Removal of limits on withdrawal of cash from Saving Bank Accounts - RBI
Posted Date : 09-Feb-2017 , 07:57:11 am | Posted By: CASANSAAR
RBI/2016-17/224
DCM (Plg) 3107/10.27.00/2016-17
February 08, 2017
All Banks
Dear Madam / Sir,
Removal of limits on withdrawal of cash from Saving Bank Accounts
Please refer to ourcircular DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017on the captioned subject.
2. In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts and withdrawa...
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RBI |
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Basel III Capital Regulations- Additional Tier 1 Capital
Posted Date : 03-Feb-2017 , 07:57:06 am | Posted By: CASANSAAR
RBI/2016-17/222
DBR.BP.BC.No.50/21.06.201/2016-17
February 02, 2017
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Madam/ Sir,
Basel III Capital Regulations- Additional Tier 1 Capital
Please refer to the paragraph 1.8 on ‘Coupon Discretion’ under Annex 4 on ‘'Criteria for Inclusion of Perpetual Debt Instruments (PDI) in Additional Tier 1 Capital' of theMaster Circular, DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015on ‘Basel I...
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RBI |
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Risk Management and Inter-bank Dealings: Permitting Non Resident Indians (NRIs) access to Exchange Traded Currency Derivatives (ETCD) market
Posted Date : 03-Feb-2017 , 07:56:14 am | Posted By: CASANSAAR
RBI/2016-17/221
A.P. (DIR Series) Circular No. 30
February 2, 2017
To
All Category – I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Permitting Non Resident Indians (NRIs) access to Exchange Traded Currency Derivatives (ETCD) market
Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notifi...
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FEMA |
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Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) - Compounding of Contraventions under FEMA, 1999
Posted Date : 03-Feb-2017 , 07:55:14 am | Posted By: CASANSAAR
RBI/2016-17/220
A.P. (DIR Series) Circular No. 29
February 02, 2017
To
All Category- I Authorised Dealer Banks
Madam / Sir,
Foreign Exchange Management Act, 1999 (FEMA)
Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) -
Compounding of Contraventions under FEMA, 1999
Attention of all the Authorised Dealer Category - I (AD Category - I) banks and their constituents is invited toA.P. (DIR Series) Circular No. 117and36dated April 4, 2014 and October 16, 2014 re...
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FEMA |
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Review of Guidelines on “Pricing of Credit”
Posted Date : 03-Feb-2017 , 07:54:17 am | Posted By: CASANSAAR
RBI/2016-17/219
DNBR.CC.PD.No. 084/22.10.038/2016-17
February 02, 2017
To
All NBFC-MFIs,
Madam/Sir,
Review of Guidelines on “Pricing of Credit”
As per extant instructions on “Pricing of Credit” issued to NBFC-MFIS under “Master Direction-Non-Banking Financial Company-Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016” and “Master Direction - Non-Banking Financial Company-Systemically Important Non-Dep...
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RBI |
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Certificate Of Incorporation Shall Mention PAN Of Company
Posted Date : 31-Jan-2017 , 09:32:17 am | Posted By: CASANSAAR
The Central Government has notified theCompanies (Incorporation) Amendment Rules, 2017. The rules came into forceon Monday. As per the new rules, the Certificate of Incorporation shall be issued by the Registrar in Form No. INC-11 and the Certificate of Incorporation shall mention the permanent account number (PAN) of the company, if it is issued by the Income Tax Department....
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Companies Act |
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Limits on Cash withdrawals from Bank accounts and ATMs - Restoration of status quo ante
Posted Date : 31-Jan-2017 , 08:55:41 am | Posted By: CASANSAAR
RBI/2016-17/217
DCM (Plg) No. 2905/10.27.00/2016-17
January 30, 2017
The Chairman / Managing Director / Chief Executive Officer,
Public Sector Banks / Private Sector Banks / Foreign Banks,
Regional Rural Banks / Urban Co-operative Banks,
State Co-operative Banks / District Central Co-operative Banks
Dear Sir/Madam,
Limits on Cash withdrawals from Bank accounts and ATMs - Restoration of status quo ante
Please refer to ourcircular DCM (Plg) No.1226/10.27.00/2016-17 dated Novembe...
