RBI/2016-17/131 DCM (Plg) No. 1274/10.27.00/2016-17 November 14, 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 Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of Specified Bank Notes – Expanding the distribution locations for deposit and withdrawal of cash Please refer to ourCircular No. ...

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RBI/2016-17/130 DCM (Plg) No.1273/10.27.00/2016-17 November 14, 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 Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability of the Scheme to DCCBs Please refer to ourCircular No. DCM (Plg) No....

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RBI/2016-17/127 A.P. (DIR Series) Circular No. 17 November 11, 2016 To All Authorised Persons Madam / Sir, Issue of Pre-Paid Instruments to foreign tourists Attention of Authorised Persons is invited to theA.P. (DIR Series) Circular No. 16 dated November 9, 2016on Withdrawal of the legal tender character of the existing and any older series banknotes in the denominations of ₹ 500 and ₹ 1000. 2. The circular inter alia instructs Authorized Persons to facilitate exchange ...

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RBI/2016-17/125 DCM (Plg) No.1264/10.27.00/2016-17 November 11, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Reporting and Monitoring Please refer to Para 4 (Reporting Mechanism) of DCM, COCircular DCM (Plg) No.1226/10.27.00/2016-17 da...

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RBI/2016-17/124 DCM (Plg) No.1256/10.27.00/2016-17 November 11, 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 Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash Please refer to ourcircular DCM (Plg) No.1251/10.27.00/2016-17 November 10, 2016on the capti...

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RBI/2016-17/123 DCM (Plg) No.1251/10.27.00/2016-17 November 10, 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 Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash Please refer to ourcircular DCM (Plg) No.1226/10.27.00/2016-17 November 08, 2016. 2. In t...

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RBI/2016-17/122 DBR.No.BP.BC.34/21.04.132/2016-17 November 10, 2016 All Scheduled Commercial Banks (Excluding RRBs), All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Non-Banking Financial Companies, including Securitisation Companies/ Reconstruction Companies Madam / Dear Sir, Schemes for Stressed Assets - Revisions In the recent past, the Reserve Bank of India has taken various regulatory measures to strengthen the lenders’ abilit...

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RBI/2016-17/121 DBR.No.BP.BC.33/21.04.132/2016-17 November 10, 2016 All Scheduled Commercial Banks (Excluding RRBs), All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Non-Banking Financial Companies, including Securitisation Companies/ Reconstruction Companies Madam / Dear Sir, Scheme for Sustainable Structuring of Stressed Assets - Revisions We invite a reference to the paragraph 6 of the Statement on Developmental and Regulatory Policie...

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RBI/2016-17/120 DBR.No.BP.BC.30/21.06.201/2016-17 November 10, 2016 The Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Guidelines on capital requirements for bank exposures to central counterparties Please refer to the paragraph 4 ofStatement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was indicated therein that RBI will issue final guidelines on capital requirements...

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RBI/2016-17/119 DBR.No.BP.BC.29/21.06.201/2016-17 November 10, 2016 The Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Guidelines for computing exposure for counterparty credit risk arising from derivative transactions Please refer to the paragraph 4 of theStatement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was indicated therein that RBI will issue final guideli...

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RBI/2016-17/118 DBR.IBD.BC.32/23.13.004/2016-17 November 10, 2016 Chairman/Managing Director and CEOs All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to ourcircular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015setting out RBI directions relating to IFSC Banking Units (IBUs). We have received a few suggestions and queries during the last few months refle...

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RBI/2016-17/116 DPSS (CO) RTGS No.1212/04.04.002/2016-17 November 10, 2016 The Chairman / Managing Director and Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Small Finance Banks / Regional Rural Banks / Local Area Banks All Cooperative Banks Dear Sir, Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) to remain open on Saturday, November 12 and Sunday, November 13, 2016 Consequent to the banks being open for public ...

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RBI/2016-17/117 FMOD.MAOG.No.116/01.01.001/2016-17 November 10, 2016 All Scheduled Commercial Banks (Excluding Regional Rural Banks), Scheduled Urban Co-operative Banks and Standalone Primary Dealers Dear Sir/Madam, Repo / Reverse Repo Transactions with RBI Please refer tocircular No. FMRD.DIRD.10/14.03.002/2015-16 dated May 19, 2016, on the captioned subject. 2. In thi...

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Attention is drawn to Ministry’s Circular Nos.43/2016-Customs dated 31.08.2016 and 47/2016-Customs dated 20.10.2016 regarding implementation of the Scheme for Rebate of State Levies on Export of Garments, 2016 (ROSL Scheme) notified by the Ministry of Textiles...

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RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 November 09, 2016 To All Authorised Persons Madam / Sir, Withdrawal of the legal tender character of the existing and any older series banknotes in the denominations of ₹ 500 and ₹ 1000 1. Attention of Authorised Persons is invited to the Government of India Notification published in the Gazette of India vide S.O.3408(E) dated Nov...

