Bank Finance to Factoring Companies
Posted Date : 12-Sep-2012 , 10:20:40 am | Posted By: CA. KRISHAN KUMAR SAINI
RBI/2012-13/199DBOD.BP.BC.No.40/21.04.172/2012-13
September 11, 2012
All Scheduled Commercial Banks(excluding RRBs)
Madam / Dear Sir,
Bank Finance to Factoring Companies
Please refer to paragraph 2 of ourcircular DBOD.BP.BC.No.60/08.12.01/2007-08 dated February 12, 2008on ‘Bank Finance to Factoring Companies’, in terms of which banks can extend financial assistance to support the factoring business of Factoring Companies which comply with certain criteria.
2. Subsequent to th...
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RBI |
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Know Your Client Requirements
Posted Date : 10-Sep-2012 , 09:09:38 am | Posted By: CA. KRISHAN KUMAR SAINI
CIRCULAR
CIR/MIRSD/ 11 /2012 September 5, 2012
1.Stock Brokers through Recognized Stock Exchanges
2. Depository Participants through Depositories
3. Mutual funds
4. Association of Mutual Funds in India
5. Portfolio Managers
6. KYC Registration Agencies (KRAs)
7. Alternative Investment Funds (AIFs)
8. Collective Investment Schemes (CIS)
Dear Sir,
Sub: Know Your Client Requirements
1. This has reference to SEBI circulars No CIR/MIRSD/16/2011 dated August 22,
2011 and MIRSD/SE/Cir-21...
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SEBI |
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Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR Committee\'s Al Qaida Sanctions List
Posted Date : 08-Sep-2012 , 06:46:57 pm | Posted By: CA. KRISHAN KUMAR SAINI
RBI/2012-13/196DNBS (PD).CC. No 302 /03.10.42 /2012-13
September 7, 2012
All Non Banking Financial Companies /Residuary Non Banking Companies
Dear Sir,
Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1267 (1999) /1989(2011) Committee's Al Qaida Sanctions List
Please refer toDNBS (PD).CC.No 296/03.10.42/2012-13 dated July 11, 2012. The Chairman of UN Security Council's 1267/ 1989 Committee has issued notes datedJune 21, 2012,June 28, 2012, andJuly 2, 2012(copy enclose...
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RBI |
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Interest Rate on Deposits
Posted Date : 08-Sep-2012 , 10:11:27 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/192 UBD.BPD.Cir.No. 7/13.01.000//2012-13
September 6, 2012
The Chief Executive Officer All Primary (Urban) Co-operative Banks
Dear Sir/Madam
Interest Rate on Deposits
Please refer to our circular UBD.No.DS.PCB.CIR.53/13.01.00/97-98 dated April 29, 1998 whereby banks were permitted to offer, at their discretion, differential rates of interest on single term deposits of ` 15 lakh and above, subject to the condition that the schedule of interest rates payable on deposit...
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RBI |
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Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency
Posted Date : 08-Sep-2012 , 07:35:58 am | Posted By: CA. KRISHAN KUMAR SAINI
[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. 80/2012 - Customs (N.T.)
Dated the 6thSeptember, 2012
15Bhadrapada, 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 o...
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Custom |
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Regarding verification mechanism and monitoring of export obligation under duty exemption/ reward Schemes
Posted Date : 07-Sep-2012 , 08:22:36 am | Posted By: CASANSAAR
Circular No. 25 /2012-Cus
F. No. 603/03/2011-DBK
Government of India
Ministry of Finance
Department of Revenue
Drawback Division
*****
New Delhi Dated:6thSeptember, 2012
To
All Chief Commissioners of Customs/ Central Excise/ Central Excise & Customs,
All Commissioners of Customs/ Central Excise/ Central Excise & Customs,
All Director General of CBEC,
Chief Departmental Representatives of CESTAT
Sir/Madam,
Sub: Verification mechanism and monitoring of export obligation...
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Custom |
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Making E-payment of Customs duty mandatory-regarding.