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RBI |
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Guiding Principles for determination of Place of Effective Management (POEM) of a Company
Posted Date : 24-Jan-2017 , 10:34:39 pm | Posted By: CASANSAAR
Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated wholly in India. This allowed tax avoidance opportunities for companies to artificially escape the residential status under these provisions by shifting insignificant or isolated events related with control and manag...
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CBDT |
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CBDT rectifies mistakes in Circular related to TDS on Salary
Posted Date : 24-Jan-2017 , 10:08:34 pm | Posted By: CASANSAAR
F.No. 275/192/2016-IT (B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, New Delhi
24th January, 2017
CORRIGENDUM
Sub: Corrigendum to Circular No. 1/2017 dated 02.01.2017 on TDS under section 192 of Income-tax Act, 1961.
In para 3.6.1 in clause (a) below the table at page 4 of the captioned Circular, the words -3 years” appearing in line 1 may be read as “5 years”.
2. The table in para...
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CBDT |
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CBDT issues clarification on filing of SLPs / Appeals
Posted Date : 23-Jan-2017 , 10:27:27 pm | Posted By: CASANSAAR
FTS No. 279157/ITJ
Government of India
Ministry of Finance
Central Board of Direct Taxes
New Delhi, Dated 23rd January, 2017
Subject: Measures for reducing litigation- Clarification on Circulars 21/2015 and 8/2016 reg.
Instructions were issued vide CBDT Circular No. 21/2015 dated 10.12.2015, to the effect that appeals/SLPs should not be filed in cases where tax effect does not exceed the monetary limits specified under para 3 of the said Circular. It was also clarified therein that a...
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CBDT |
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Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
Posted Date : 23-Jan-2017 , 04:47:42 pm | Posted By: May I Help You.
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and penalty totaling in all to 49.9 per cent. of such declared income and make a mandatory deposit of not less than 25% of such income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.The...
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Income Tax |
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Enhancement of withdrawal limits from ATMs and Current Accounts - RBI
Posted Date : 17-Jan-2017 , 07:53:27 am | Posted By: CASANSAAR
RBI/2016-17/213
DCM (Plg) No.2559/10.27.00/2016-17
January 16, 2017
The Chairman / Managing Director / Chief Executive Officer,
Public Sector Banks / Private Sector Banks / Foreign Banks /
Regional Rural Banks / Urban Co-operative Banks /
State Co-operative Banks/District Central Co-operative Banks
Dear Sir,
Enhancement of withdrawal limits from ATMs and Current Accounts
Please refer to ourcirculars DCM (Plg) No. 1274,1317,1437and2142/10.27.00/2016-17dated November 14, 21 and ...
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RBI |
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Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
Posted Date : 13-Jan-2017 , 08:11:14 am | Posted By: CASANSAAR
RBI/2016-17/212
A.P. (DIR Series) Circular No. 27
January 12, 2017
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 05 dated October 06, 2016read with Section 5 and Section 10 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) da...
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Category :
FEMA |
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Extending the Single Window Interface for Facilitation of Trade (SWIFT) to Exports
Posted Date : 05-Jan-2017 , 08:33:00 am | Posted By: CASANSAAR
Kind reference is invited to Board's Circulars No. 03/2016 dated 03.02.2016 and No. 09/2015 dated 31.03.2015 regarding the Indian Customs Single Window(SWIFT).This project envisages that the importers and exporters would electronically lodge their Customs clearance documents at a single point only with the Customs. The required permission, if any, from other regulatory agencies would be obtained online without the importer/exporter having to separately approach these agencies. The Single Win...
