GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 42/2017 New Delhi, dated the, 2nd June 2017 INCOME-TAX G.S.R 546(E).—In exercise of the powers conferred by 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 (10th Amendmen...

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Category : Income Tax | Comments : 0 | Hits : 1176

RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17 June 01, 2017 To All eligible participants in the OTC derivatives markets Dear Sir/Madam Introduction of Legal Entity Identifier for OTC derivatives markets The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned to entities who a...

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Category : RBI | Comments : 0 | Hits : 985

- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, 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) No. 73/2006-Customs dated 10th July, 2006, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G. S. R. 4...

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Category : Custom | Comments : 0 | Hits : 1160

Delcaration in form 15G/15H to be furnished to the deductor / payer for each financial year - notification no. 06/2017, dated 30/05/2017...

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Category : CBDT | Comments : 0 | Hits : 1503

The present system for allotment of'Rotation Number' for vessels has been reviewed. Under the present process for the allotment of 'Rotation Number' for a vessel that calls on a port, the concerned Shipping Line or Shipping Agent (SL/SA) must file an application with the designated section in the Custom House, along with the desired particulars in the prescribed format. After confirmation of the particulars, the designated official who is assigned the appropriate role on the Indi...

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Category : Custom | Comments : 0 | Hits : 1202

A reference is invited to ourcircular IDMD.CDD.No. 3031/13.01.299/2016-17 dated May 25, 2017on the captioned subject. 2. It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI. As RBI too, consolidates and submits this information to IT Department, and in order to avoid the duplication of data relating to Savings Bonds, Agency banks/SHCIL may henceforth ensure that the re...

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Category : RBI | Comments : 0 | Hits : 995

General Circular No. 06/2017 No.11/06/2017-IEPF Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri Bhawan, Dr. R.P. Road New Delhi-110001 Dated: 29.05.2017 To All Stakeholders, Nodal Officer’s (IEPF) of Concerned Companies All Regional Director’s & Registrar of Companies of Min of Corp. Affairs Subject: Clarification regarding due date of transfer of shares to IEPF Authority Sir/ Madam, Pursuant to second provi...

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Category : Companies Act | Comments : 0 | Hits : 992

CIRCULAR No. 18/2017 F. No. 385/01/2015-IT (B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 29th May, 2017 Subject: Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-tax Act, 1961 – Exemption thereof. The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 and Circular No. 7/2015 dated ...

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Category : CBDT | Comments : 0 | Hits : 7412

F.No. DGIT(S)/CPC(TDS)/NOTIFICATION/2017-18 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 5/2017 New Delhi, 29 May, 2017 Subject: – TDS and filing of ITR in case both the parents are dead of minor –reg. It has been brought to the notice of CBDT that in cases of minors whose both the parents have deceased, TDS deductors/Banks are clubbing the interest income accrued to the min...

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Category : CBDT | Comments : 0 | Hits : 1269

I am directed to invite your attention to Circular No. 5/2017-Cus dated 28.2.2017, wherein exporters who have been accorded Authorized Economic Operator (AEO) certificate (Tier II & Tier III) in terms of Circular No. 33/2016-Customs dated 22.07.2016 have been exempted from the requirements of drawal of samples for the purpose of grant of drawback, except in case of any specific information or intelligence....

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Category : GST | Comments : 0 | Hits : 967

I am directed to invite your attention to Circular No. 5/2017-Cus dated 28.2.2017, wherein exporters who have been accorded Authorized Economic Operator (AEO) certificate (Tier II & Tier III) in terms of Circular No. 33/2016-Customs dated 22.07.2016 have been exempted from the requirements of drawal of samples for the purpose of grant of drawback, except in case of any specific information or intelligence. 2. In continuation of above mentioned Circular, and as a measure of further facilitat...

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Category : Custom | Comments : 0 | Hits : 1091

(1) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “listing regulations”) place obligations with respect to Scheme of Arrangement on Listed Entities and Stock Exchange(s) in Regulation 11, 37 and 94. (2) Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957 (hereinafter referred to as “the SCRR”) gives power to Securities and Exchange Board of India (SEBI) to relax provision of Rule 19 at its di...

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Category : SEBI | Comments : 0 | Hits : 925

Please refer to ourCircular FIDD. CO. FSD. BC. No 9/05.02.001/2016-17 dated August 4, 2016on Interest Subvention Scheme for Short-term Crop Loans 2016-17 wherein we had advised the continuation and implementation of the Interest Subvention Scheme for the year 2016-17. As regards the Scheme for the year 2017-18, Ministry of Agriculture & Farmers Welfare, Government of India (GoI) has informed that they have initiated the process for continuation of the Interest Subvention Scheme. 2. In view ...

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Category : RBI | Comments : 0 | Hits : 870

Pleaserefer to letter DGBA.CDD.13.01.299/H – 739 – 768/2005-06 dated August 5, 2005on the captioned subject. 2. You have been authorized to issue Savings Bonds Notified by the Government of India on behalf of Reserve Bank of India. In this connection, you may be aware that the offices accepting deposits under these schemes are required to furnish Annual Information Return as contemplated in Section 285 BA of the Income Tax Act, 1961read with Rule 114E of the Income Tax Rules, 1962 t...

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Category : RBI | Comments : 0 | Hits : 966

The Government of Arunachal Pradesh vide Gazette Notification dated March 3, 2014 had notified the creation of four new districts in the State of Arunachal Pradesh. It has been decided to assign the lead bank responsibility of the new districts to State Bank of India as detailed below:- Sr No Newly carved district Erstwhile District Administrative units under the newly created district Lead Bank Responsibility assigned to District Working Code allotted to new district 1 Kurung ...