Posted Date : 06-Sep-2012 , 08:28:22 am | Posted By: CA. KRISHAN KUMAR SAINI
Circular No.24/2012-Customs
F.No.450/180/2009-Cus.IV(Pt.)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
*****
Room No. 229-A, North Block,
NewDelhi,dated 5thSeptember, 2012.
To,
All Chief Commissioners of Customs
All Chief Commissioners of Central Excise and Service Tax
Subject:Making E-payment of Customs duty mandatory-regarding.
Sir / Madam,
Kind attention is invited to Board Circular No. 33/2011-Customs dated 29...
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Custom |
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Banking facilities to visually challenged / persons with disabilities
Posted Date : 06-Sep-2012 , 08:08:57 am | Posted By: CA. KRISHAN KUMAR SAINI
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir
Banking facilities to visually challenged / persons with disabilities
Please refer to ourCircular DBOD. No. Leg BC. 91 /09.07.005/2007-08 dated June 4, 2008on the captioned subject advising that all banking facilities such as cheque book facility including third party cheques, ATM facility, Net banking facility, locker facility, retail loans, credit cards etc., are invariably offered to visually challenged persons without any discrimin...
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RBI |
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Applicability of credit exposure norms for bonds guaranteed by the Government of India
Posted Date : 06-Sep-2012 , 08:05:41 am | Posted By: CA. KRISHAN KUMAR SAINI
All Standalone Primary Dealers
Dear Sir/Madam,
Applicability of credit exposure norms for bonds guaranteed by the Government of India
Please refer tocirculars IDMD.PDRD.No.19 /03.64.00 / 2010-11 dated July 27, 2010andIDMD.PCD.No.1652/14.03.05/2010-11 dated November 11, 2010wherein standalone Primary Dealers (PDs) were advised to adhere to the credit exposure limits of 25 per cent of their net owned funds (NOF) to single borrower and 40 per cent of their NOF to group borrowers.
2. The matte...
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RBI |
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Standardisation and Enhancement of Security Features in Cheque Forms-Migrating to CTS 2010 standards
Posted Date : 06-Sep-2012 , 08:03:48 am | Posted By: CA. KRISHAN KUMAR SAINI
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
Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 standards
A reference is invited to ourcircular DPSS.CO.CHD.No./1112/04.07.05/2011-12 dated December 27, 2011advising all banks providing cheque facility to their customers...
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RBI |
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Filling of Balance Sheet and Profit and Loss Account by companies in Non-XBRL for accounting year commencing on or after 01.04.2011.
Posted Date : 04-Sep-2012 , 05:01:37 pm | Posted By: CASANSAAR
Circular No. 28/2012 dated 03.09.2012Filling of Balance Sheet and Profit and Loss Account by companies in Non-XBRL for accounting year commencing on or after 01.04.2011.
Click here for Circular...
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Corporate Laws |
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Regarding clarifying the applicable rate of CVD on imported fertilizers
Posted Date : 31-Aug-2012 , 07:26:59 am | Posted By: CASANSAAR
Circular No. 23 /2012-Customs
F.No.354/35/2011-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
***
R.No.146 I, North Block
New Delhi, dated the 30thAugust, 2012
To
Chief Commissioner of Customs (All)
Chief Commissioner of Customs & Central Excise (All)
Director Generals (All)
Sir/Madam,
Subject:Applicable rate of CVD on imported Fertilizers-regarding.
Representations have been received from trade as well as the field formations r...
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Custom |
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Non-resident guarantee for non-fund based facilities entered between two resident entities
Posted Date : 31-Aug-2012 , 07:20:45 am | Posted By: CASANSAAR
RBI/2012-13/179A. P. (DIR Series) Circular No. 20
August 29, 2012
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Non-resident guarantee for non-fund based facilities entered between two resident entities
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited toNotification No. FEMA 29 / 2000-RB dated September 26, 2000viz. Payment to person resident outside India on invocation of guarantee,A.P. (DIR Series) Circular No. 28 dated March 30, 2001andA.P. (DI...
