Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 30th December, 2015 Subject: Electronic filing of first appeal before CIT(Appeals) – reg. It is the endeavour of the Income tax Department to digitise various functions of the Department for providing efficient taxpayer services. As another significant step in this direction, electronic filing of appeal before CIT(Appeals) is being made mandatory for pe...

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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Instruction No. 19/2015 Dated the 29th of December, 2015 To All Pr. Chief-Commissioners of Income-tax/ Chief-Commissioners of Income-tax All Pr. Directors-General of Income-tax/ Directors-General of Income-tax Subject- IssuingQuestionnaireincasesselected for scrutiny- regarding Sir/Madam Instances have come to the notice of the Board that in cases s...

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TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts. Circular No. 23/2015 dated 28/12/2015....

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RBI/2015-16/275 DCM (Plg) No.G-8/2331/10.27.00/2015-16 December 23, 2015 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks Primary (Urban) Co-operative Banks / RRBs Madam / Dear Sir, Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to ourcircular DCM (Plg) No.G-15/5486/10.27.00/2014-15 dated June 26, 2015and thePress Release dated June 25, 2015on the captioned subject. 2. On a review of the matter, it has bee...

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RBI/2015-16/274 DGBA.GAD. No. 2023/15.01.001/2015-16 December 23, 2015 The Chairman & Managing Director Head Office Government Accounts Department State Bank of India / State Bank of Patiala State Bank of Bikaner & Jaipur /State Bank of Travancore State Bank of Hyderabad / State Bank of Mysore Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/ Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank/ Indian Overseas Bank / Orient...

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Circular No. 22/2015 - Allowability of employer's contribution to funds for the welfare of employees terms of section 43B(b) of the Income-tax Act !New 17 December 2015 CIRCULAR ...

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S. O. 3388(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2015 (21 of 2015), the Central Government hereby appoints the 14th day of December, 2015 as the date on which the provisions of section 13 and 14 of the said Act shall come into force. ...

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RBI/2015-16/273 DBR.No.Dir.BC.67/13.03.00/2015-16 December 17, 2015 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Interest Rates on Advances A reference is invited toparagraph 22of the first Bi-monthly Monetary Policy Statement 2015-16 announced on April 7, 2015 which stated that in order to improve the efficiency of monetary policy transmission, the Reserve Bank will encourage banks to move in a time-bound manner to marginal-cost-of-funds-based determination o...

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RBI/2015-16/269 DPSS.CO.PD.No./1265/02.23.001/2015-2016 December 17, 2015 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 / White Label ATM Operators Madam /Dear Sir Mobile Banking Transactions in India - Operative Guidelines for Banks – Customer Registration for Mobile Banking A reference is invited topara 7of the Maste...

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In exercise of the powers conferred by sub-section (6) of section 195 read with 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 (21st Amendment) Rules, 2015. (2) They shall come into force on the 1 st day of April, 2016....

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Circular No.190/9/2015-Service Tax F.No.354/153/2014-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** Dated- 15thDecember, 2015 To, Principal Chief Commissioners of Customs and Central Excise(All) Principal Chief Commissioners of Central Excise & Service Tax (All) Principal Director Generals of Goods and Service Tax/System/CEI Director General of Audit/Tax Payer Services, Principal Commissioners/ Commissioner...

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RBI/2015-16/267 A.P. (DIR Series) Circular No. 35 December 10, 2015 To All Authorised Dealer Category - I Banks Madam / Sir, Guidelines on trading of Currency Futures and Exchange Traded Currency Options in Recognized Stock Exchanges – Introduction of Cross-Currency Futures and Exchange Traded Option Contracts Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contrac...

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RBI/2015-16/262 DBR.No.Ret.BC.64/12.01.001/2015-16 December 10, 2015 All Commercial Banks, Primary (Urban) Co-operative Banks (UCBs), State and Central Co-operative Banks (StCBs/CCBs) Dear Sir, Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR) Please refer tocirculars DBR.Ret.BC.70/12.02.001/2014-15andDCBR.BPD.(PCB/RCB).Cir.No.14/16.26.000/2014-15 dated February 03, 2015, on maintenance of Statutory Liquidity Ratio und...

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RBI/2015-16/261 DBR.No.BP.BC.65/21.04.141/2015-16 December 10, 2015 All Commercial Banks Dear Sir, Fourth Bi-monthly Monetary Policy Statement, 2015-16 – SLR Holdings under Held to Maturity Category In terms of ourcircular DBOD.No.BP.BC.42/21.04.141/2014-15 dated October 7, 2014and also,RPCD.CO.RRB.BC 34/03.05.33/2014-15 dated October 20, 2014on ‘Fourth Bi-monthly Monetary Policy Statement, 2014-15 – SLR Holdings under Held to Maturity Category’, all bank...

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RBI/2015-16/257 FIDD.CO.Plan.BC.No.14/04.09.01/2015-16 December 3, 2015 The Chairman All Regional Rural Banks Dear Sir/Madam, Regional Rural Banks - Priority Sector Lending – Targets and Classification During the last decade, Regional Rural Banks (RRBs) have undergone significant structural and operational changes, be it two-phased amalgamation, implementation of CBS platform or recapitalization, inter alia. Considering the growing significance of RRBs in pursuit of financ...

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Reference is invited to Circular No.17/2014 dated 10.12.2014 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961 (hereinafter ‘the Act’), during the financial year 2014-15, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2015-16 and explains certain r...

