KYC Norms/AML Standards/Combating Financing of Terrorism/Obligation of banks under PMLA, 2002
Posted Date : 19-Jan-2013 , 01:37:40 pm | Posted By: Vinay Sharma
RBI/2012-13/385 DBOD.AML.BC. No.71/14.01.001/2012-13
January 18, 2013
The Chairmen/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks /All India Financial Institutions
Dear Sir,
Know Your Customer (KYC) norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002
Please refer to paragraph 2.4 (a) of Master Circular DBOD.AML.BC. No.11/14.01.001/2012-13 dated July...
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RBI |
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RBI advised Authorized dealers to ensure compliance of FEMA provisions to avoid penalty burden
Posted Date : 18-Jan-2013 , 04:40:51 pm | Posted By: Vinay Sharma
Reporting under Foreign Exchange Management Act, 1999
A.P. (DIR Series 2012-13) Circular No. 76, dated 17-1- 2013
In terms of section 11(2) of FEMA, 1999, the Reserve Bank may, for the purpose of ensuring the compliance with the provisions of the Act or of any rule, regulation, notification, direction or order made thereunder, direct any authorized person to furnish such information, in such manner, as it deems fit. Accordingly, RBI has entrusted to the Authorised Dealers (ADs) the r...
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FEMA |
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Rate of exchange of conversion of each of the foreign currency with effect from 18th January, 2013
Posted Date : 18-Jan-2013 , 02:31:29 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
Notification No. 05/2013-Customs (N.T.)
DATED THE 17th January, 2013
27 Pausa, 1934(SAKA)
S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finan...
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Custom |
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Reporting under Foreign Exchange Management Act, 1999 (FEMA)
Posted Date : 18-Jan-2013 , 02:29:34 pm | Posted By: Vinay Sharma
RBI/2012-13/383 A.P. (DIR Series) Circular No. 76
January 17, 2013
To
All Category - I Authorised Dealer Banks
Madam /Sir,
Reporting under Foreign Exchange Management Act, 1999 (FEMA)
In terms of Section 11 (2) of FEMA, 1999, the Reserve Bank may, for the purpose of ensuring the compliance with the provisions of the Act or of any rule, regulation, notification, direction or order made thereunder, direct any authorized person to furnish such information, in such manner, as it deem...
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FEMA |
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CBDT clarifies certain issues relating to export of software; grants exemption for onsite software developments
Posted Date : 18-Jan-2013 , 02:12:37 pm | Posted By: Vinay Sharma
SECTION 10A, READ WITH SECTIONS 10AA & 10B OF THE INCOME-TAX ACT, 1961 - FREE TRADE ZONE - DIRECT TAX BENEFITS - CLARIFICATION ON ISSUES RELATING TO EXPORT OF COMPUTER SOFTWARE
circular No. 1/2013 [F. No. 178/84/2012-ITA.I], dated 17-1-2013
The Indian Software Industry has been the beneficiary of direct tax incentives under the provisions like sections 10A, 10AA & 10B of the Income -tax Act, 1961 in respect of their profits derived from the export of computer software. These p...
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Income Tax |
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Listed co. can
Posted Date : 18-Jan-2013 , 02:11:00 pm | Posted By: Vinay Sharma
Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and Equity Listing Agreement
Circular no. CFD/DIL/3/2013, dated 17-1-2013
1. SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 ("SEBI (ESOS & ESPS) Guidelines") were issued to enable listed entities to reward their employees through stock option schemes and stock purchase schemes and to ensure that such schemes introduced by the companies are...
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SEBI |
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PVAT
Posted Date : 17-Jan-2013 , 08:04:10 pm | Posted By: CASANSAAR
GOVT. of PUNJAB
Excise andTaxation Department
PUBLIC NOTICE
Attention: All VATDealers, Advocates, Chartered Accountants and Cost Accountants
Subject: Launch date fore-Filingof VAT 15 and Last date of submitting tax
1.0 This is to inform all concerned that thee-Filingof VAT 15 for 3rd quarter of Financial Year 2012-13 is likely to start from23rd January 2013.