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FEMA |
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Issue of Indian Depository Receipts (IDRs) - Limited two way fungibilty
Posted Date : 29-Aug-2012 , 08:02:01 am | Posted By: CASANSAAR
RBI/2012-13/178A. P. (DIR Series) Circular No. 19
August 28, 2012
To,
All Category – I Authorised Dealer banks
Madam/Sir,
Issue of Indian Depository Receipts (IDRs) - Limited two way fungibilty
Attention of Authorised Dealers Category – I (AD Category - I) banks is invited toA.P. (DIR Series) Circular No.5 dated July 22, 2009, in terms of which, the guidelines regarding issue of IDRs by eligible companies resident outside India have been laid out.
2. It has now been decided to...
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FEMA |
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Constitution of a Committee for Reforming the Regulatory Environment for doing Business in India.
Posted Date : 28-Aug-2012 , 07:38:53 am | Posted By: CASANSAAR
General Circular no. 26/2012
No.11/08/2012-CL.V
Government of India
Ministry of Corporate Affairs’
Shastri Bhavan, New Delhi
Dated: 23rdAugust, 2012
OFFICE MEMORANDUM
Subject:-Constitution of a Committee for Reforming the RegulatoryEnvironment for doing Business in India.
The undersigned is directed to state as under:-
1. The report of The World Bank and the International Finance Corporation,entitled “Doing Business 2012: Doing business in a very TransparentWorld&r...
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Corporate Laws |
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Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)
Posted Date : 24-Aug-2012 , 08:11:48 am | Posted By: CASANSAAR
RBI/2012-13/175A. P. (DIR Series) Circular No. 18
August 23, 2012
To
All Authorised Persons, who are Indian agents underMoney Transfer Service Scheme
Madam / Sir,
Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)
Please refer to ourA.P. (DIR Series) Circular No. 108 dated April 17, 2012on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
...
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FEMA |
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Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Money changing activities
Posted Date : 24-Aug-2012 , 08:10:24 am | Posted By: CASANSAAR
RBI/2012-13/175A. P. (DIR Series) Circular No. 18
August 23, 2012
To
All Authorised Persons, who are Indian agents underMoney Transfer Service Scheme
Madam / Sir,
Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)
Please refer to ourA.P. (DIR Series) Circular No. 108 dated April 17, 2012on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2....
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FEMA |
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MCA:Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to \"The effects of Changes in Foreign Exchange Rates
Posted Date : 22-Aug-2012 , 09:23:30 am | Posted By: Akanksha Handa
Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to "The effects of Changes in Foreign Exchange Rates. CLICK TO SEE CIRCULAR...
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Corporate Laws |
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MCA:Gazette notification GSR 534(E) dated 14/07/2011-clarification regarding
Posted Date : 18-Aug-2012 , 08:58:17 am | Posted By: Akanksha Handa
Gazette notification GSR 534(E) dated 14/07/2011-clarification regarding . CLICK HERE TO SEE CIRCULAR...
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Corporate Laws |
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MCA:Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to \"The effects of Changes in Foreign Exchange Rates.
Posted Date : 18-Aug-2012 , 08:55:29 am | Posted By: Akanksha Handa
Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to "The effects of Changes in Foreign Exchange Rates. CLICK HERE TO SEE CIRCULAR...
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Corporate Laws |
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IT/ILT : Transfer Pricing - Tolerable limit of 5% maintained for Assessment Year 2012-13
Posted Date : 18-Aug-2012 , 07:31:53 am | Posted By: CASANSAAR
SECTION 92 OF THE INCOME-TAX ACT, 1961 - TRANSFER PRICING - COMPUTATION OF ARM'S LENGTH PRICE - NOTIFIED PERCENTAGE UNDER SECOND PROVISO TO SECTION 92C(2)
NOTIFICATION NO. 31/2012 [F.NO. 500/185/2011-FTD I], DATED 17-8-2012
In exercise of the powers conferred by the second proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that where the variation between the arm's length price determined under section 92C and the pr...