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Category :
Custom |
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Exchange facility to foreign citizens - RBI
Posted Date : 04-Jan-2017 , 08:30:17 am | Posted By: CASANSAAR
RBI/2016-17/208
A.P. (DIR Series) Circular No. 24
January 03, 2017
To
All Authorised Persons
Madam / Sir,
Exchange facility to foreign citizens
Attention of Authorized Persons is invited to theA.P. (DIR Series) Circular No. 20 dated November 25, 2016permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 and extended up to December 31, 2016 videA.P. (DIR Series) Circular No. 22 dated December ...
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Category :
FEMA |
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Allocation of cash for rural areas - RBI
Posted Date : 04-Jan-2017 , 08:29:18 am | Posted By: CASANSAAR
RBI/2016-17/207
DCM (Plg) No.2200/10.27.00/2016-17
January 03, 2017
The Chairman / Managing Director/ Chief Executive Officer,
(All banks with currency chests)
Dear Sir / Madam
Allocation of cash for rural areas
Please refer to ourcirculars DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016andDCM (Plg) No.1508/10.27.00/2016-17 dated December 02, 2016on making cash available for rural areas.
2. On observing that bank notes, being supplied to rural areas, at present, ar...
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RBI |
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Facility for exchange of Specified Bank Notes (SBNs) during Grace Period
Posted Date : 02-Jan-2017 , 08:19:53 am | Posted By: CASANSAAR
RBI/2016-17/205
DCM (Plg) No.2170 /10.27.00/2016-17
December 31, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks
District Central Cooperative Banks
Dear Sir,
Facility for exchange of Specified Bank Notes (SBNs) during Grace Period – Verification of KYC and Account details
Please refer to theGoI Ordinance No. 10 of 2016 dated D...
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Category :
RBI |
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Cash withdrawal from ATMs – Enhancement of daily limits
Posted Date : 31-Dec-2016 , 08:14:51 am | Posted By: CASANSAAR
RBI/2016-17/204
DCM (Plg) No. 2142/10.27.00/2016-17
December 30, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks
District central Cooperative Banks
Dear Sir,
Cash withdrawal from ATMs – Enhancement of daily limits
Please refer t...
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RBI |
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Special measures to incentivise Electronic Payments – Extension of time
Posted Date : 31-Dec-2016 , 08:13:59 am | Posted By: CASANSAAR
RBI/2016-17/203
DPSS.CO.PD.No.1669/02.14.006/2016-2017
December 30, 2016
All Prepaid Payment Instrument Issuers
System Providers, System Participants
and all other Prospective Prepaid Payment Instrument Issuers
Dear Madam/ Sir,
Special measures to incentivise Electronic Payments – Extension of time
A reference is invited tocircular DPSS.CO.PD.No.1288/02.14.006/2016-17 dated Novem...
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RBI |
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White Label ATM Operators (WLAOs) - Sourcing of cash from retail outlets
Posted Date : 31-Dec-2016 , 08:13:08 am | Posted By: CASANSAAR
RBI/2016-17/202
DPSS.CO.PD. No.1621/02.10.002/2016-17
December 30, 2016
The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks /
Authorised ATM Network Operators /Card Payment Network Operators/
White Label ATM Operators
Dear Madam/ Sir,
White Label ATM Operators (WLAOs) - Sourcing of cash from retail outlets
Following the withdrawa...
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Category :
RBI |
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Closure of the scheme of exchange of Specified Bank Notes (SBNs) at banks on December 30th 2016- Accounting
Posted Date : 31-Dec-2016 , 08:12:18 am | Posted By: CASANSAAR
RBI/2016-17/201
DCM (Plg) No.2103/10.27.00/2016-17
December 30, 2016
The Chairman / Managing Director / Chief Executive Officer
Public Sector Banks / Private Sector Banks / Foreign Banks /
Regional Rural Banks / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-op Banks
Dear Sir,
Closure of the scheme of exchange of Specified Bank Notes (SBNs) at banks on December 30th 2016- Accounting
Please refer to Para 3 (C) of ourCircular DCM (Plg) No.1226/10.27.00...