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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 103/2016 New Delhi, the 7th November, 2016 Income Tax S.O. 3399(E).-In exercise of the powers conferred by section 32, section 115BA and 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) These rules may be called the Income-tax (29th Amendme...

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Circular No. 1050/38/2016-CX F.No. 207/0512014-CX.6 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs North Block, New Delhi Dated the 8th of November, 2016 To, The Principal Chief Commissioners/ Chief Commissioners of Central Excise (All) The Principal Chief Commissioners/ Chief Commissioners of Central Excise and Service Tax (All) The Principal Chief Commissioners/ Chief Commissioners of Service Tax (All) The Principal ...

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G.S.R.......(E).-In exercise of thc powers conferred bv section 396, 398,399,403 and 404 read with sub-section (l) and (2)of section 469 of the Companies Act 2013, the Central Government hereby makes the rules further to amend the Companies (Registered Offices and Fess) Rules 2014, namely :- ...

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RBI/2016-17/112 DCM (Plg) No.1226/10.27.00/2016-17 November 08, 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 Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, ₹ 500 and ₹ 1000 denomination...

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RBI/2016-17/111 DPSS.CO.PD.No./02.10.002/2016-2017 November 8, 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 Madam / Sir, ATMs –Non-dispensing of Old High Denomination Notes – Closure of operations The Government of In...

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RBI/2016-17/110 A.P. (DIR Series) Circular No. 15 November 07, 2016 To All Category-I Authorised Dealer Banks Madam / Dear Sir External Commercial Borrowings (ECB) – Clarifications on hedging Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.i and 3 ofA.P. (DIR Series) Circular No.56 dated March 30, 2016and paragraph no. 2.5 ofMaster Direction No.5 dated January 1, 2016on ‘External Commercial Borrowings, Trade Credit, Borrowin...

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RBI/2016-17/107 A.P. (DIR Series) Circular No. 14 November 03, 2016 To All Category-I Authorised Dealer Banks Madam / Dear Sir Issuance of Rupee denominated bonds overseas by Indian banks Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the measures announced by the Reserve Bank on August 25, 2016 for development of Fixed Income and Currency Markets in India which, inter alia, proposed to permit banks to issue Rupee Denominated Bonds overseas f...

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RBI/2016-17/106 DCM (CC) No.1170/03.41.01/2016-17 November 02, 2016 The Chairman & Managing Director / Chief Executive Officer, All Banks Madam / Dear Sir, Dispensation of Rs.100 denomination banknotes through exclusive ATMs Please refer to ourcircular DCM (CC) G-10/3352/03.41.01/2015-16 dated May 5, 2016on the Currency Circulation and Exchange Scheme (CDES). 2. A review of steps taken by banks for installing ATMs dispensing lower denomination banknotes was conducted and...

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F.No.279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Circular No. 37/2016- Income Tax, Dated: November 2, 2016 Subject: Chapter VI-A deduction on enhanced profits – Reg. Chapter VI-A of the Income-tax Act, 1961 (“the Act”), provides for deductions in respect of certain incomes. In computing the profits and gains of a business activity, the Assessing Officer may make certa...

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General Circular No. 12/2016 F. No. MCA 21/153/2012-E-Gov Cell Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-1 Dated: 27.10.2016 To The Regional Directors, All Registrar of Companies All Stakeholders Subject: Relaxation of additional fee and extension of last date of in filing AOC-4, AOC-4 (XBRL) AOC-4 (CFS) and MGT-7 e-forms under the Companies Act, 2013-regarding Sir, In...

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Category : Companies Act | Comments : 0 | Hits : 1025

G.S.R. 1004(E).—In exercise of the powers conferred by section 68 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), the Central Government hereby makes the following rules, namely:-...

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Category : Income Tax | Comments : 0 | Hits : 1426

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 25th of October, 2016 Order under section 119 of Income-tax Act, 1961 Subject: Issue of Intimation under section 143(1) of Income-tax Act, 1961 beyond the prescribed time in non-scrutiny cases-reg.- It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 201...

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Category : Income Tax | Comments : 0 | Hits : 1681

Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg. The Finance Act, 2016, inter alia, inserted a new Chapter XII-EB consisting of sections 115TD, 115TE and 115TF in the Income-tax Act, 1961 (the Act). This chapter contains specific provisions relating to levy of additional income-tax where the charitable institution exempt under the Act ceases to exist as charitable organization o...

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Category : Income Tax | Comments : 0 | Hits : 1025

Kind attention is invited to Circular No. 43/2016-Customs dated 31.8.2016 on the above cited subject. The field formations are informed for necessary action that with reference to Para 11 of the said Circular, the address of the Textile Commissioner for communication is “Nishta Bhawan, New CGO Building, 48, New Marine Lines, Mumbai-400020” and email ID is “txc-otxc@nic.in”. In para 12 of the said Circular there is reference to monthly email from the Systems Directorate (a...

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Category : Custom | Comments : 0 | Hits : 1063

Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares 40BB. Amount received by the company in respect of issue of share....

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Category : CBDT | Comments : 0 | Hits : 1213