2.0 Sufficient time of 1 month would be provided toe-fileVAT 15 for the above mentioned quarter.
3.0 However, please note ...
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VAT |
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Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013
Posted Date : 17-Jan-2013 , 07:55:03 pm | Posted By: CASANSAAR
Centralised Processing of Statements oftax deductedat source scheme, 2013
NotificationNo. 3/2013[F.No.142/39/2012-SO(TPL)], dated 15-1-2013
In exercise of the powers conferred by sub-section (2) of section 200A of the Income-tax Act, 1961 (43 of 1961), theCentralBoardof Direct Taxes hereby makes the following scheme for centralised processing of statements oftax deductedat source, namely:-
Short title and commencement
1.(1) This scheme may be called the Centralised Processing of Stat...
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Income Tax |
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Disposal of firearms imported as baggage under transfer of residence
Posted Date : 17-Jan-2013 , 07:48:28 pm | Posted By: CASANSAAR
Circular No.04 /2013-Customs
F.No.401/179/2012 –CusIII
Government of India
Ministry of Finance
(Department of Revenue)
CentralBoard of Excise & Customs
*****
New Delhi, dated15thJanuary, 2013
To,
All Chief Commissioners of Customs.
All Chief Commissioners of Customs & Central Excise.
All Chief Commissioners of Central Excise.
Sir / Madam,
Subject: Disposal of firearms imported as baggage under transfer of residence – reg.
The undersigned is direc...
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Custom |
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Overseas Direct Investment by residents of India in Pakistan allowed under approval route
Posted Date : 16-Jan-2013 , 05:56:12 pm | Posted By: Vinay Sharma
Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2012 - Amendment in Regulations 6 & 15 and Part I of Form ODI
Notification No. Fema 249/RB-2012]/GSR 947(E), Dated 22-11-2012
In exercise of the powers conferred by clause (a) of sub-section (3) of section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign E...
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FEMA |
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Residents of Pakistan allowed to invest in shares and debentures of Indian entities not engaged in restricted sector
Posted Date : 16-Jan-2013 , 03:58:31 pm | Posted By: Vinay Sharma
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (SEVENTH AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN REGULATION 5 AND SCHEDULE 1
NOTIFICATION [NO.FEMA 244/2012-RB]/GSR 946(E), DATED 22-10-2012
In exercise of the powers conferred by clause (b) of sub-section (3) of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Manage...
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FEMA |
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Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
Posted Date : 16-Jan-2013 , 12:33:27 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED 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. 03/2013-Customs (N. T.)
New Delhi,15th January, 2013
25 Pausha, 1934 (SAKA)
S.O. ____ (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that...
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Custom |
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Due date to file financial statements in XBRL mode further extended up to 15-2-2013
Posted Date : 16-Jan-2013 , 12:17:30 pm | Posted By: Vinay Sharma
Filing of Balance Sheet and Profit and Loss Account in extensible Business Reporting Language (XBRL) mode for the financial year commencing on or after 1-4-2011
General Circular No. 1/2013, dated 15-1-2013
In continuation of the Ministry's General Circular Nos. 16/2012, dated 6-7-2012, 34/2012, dated 25-10-2012 and 39/2012, dated 12-12-2012 on the subject cited above, it is stated that the time limit to file the financial statements in the XBRL mode without any additional fee/penal...
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Corporate Laws |
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Notification No. 2/2013- Customs (N.T.)
Posted Date : 15-Jan-2013 , 12:13:10 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION
3, SUB-SECTION (ii), EXTRAORDINARY]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
New Delhi, Dated the 14th January, 2013
24 Pausa, 1934(SAKA)
Notification No. 2/2013- Customs (N.T.)
S.O. (E). – In the Ministry’s Notification No. 12/139/59-Ad.III B dated 05.11.62 as amended vide Notification No. 04/96-Custom (N.T.) dated 22.01.1996, the following am...
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Custom |
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RBI permits residents to include resident \'close relatives\' as joint holder in foreign currency account
Posted Date : 14-Jan-2013 , 07:22:07 pm | Posted By: Vinay Sharma
Foreign Exchange Management (Foreign Currency Accounts by A Person Resident In India) (Second Amendment) Regulations, 2012 - Amendment in Regulation 5 and Schedule-I
Notification [No.Fema/239/2012-RB]/GSR 915(E), Dated 25-9-2012
In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (F...
