F. No. 225/242/2018/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA.II division) North-Block, New Delhi, the 26th July, 2018 Order under Section 119 of the Income-tax Act, 1961 For certain categories of taxpayers, the ‘due-date’ of filing income-tax return for assessment-year 2018-2019 is 31.07.2018. Upon consideration of the matter, the Central Board of Direct Taxes, in exercise of its powers under section 11...

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RBI/2018-19/24 FMRD.DIRD.01/14.03.038/2018-19 July 24, 2018 To All participants in repo markets Dear Sir/Madam Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 Please refer to Paragraph 5 of thestatement on Developmental and Regulatory Policies, Reserve Bank of India issued as part of thesixth Bi-monthly Monetary Policy Statement for 2017-18 dated February 07, 2018regarding issuance of comprehensive repo directions. 2. The draft directions were released for pu...

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RBI/2018-19/26 FMRD.DIRD.05/14.03.007/2018-19 July 25, 2018 All participants in Central Government securities market Madam/Sir, Secondary Market Transactions in Government Securities – Short Selling TheStatement on Developmental and Regulatory Policies released by RBI on June 06, 2018proposed to liberalise the eligible short sale participant base and increase the entity-wise and security category-wise (liquid/other securities) limits for short selling in Government Securiti...

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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Notification No.33/2018, Dated: July 20, 2018 G.S.R. 666(E).– In exercise of the powers conferred bysection 44ABread with section 295 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act), 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 call...

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RBI/2018-19/22 DGBA.GBD.123/15.02.005/2018-19 July 19, 2018 The Chairman/Chief Executive Officer Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to ourcircular DGBA.GBD.2573/15.02.005/2017-18 dated April 12, 2018on the above subject. The Government of India, has vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated July 2, 2018 has stated that the interest rates on Small Savings Schemes for the second quarte...

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Section 21 (6A) (b) of the Insolvency and Bankruptcy Code, 2016 (Code) read with regulation 16A (1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (Regulations) provide that where the corporate debtor has at least ten financial creditors in a class, the interim resolution professional shall offer a choice of three insolvency professionals and a creditor in the class may indicate its choice of an insolvency professional, fro...

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Category : Corporate Laws | Comments : 0 | Hits : 1820

GOVERNMENT OF INDIA MINISTRY OF LAW AND JUSTICE DEPARTMENT OF LEGAL AFFAIRS **** CIRCULAR Subject: Applications for appointment to the posts of Member (Judicial/ Accountant), Income Tax Appellate Tribunal. **** In exercise of the powers conferred by section 252 of the Income-Tax Act, 1961, the Central Government has constituted the Income Tax Appellate Tribunal to hear appeals against the orders passed by various authorities stated in section 253 of the Act. 2. Applications a...

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RBI/2018-19/16 DGBA.GBD.No.87/31.02.007/2018-19 July 12, 2018 All Agency Banks Dear Sir Period for Submission of Agency Commission Claims Please refer to ourcircular no.DGBA.GBD.N0.3262/31.02.007/2016-17 dated June 15, 2017through which all agency banks were advised to submit their agency commission claims to the Reserve Bank of India within 90 days from the end of the quarter during which the trans...

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RBI/2018-19/15 FIDD.CO.Plan.BC 07/04.09.01/2018-19 July 12, 2018 The Chairman/ Managing Director Chief Executive Officer [All Domestic Scheduled Commercial Banks (excluding Regional Rural Banks and Small Finance Banks)] Dear Sir/ Madam, Priority Sector Lending - Targets and Classification: Lending to non-corporate farmers – System wide average of last three years Please re...

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RBI/2018-19/14 DBR.AML.BC.No.210/14.01.001/2018-19 July 12, 2018 The Chairperson/CEOs of all Scheduled Commercial Banks including Regional Rural Banks/Urban Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks/Local Area Banks/Small Finance Banks/Payment Banks Dear Sir/Madam, Incorporation of Name of the Purchaser on the Face of the Demand Draft In or...

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Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated 05.07.2018 G.S.R.(E).—In exercise of the powers conferred by sections 396,398,399, 403 and 404 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend theCompanies (Registration Offices and Fees) Rules, 2014, namely:- 1. (1) These rules may be called the Companies (Registration Offices and ...

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Category : Companies Act | Comments : 0 | Hits : 2013

G.S.R. 569(E).—In exercise of the powers conferred by clause (a) of sub-section (1) of section 642 of the Companies Act, 1956 (1 of 1956) read with section 210A and sub-section (3C) of section 211 and of the said Act, the Central Government, in consultation with National Advisory Committee on Accounting Standards, hereby makes the following rules to amend the Companies (Accounting Standards) Rules, 2006, namely:...

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Category : Companies Act | Comments : 0 | Hits : 1986

G.S.R……(E).- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-...

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RBI/2018-19/12 DCBR.BPD.(PCB/RCB)Cir.No.1/16.20.000/2018-19 July 6, 2018 The Chief Executive Officer All Primary (Urban) Co-operative Banks / All State Co-operative Banks / All District Central Co-operative Banks Dear Sir/Madam, Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuat...

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RBI/2018-19/11 DCM (CC) No.G-4/03.44.01/2018–19 July 3, 2018 The Chairman & Managing Director Chief Executive Officers All Banks Madam / Dear Sir, Master Circular – Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public Please refer to theCircular DCM (CC) No.G-3/03.44.01/2017-18 dated October 12, 2017on the sch...

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RBI/2018-19/10 FIDD.CO.FSD.BC.No.6/05.05.010/2018-19 July 4, 2018 The Chairman / Managing Director /Chief Executive Officer All Scheduled Commercial Banks (including Small Finance Banks and excluding RRBs) Madam/Sir, Master Circular - Kisan Credit Card (KCC) Scheme The Reserve Bank of India has issued guidelines on Kisan Credit Card (KCC) scheme from time to time. ThisMaster Circularconsolidates the relevant guidelines issued by the Bank on Kisan Credit Card scheme upto June 30,...