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Category : RBI | Comments : 0 | Hits : 828

Please refer to ourcircular UBD.CO.BPD.PCB.Cir.No.65/09.69.000/2013-14 dated May 27, 2014permitting the UCBs which have installed ATMs and issued ATM cum Debit cards to introduce semi-closed Prepaid Payment Instruments (PPIs) for payment of utility bills / essential services upto a limit of Rs.10,000/-. 2. The matter has been revisited and it has now been decided to permit all licenced co-operative banks having their own ATM network to issue semi-closed PPIs, provided there are no restrictions ...

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Category : RBI | Comments : 0 | Hits : 855

1. SEBI has notified the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 on March 06, 2017 to enable digital mode of payment (RTGS/NEFT/IMPS etc.) of fees/penalties/remittance/other payments etc. 2. Pursuant to above, SEBI has been receiving direct credit of amounts from various intermediaries / other entities. 3. In order to identify and account such direct credit in the SEBI account, it has been decided that the various intermediaries / other entities shall provide t...

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Category : SEBI | Comments : 0 | Hits : 931

Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 were notified on March 27, 2015, which came into force on April 01, 2015 wherein currency derivatives were specified as permissible securities in which dealing may be permitted by stock exchanges in IFSC. 2. It has been decided that for cross-currency futures and options contracts (not involving Indian Rupee), the position limits for eligible market participants, per currency pair per stock exchan...

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Category : SEBI | Comments : 0 | Hits : 900

RBI/2016-17/306 DBR.No.BAPD.BC.69/22.01.001/2016-17 May 18, 2017 The Chairman and Managing Director/Chief Executive Officer All Domestic Scheduled Commercial Banks (Excluding Regional Rural Banks), Small Finance Banks, Payment Banks and Local Area Banks Madam/Dear Sir, Rationalisation of Branch Authorisation Policy- Revision of Guidelines Please refer to the paragraph 11 on ‘Banking Outlets – Final Guidelines’ (extract enclosed) of the Statement on Developmen...

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Category : RBI | Comments : 0 | Hits : 992

RBI/2016-17/305 DBR.No.BP.BC.70/21.04.142/2016-17 May 18, 2017 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Partial Credit Enhancement to Corporate Bonds Please refer to paragraph 21 (a) of the Guidelines on Partial Credit Enhancement to Corporate Bonds by Banks annexed to thecircular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015, on the capital requirements during the lifetime of the bond in respect of which partial credit enhance...

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Category : RBI | Comments : 0 | Hits : 894

RBI/2016-17/304 DBR.Appt.No.BC.68/29.67.001/2016-17 May 18, 2017 All Scheduled Commercial Banks (excluding RRBs) Madam/ Dear Sir, Minimum qualifications and experience for CFO and CTO Rapid innovations in banking and technology call for better risk governance in the areas of finance and technology. A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk ...

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Whereas in the matter of „Aluminium Foil‟ (hereinafter referred to as the subject goods) falling under chapter heading 7607 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in, or exported from China PR (hereinafter referred to as the subject country), and imported into India, the designated authority in its final findings vide notification number 14/06/2015-DGAD, dated the 10th March, 2017, published in t...

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Category : Custom | Comments : 0 | Hits : 1142

Clarification regarding applicability of section 16(1)(a) of the CA 2013 with reference to cases under corresponding provisions of Companies Act, 1956...

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Category : Companies Act | Comments : 0 | Hits : 1123

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th May, 2017 G.S.R. 460(E).— In exercise of the powers conferred by sub-section (1) of section 11, read with clause (c) of the proviso to section 5, of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017), the Central Government hereby makes the following rules, namely:— 1. Short title and commencement.— (1) These rules may be called the Specified Bank Notes (D...

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Category : RBI | Comments : 0 | Hits : 1184

RBI/2016-17/302 Ref: DBR.CO.No.Ret.BC/66/12.07.144/2016-17 May 11, 2017 The Chairperson All RRBs Madam/Dear Sir, Submission of Statutory returns (SLR-Form VIII) in XBRL platform It has been decided to move the reporting of SLR from PCRPCD to XBRL (Extensible Business Reporting Language) platform. You are therefore advised to submit the returns (Form VIII) in XBRL from the month of April 2017. Yours faithfully, (S K Kar) Chief General Manager...

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Category : RBI | Comments : 0 | Hits : 1000

RBI/2016-17/300 DPSS (CO) EPPD No.2612/04.03.01/2016-17 May 08, 2017 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NEFT Madam / Sir, National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals National Electronic Funds Transfer (NEFT) system presently settles the fund transfer requests of the participating banks on net basis at hourly intervals from 8:00 am to 7:00 pm on all working days. All partic...

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Category : RBI | Comments : 0 | Hits : 1193

RBI/2016-17/299 DBR.BP.BC.No.67/21.04.048/2016-17 May 5, 2017 The Chairman and Managing Director/Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam/Dear Sir, Timelines for Stressed Assets Resolution Please refer to thecircular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014on “Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corr...

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Category : RBI | Comments : 0 | Hits : 1036

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.40/2017-CUSTOMS (N.T.), dated 20th April, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II anne...

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Category : Custom | Comments : 0 | Hits : 1175

- In exercise of the powers conferred by sub-section (1) of section 93 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 further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.25/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S...

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Category : Service Tax | Comments : 0 | Hits : 1291

Please refer to SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated 18 March 2016. 2. In partial modification of the above mentioned circular, para C of the circular pertaining to disclosure of executive remuneration shall read as under: “With the underlying objective to promote transparency in remuneration policies so that executive remuneration is aligned with the interest of investors, MFs/AMCs shall make the following disclosures pertaining to a financial year on the MF/AMC website...

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Category : SEBI | Comments : 0 | Hits : 946