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FEMA |
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RBI imposes restriction on obtaining credit enhancement in form of overseas guarantee
Posted Date : 14-Jan-2013 , 07:20:49 pm | Posted By: Vinay Sharma
Foreign Exchange Management (Guarantees) (Third Amendment) Regulations, 2012 - Insertion of Regulation 3A
Notification [No. FEMA251/2012-RB]/GSR 917(E), Dated 6-12-2012
In exercise of the powers conferred by clause (j) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Guarantees) Regulations, 2000 (Notification No....
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FEMA |
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Rationalisation process for obtaining PAN by Investors
Posted Date : 14-Jan-2013 , 06:58:36 pm | Posted By: Vinay Sharma
CIRCULAR CIR/MIRSD/01 /2013 January 04, 2013
1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. Depository Participants through Depositories 4. Mutual funds 5. Association of Mutual Funds in India 6. Portfolio Managers 7. KYC Registration Agencies (KRAs) 8. Alternative Investment Funds (AIFs) 9. Collective Investment Schemes (CIS)
Dear Sir,
Sub: Rationalisation process for obtaining PAN by Investors
1. Please refer to SEBI circular no CIR/MIRSD/16/201...
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SEBI |
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Definition of \'Infrastructure Loan\' of NBFCs - Harmonisation
Posted Date : 14-Jan-2013 , 06:49:00 pm | Posted By: Vinay Sharma
RBI/2012-13/351 DNBS.PD.CC.No. 317/03.10.001/2012-13
December 28, 2012
All NBFCs
Dear Sir/Madam,
Definition of 'Infrastructure Loan' of NBFCs - Harmonisation
Please refer to RBI’s circular DBOD.No.BP.BC.58/ 08.12.014/2012-13 dated November 20, 2012 on ‘Second Quarter Review of Monetary Policy 2012-13 – Definition of Infrastructure Lending' in terms of which the definition of ‘infrastructure lending for the purpose of financing of infrastructure by the bank...
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RBI |
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Export of Pharmaceutical Grade / Specialty Sugar not required to registered with DGFT
Posted Date : 14-Jan-2013 , 02:18:28 pm | Posted By: Vinay Sharma
Notification No 29 (RE – 2012)/2009-2014
New Delhi, Dated : 11th January, 2013
Subject: Export of Pharmaceutical Grade Sugar and Specialty Sugar.
S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government, with immediate effect, hereby makes the following amendments in Notification No. 117 (RE-2010)/2009-2014 dated 14.05.2012...
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DGFT |
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Clarification in respect of notices/ reminder letters issued for life insurance policies
Posted Date : 14-Jan-2013 , 11:32:21 am | Posted By: Vinay Sharma
Circular No.166/1/2013 -ST
F.No 354/190/2012- TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Tax Research Unit
*****
Room No 153, North Block, New Delhi
Dated 1st January, 2013
To
Chief Commissioner of Customs and Central Excise (All);
Chief Commissioner of Central Excise & Service Tax (All);
Director General of Service Tax; Director General of Central Excise Intelligence; Director General of Audit;
Commissioner of Customs...
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Service Tax |
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Simplification and Revision of Softex Procedure at SEZs
Posted Date : 14-Jan-2013 , 11:30:06 am | Posted By: Vinay Sharma
RBI/2012-13/359 A.P. (DIR Series) Circular No. 66
January 1, 2013
To
All Category - I Authorized Dealer Banks
Madam / Sir,
Export of Goods and Services – Simplification and Revision of Softex Procedure at SEZs
Attention of the Authorised Dealer Banks is invited to Regulation 6 of the Notification No. FEMA 23/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended by the Notification No.FEMA.36/2001-RB dated Februa...
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RBI |
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Post Office Savings Account (Amendment) Rules, 2012
Posted Date : 14-Jan-2013 , 11:23:43 am | Posted By: Vinay Sharma
NOTIFICATION NO. GSR 926(E) [F. NO. 2/6/2006-NS.II], DATED 24-12-2012
In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Account Rules, 1981, namely:—
1. (1) These rules may be called the Post Office Savings Account (Amendment) Rules, 2012.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In ...