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F. No.: DGIT(S)/CPC(TDS)/DCIT/15GH /2015-16/14425-556 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 4/2015 New Delhi, 1st of December 2015 Subject:Simplification of procedure for Form No.15G & 15H – regarding Section 197A of the Income tax Act provides for no deduction in certain case by submitting a declaration usingForm 15G/15Has laid down in Rule 29C of the Income tax Rule...

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RBI/2015-16/255 A.P. (DIR Series) Circular No.32 November 30, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy – Revised framework Attention of Authorised Dealer Category – I (AD Cat I) banks is invited toA.P. (DIR Series) Circular No. 5 dated August 1, 2005containing the basic framework under which eligible resident entities can raise External Commercial Borrowings (ECB). Subsequent to issuance of this ...

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In continuation of this Ministry's General Circular 1412015 dated 28.10.2015, keeping in view requests received from various stakeholders, it has been decided to relax the additional fe€s payable on e-forms AOC4, AOC (CFS) AOC-4 XBRL and e- Form MGT-7 upto 30.12,2015, wherever additional fee is applicable...

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Circular No.189/8/2015-Service Tax F. No. 354/279/2015-TRU Government of India Department of Revenue Central Board of Excise & Customs New Delhi New Delhi, the26thNovember, 2015 To Principal Chief Commissioners of Customs and Central Excise(All) Principal Chief Commissioners of Central Excise & Service Tax (All) Principal Director Generals of Goods and Service Tax/System/CEI Director General of Audit/Tax Payer Services, Principal Commissioners/ Com...

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RBI/2015-16/253 A.P. (DIR Series) Circular No.31 November 26, 2015 To All Authorised Persons Madam/ Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds 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 notified videNotification No. FEMA.20/2000- RB dated May 3, 2000, as amended from time to time and t...

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RBI/2015-16/252 DBR.IBD.BC. 61/23.07.001/2015-16 November 26, 2015 All Foreign Banks operating in India Dear Sir/Madam, Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks Please refer to our D.O.No.DBOD.Ref.1318/C.319-70 August 31, 1970 and Circulars DBOD.No.1033/23.07.001/94 dated March 11, 1994 and DBOD.IBS.BC.No.109/ 23.06.001/ 99-2000 October 30, 1999 regarding engagement of expatriate officers by foreign banks in branches in India. 2. We hav...

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RBI/2015-16/251 DBR.AML.BC.No.60/14.01.001/2015-16 November 26, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (SCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons Dear Sir/ Madam Central KYC Records Registry (CKYCR) - template for Kn...

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RBI/2015-16/250 DNBR.CC.PD.No. 071/03.10.038/2015-16 November 26, 2015 To All NBFC-MFIs Madam/ Sir Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – DirectionsDNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011andDNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015– Revision of the loan amount with tenure not less than 24 months In the light of the representations received from the ‘sector’ on the captioned subject, it is advis...

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RBI/2015-16/249 A.P. (DIR Series) Circular No.30 November 26, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir Advance Remittance for Import of aircrafts /helicopters / other aviation related purchases Attention of Authorised Dealers Category - I (AD Category - I) banks is invited to clause 3(f) ofA. P. (DIR Series) Circular No.77 dated June 29, 2007, in terms of which AD Category I banks could allow advance remittance, without bank guarantee or an unconditiona...

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RBI/2015-16/248 A.P. (DIR Series) Circular No. 29 November 26, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir Import of Goods into India – Evidence of Import Attention of the Authorised Dealers is invited topara A.10.1of A.P. (DIR Series) Circular No. 106 dated June 19, 2003 in terms of which an importer has to submit as evidence of import, (a) the exchange control copy of the Bill of Entry for home consumption; (b) the exchange control copy of the Bill...

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RBI/2015-16/247 DBR.BP.BC.No.55/21.04.172/2015-16 November 26, 2015 All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Bank Finance to Factoring Companies Please refer to ourcircular DBOD.BP.BC.No.40/21.04.172/2012-13 dated September 11, 2012on “Bank Finance to Factoring Companies”, in terms of which banks were advised that they can extend financial assistance to support the factoring business of Factoring Companies complying with certain criteria, which...

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RBI/2014-15/246 DNBS (PD).CC.No.03/03.02.02/2015-16 November 26, 2015 All Non Banking Financial Companies Dear Sir, Online Returns to be submitted by NBFCs- Revised Please refer to ourMaster Circular no DNBS.IT.CC.No.01/24.01.191/2015-16 dated July 01, 2015on Returns to be submitted by NBFCs. 2. It has been decided to rationalize the returns’ to be submitted online through COSMOS as below: Change in periodicity of NDSI-500cr and ALM-1 returns from monthly to qua...

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RBI/2015-16/244 Ref. No. IDMD/1130/08.02.032/2015-16 November 23, 2015 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) five dated securities for notified amount of Rs 15,000 crore as per the following details: Sr No Security Notified...

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RBI/2015-16/242 DBR.RRB.BC.No. 59/31.01.001/2015-16 November 19, 2015 All Regional Rural Banks Dear Sir/Madam, Internet Banking Facility for Customers of Regional Rural Banks Presently, Regional Rural Banks (RRBs) are not permitted to provide internet banking facilities to their customers. With a view to enhancing customer service and taking into account demand for such services, it has been decided to allow RRBs to extend the facility of internet banking to their customers. The ...

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Category : RBI | Comments : 0 | Hits : 1054