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Income Tax |
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ITR Scrutiny Of Small Tax Payers And Senior Citizen Only In The Case Of Credible Information
Posted Date : 17-Aug-2012 , 08:54:33 am | Posted By: Anjali Arora
No.402/92/2006-MC (07 of 2011)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
Streamlining procedure for scrutiny of income-tax returns
Scrutiny of income tax returns is an important mechanism for ensuring taxpayer compliance and to counter tax-evasion. However, it has evoked some concern from small taxpayers and senior citizens about prolonged enquiries. Concerns have also been raised about selection of the same cases in s...
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Income Tax |
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MCA:Applicability of Service Tax on commission payable to Non-Whole Time Directors of a company under section309(4) of the companies act,1956
Posted Date : 14-Aug-2012 , 09:10:22 am | Posted By: Akanksha Handa
Applicability of Service Tax on commission payable to Non-Whole Time Directors of a company under section309(4) of the companies act,1956. Kindly click to see circular...
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Corporate Laws |
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Amends in the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012- Customs, dated the 17th March, 2012
Posted Date : 13-Aug-2012 , 05:40:31 pm | Posted By: CA. SURESH Kr. AGARWAL
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 45 /2012-Customs
New Delhi, the 13th July, 2012
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs 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 the notification of the Government of India in the Ministry of Finance (Department of Revenue...
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Custom |
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Financial Inclusion- Access to Banking Services
Posted Date : 13-Aug-2012 , 05:37:42 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/164 DBOD.No. Leg. BC.35/09.07.005/2012-13
August 10, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir,
Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account
Please refer to paragraphs 88 and 89 of Monetary Policy Statement for the year 2012-13 announced on April 17, 2012.
2. Banks were advised in November 2005 to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balance as well...
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RBI |
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Issue of multicity / payable at all branches cheques by CBS enabled banks
Posted Date : 13-Aug-2012 , 05:37:08 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/163 DPSS.CO.CHD.No.274/03.01.02/2012-13
August 10, 2012
The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks
Madam / Dear Sir
Issue of multicity / payable at all branches cheques by CBS enabled banks
As you are aware, various Core Banking Solutions (CBS) implemented in banks marked a paradigm shift in Customer Services. Cus...
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RBI |
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Stipulation of compensation for delay in Clearance of Local Cheques
Posted Date : 13-Aug-2012 , 05:36:24 pm | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/165 DPSS.CO.CHD.No.284/03.06.03/2012-13
August 13, 2012
The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks
Madam / Dear Sir
Stipulation of compensation for delay in Clearance of Local Cheques
As you may be aware, banks are required to specify the time line for realisation of local and outstation cheques in their Cheque ...
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RBI |
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MCA: Product Group Classification
Posted Date : 09-Aug-2012 , 09:16:32 am | Posted By: Akanksha Handa
Product Group Classification. Kindly click to see the notification....
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Corporate Laws |
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MCA:Amendment to the Companies (Fees on Applications) Rules, 1999
Posted Date : 09-Aug-2012 , 09:06:10 am | Posted By: Akanksha Handa
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
NEW DELHI, the 7th
August, 2012
G.S.R. 617(E).- In exercise of the powers conferred by sub-section (1) of sectin 642, read with sub-section (2) of section 637A of the Companies Act, 1956 (1 of 1956), the Central Government hereby amends the notification of the Government of India in the erstwhile Ministry of Law, Just...
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Corporate Laws |
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SECTION 68 OF THE FINANCE ACT, 1994 - PAYMENT OF SERVICE TAX - SERVICE TAX PAYABLE ON SPECIFIED SERVICES - AMENDMENT IN NOTIFICATION NO. 30/2012-ST, DATED 20-6-2012
Posted Date : 08-Aug-2012 , 07:04:08 pm | Posted By: CASANSAAR
In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue),No. 30/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),videnumber G.S.R. 472 (E)...
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Service Tax |
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