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RBI/2018-19/9 FIDD.GSSD.CO.BC.No.05/09.01.01/2018-19 July 03, 2018 The Chairman/ Managing Director & CEO All Scheduled Commercial Banks and Small Finance Banks Dear Sir/Madam, Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) Please refer to theMaster Circular FIDD.GSSD.CO.BC.No.04/09.01.01/2017-18 dated July 01, 2017consolidating guidelines / instructions / directions issued to banks with regard to Deendayal Antyodaya Yojana ...

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RBI/2018-19/8 FIDD.GSSD.BC.No.01/09.10.01/2018-19 July 02, 2018 The Chairman/ Managing Director/ Chief Executive Officer All Scheduled Commercial Banks & Small Finance Banks (Excluding RRBs and Foreign banks with less than 20 branches) Dear Sir / Madam, Master Circular- Credit Facilities to Minority Communities Please refer to ourMaster Circular FIDD.GSSD.BC.No.05/09.10.01/2017-18 dated July 01, 2017, consolidating the instructions / guidelines / directives issued to banks ...

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RBI/2018-19/07 FIDD.FID.BC.No.04/12.01.033/2018-19 July 02, 2018 The Chairman/ Managing Director/ Chief Executive Officer All Scheduled Commercial Banks Madam/ Dear Sir Master Circular on SHG-Bank Linkage Programme The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions to banks on SHG-Bank Linkage Programme. In order to enable banks to have instructions at one place, the Master Circular incorporating the existing guidelines/instructions on ...

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RBI/2018-19/5 FIDD.CO.LBS.BC.No.2/02.01.001/2018-19 July 2, 2018 The Chairmen and Managing Directors/Chief Executive Officers SLBC Convenor Banks/Lead Banks Dear Sir/Madam MASTER CIRCULAR – Lead Bank Scheme The Reserve Bank of India has issued a number of guidelines/instructions on Lead Bank Scheme from time to time. ThisMaster Circularconsolidates the relevant guidelines/instructions issued by Reserve Bank of India on Lead Bank Scheme up to June 30, 2018 as listed in the ...

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RBI/2018-19/04 DCM(FNVD)G – 1/16.01.05/2018-19 July 2, 2018 The Chairman/ Managing Director /Chief Executive Officer All Banks and Director of Treasuries of all States Dear Sir / Madam, Master Circular – Detection and Impounding of Counterfeit Notes Please refer to theMaster Circular DCM(FNVD)G - 4/16.01.05/2017-18 dated July 20, 2017consolidating the instructions issued till July 20, 2017, relating to Detection and Impounding of Counterfeit Notes. TheMaster Circula...

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RBI/2018-19/3 DCM (NE) No.G-2/08.07.18/2018-19 July 02, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Madam / Dear Sir Master Circular – Facility for Exchange of Notes and Coins Please refer to theMaster Circular DCM (NE) No.G-1/08.07.18/2017-18 dated July 03, 2017containing instructions on the facility for exchange of notes and coins. A revised version of Master Circular on the subject isannexedfor your informatio...

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RBI/2018-19/2 DGBA.GBD.No.2/31.12.010/2018-19 July 2, 2018 All Agency Banks Dear Sir / Madam Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission Please refer to ourMaster Circular RBI/2017-18/2 dated July 1, 2017on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the subject issued by the Reserve Bank of India till June 30, 2018. 2. A copy of the revisedMaster Circul...

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RBI/2018-19/1 DGBA.GBD.No.-1/31.02.007/2018-19 July 2, 2018 All Agency Banks Dear Sir/Madam Master Circular - Disbursement of Government Pension by Agency Banks Please refer to ourMaster Circular RBI/2017-18/1 dated July 1, 2017on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the subject issued by the Reserve Bank of India till Ju...

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F.No.225/270/2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, dated the 30th of June, 2018 Order under Section 119 of the Income-tax Act, 1961 Vide its orders dated 31.07.17, 31.08.17, 08.12.17 & 27.03.18, in file of even number, CBDT had allowed time till 30th June, 2018 to link PAN with Aadhaar while filing the tax-returns. Upon consideration of the matter, the CBDT further extend...

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Category : Income Tax | Comments : 0 | Hits : 1224

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 12/2018–Central Tax (Rate) New Delhi, the 29th June, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes th...

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Category : GST | Comments : 0 | Hits : 1190

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No.13/2018 – Integrated Tax (Rate) New Delhi, the 29th June, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby ma...

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Category : GST | Comments : 0 | Hits : 1188

Statutory Auditors (SAs) of banks play an important role in contributing to financial stability when they deliver quality bank audits which foster market confidence in banks’ financial statements. Quality bank audits are also a valuable input in the supervisory process of the Reserve Bank of India (RBI) for commercial banks. 2. In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of SAs in a consistent manner, it has...

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RBI/2017-18/205 DGBA.GBD.No.3214/45.01.001/2017-18 June 21, 2018 All Agency Banks (dealing with pension payments) Dear Sir / Madam Customer Service provided by agency banks Please refer to our circular no.DGBA.GAD.H-3085/45.01.001/2008-09 dated October 1, 2008 on the captioned subject. 2. We are receiving complaints from various quarters that pensioners are not being treated with due consideration by bank officials, specifically the old pensioners, when they come to the branch...

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RBI/2017-18/206 DBS(CO).CSITE/BC.5/31.01.015/2017-18 June 21, 2018 To The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) All Small Finance Banks and Payment Banks White-Label ATM Operators...

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Category : RBI | Comments : 0 | Hits : 1301