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Students Zone |
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The Cost Accountants Chapters Bye-laws, 2013
Posted Date : 13-Jan-2013 , 03:59:11 pm | Posted By: Vinay Sharma
Notification Date- 01.01.2013
No. CMA (2)/2013: In exercise of powers conferred by Regulation 146 of the Cost and Works Accountants Regulations, 1959, the Council of the Institute of Cost Accountants of India hereby issues The Cost Accountants’ Chapters Bye-laws, 2013 with effect from 1st January, 2013 repealing the earlier Bye-laws called The Cost Accountants’ Chapters (Amendment) Bye-laws, 2010 as follows:
1. Short Title—These Bye-laws may be called “The Cost Acc...
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Students Zone |
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Clarification on Clause 36 of the Equity Listing Agreement
Posted Date : 12-Jan-2013 , 12:00:38 pm | Posted By: Vinay Sharma
CIRCULARCIR/CFD/DIL/2/2013 January 3, 2013
To
The Stock Exchanges
Dear Sir/Madam
Sub: Clarification on Clause 36 of the Equity Listing Agreement
1. It has been brought to our notice that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not disclosed to the stock exchanges.2. The listed companies are guided by Clause 36 of the Listing Agreement of t...
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SEBI |
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Issue of equity shares under the FDI scheme allowed under the Government route
Posted Date : 12-Jan-2013 , 11:36:28 am | Posted By: Vinay Sharma
RBI/2012-13/375 A. P. (DIR Series) Circular No.74
January 10, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI scheme allowed under the Government route
Attention of Authorised Dealers Category – I (AD Category - I) banks is invited to Para 3 of A.P. (DIR Series) Circular No. 74 dated June 30, 2011 read with A.P. (DIR Series) Circular No. 55 dated December 9, 2011, allowing ther...
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RBI |
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Service tax on services by way of transportation of goods by rail/vessel
Posted Date : 11-Jan-2013 , 02:46:14 pm | Posted By: CA Satuti Mahajan
Circular No.167/2 /2013 - ST
F.No.B-1/2/2010 -TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Tax Research Unit
153, North Block,
New Delhi, 1st January, 2013
To
Chief Commissioners of Central Excise and Customs (All), Director General (Service Tax), Director General(Systems), Director General (Central Excise Intelligence), Director General (Audit),Commissioners of Service Tax (All), Commissioners of Central Excise (All), Commi...
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Service Tax |
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Eligibility Criteria for Incremental Exports Incentivisation Scheme
Posted Date : 11-Jan-2013 , 01:40:26 pm | Posted By: Vinay Sharma
Notification No: 27(RE-2012)/2009-2014
New Delhi, the 28th December, 2012
S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in the Foreign Trade Policy (FTP) 2009-14 with immediate effect:
The word “marine products” is deleted from para 1 B.1(iii) of FTP 2009-14.
The following sub para i...
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DGFT |
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DVAT
Posted Date : 11-Jan-2013 , 01:36:44 pm | Posted By: Vinay Sharma
TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY)
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH)
VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002
No.F.7(433)/Policy-II/VAT/2012/1079-1090 Dated:03-01-2013
NOTIFICATION
I, Prashant Goyal, Commissioner, Value Added Tax, Government of National Capital Territory of Delhi, in exercise of the powers conferred on me by sub-section (1) read with sub-section (3) of section 70 of Delhi Valu...
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VAT |
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SEBI (Self Regulatory Organizations) (Amendment) Regulations, 2013
Posted Date : 10-Jan-2013 , 02:43:07 pm | Posted By: Vinay Sharma
notification No. LAD-NRO/GN/2012-13/27/5469, dated 7-1-2013
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Self Regulatory Organizations) Regulations, 2004, namely:-
1. These regulations may be called the Securities and Exchange Board of India (Self Regulatory Organizations) (Amendment) Regulations, 2013.
2. They s...
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SEBI |
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No TDS on specified Nature of payment to Scheduled Bank
Posted Date : 05-Jan-2013 , 10:31:31 pm | Posted By: CASANSAAR
Section 197A of the income-tax Act, 1961 – Deduction of tax at source – no deduction in certain cases – Specified payment under section 197A(1f)
NOTIFICATIONNO. 56/2012 [F. NO. 275/53/2012-IT(B)], DATED 31-12-2012
In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature speci...
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Income Tax |
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