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Category :
RBI |
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Last date of Dispute Resolution Extended to 31st January,2017
Posted Date : 30-Dec-2016 , 06:14:22 pm | Posted By: CASANSAAR
The Central board of Direct Taxes (CBDT) vide Notification No 124/2016 dated 29th December, 2016 extends the deadline for Direct Tax Dispute Resolution Scheme by one month i.e. from31st December, 2016 to 31st January, 2017....
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Category :
Income Tax |
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Sanction of Additional Working Capital Limits to Micro and Small Enterprises (MSEs)
Posted Date : 30-Dec-2016 , 08:00:42 am | Posted By: CASANSAAR
RBI/2016-17/200
FIDD.MSME & NFS.BC.No.20/06.02.31/2016-17
December 29, 2016
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir / Madam,
Sanction of Additional Working Capital Limits to Micro and Small Enterprises (MSEs)
Please refer to ourcircular FIDD.MSME & NFS.BC.No.60/06.02.31/2015-16 dated August 27, 2015on ‘Streamlining flow of credit to Micro and Small Enterprises (MSEs) for facilitating timely and adequate credit flow during their &lsq...
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Category :
RBI |
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Introduction of Interest Rate Options in India
Posted Date : 30-Dec-2016 , 07:59:55 am | Posted By: CASANSAAR
RBI/2016-17/199
FMRD.DIRD.12/14.01.011/2016-17
December 29, 2016
To
All eligible market participants
Dear Sir/Madam
Introduction of Interest Rate Options in India
As announced in thefourth bi-monthly Monetary Policy Statement 2016-17, it has been decided to introduce Interest Rate Options in India.
2. The Reserve Bank of India has accordingly issued aNotification No. FMRD.DIRD. 11/...
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RBI |
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Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Posted Date : 29-Dec-2016 , 08:31:43 am | Posted By: CASANSAAR
RBI/2016-17/198
DBR.No.BP.BC.49/21.04.048/2016-17
December 28, 2016
All Regulated Entities
Madam / Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Please refer tocircular DBR.No.BP.BC.37/21.04.048/2016-17 dated November 21, 2016.
2. On a review, it has been decided to:
(i) Provide 30 days, in addition to the 60 days provided vide the abovementioned circular, in the following categories of loans:
(a) Running w...
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Category :
RBI |
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Companies (removal of names of companies from the Register of Companies) Rules 2016
Posted Date : 29-Dec-2016 , 08:30:22 am | Posted By: CASANSAAR
Companies (removal of names of companies from the Register of Companies) Rules 2016 Dated 26.12.2016.
CLICK HERE...
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Category :
Companies Act |
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Commencment of sections 248 to 252 of Companies Act, 2013
Posted Date : 29-Dec-2016 , 08:26:43 am | Posted By: CASANSAAR
Commencment of sections 248 to 252 of Companies Act, 2013 effective from 26-12-2016....
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Category :
Companies Act |
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Govt. hikes threshold limit of salary from Rs 15000 to Rs 21000 for ESI applicability
Posted Date : 28-Dec-2016 , 08:23:44 am | Posted By: CASANSAAR
Whereas certain draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (i) vide number G.S.R. 957(E), dated the 6th October, 2016, as required by sub-section (1) of section 95 of the Employees’ State Insurance Act, 1948 (34 of 1948), inviting objections and suggestions from all persons likely to be affected thereby before the expiry of a period of thirty days from the dat...
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Category :
Corporate Laws |
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CBDT releases explanatory notes on provisions of PMGKY
Posted Date : 28-Dec-2016 , 07:56:01 am | Posted By: CASANSAAR
The Taxation Laws (Second Amendment) Act, 2016 has been enacted by Parliament on 15.12.2016. The said Act has inter alia amended the provisions of Finance Act, 2016 and inserted a new Chapter on, ‘The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) in the Finance Act, 2016....
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CBDT |
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Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India
Posted Date : 28-Dec-2016 , 07:52:42 am | Posted By: CASANSAAR
RBI/2016-17/197
A.P. (DIR Series) Circular No.23
December 27, 2016
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (the Princi...
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Category :
FEMA |
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