13 dated March 11, 2013on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated ...
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RBI |
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Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
Posted Date : 04-Jul-2013 , 10:02:03 pm | Posted By: Vinay Sharma
RBI/2013-14/119A.P. (DIR Series) Circular No.03
July 04, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985between Government of India and erstwhile USSR
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.112 dated June 20, 2013, wherein the Rupee value of the special currency basket was indicated as Rs.75.705663 effective from June 05, 2013.
2. AD Categ...
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RBI |
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Risk Management and Inter-Bank Dealings- Liberalization of documentation requirements for the resident entities in the Indian Forex Market
Posted Date : 04-Jul-2013 , 10:01:41 pm | Posted By: Vinay Sharma
RBI/2013-14/118A.P. (DIR Series) Circular No.02
July 04, 2013
To,
All Authorised Dealer Category – I Banks
Madam / Sir,
Risk Management and Inter-Bank Dealings- Liberalization of documentation requirements for the resident entities in the Indian Forex Market
Attention of Authorized Dealers Category – I (AD Category – I) banks is invited toA.P. (DIR Series) Circular No. 32 dated December 28, 2010issued on Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange ...
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FEMA |
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Foreign Investment in India
Posted Date : 04-Jul-2013 , 10:01:14 pm | Posted By: Vinay Sharma
RBI/2013-14/117A.P. (DIR Series) Circular No.01
July 04, 2013
To
All Category – I Authorised Dealer banks
Madam/Sir,
Foreign Investment in India – Guidelines for calculation of total foreign investment in Indian companies, transfer of ownership and control of Indian companies and downstream investment by Indian companies
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Foreign Exchange Management (Transfer or Issue of Security by a Person Re...
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FEMA |
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