RBI/2015-16/318 A.P. (DIR Series) Circular No. 51 February 11, 2016 To, All Authorised Dealer Category – I Banks Madam/Sir, Regulatory relaxations for start-ups- Clarifications relating to acceptance of payments Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign currency accounts by a person resident in India)… Read More
RBI/2015-16/321 DBR.No.Leg.BC.78/09.07.005/2015-16 February 11, 2016 The Chairman/Chief Executives (All Scheduled Commercial Banks other than RRBs) Dear Sir, Legal Guardianship Certificates issued under the Mental Health Act, 1987 Please refer to Circular DBOD.No.Leg.BC.84/09.07.005/2013-14 dated January 13, 2014 wherein banks were advised, inter alia, to take note of the legal provisions in the Mental Health Act, 1987… Read More
RBI/2015-16/315 DBR.BP.BC.No.76/21.07.001/2015-16 February 11, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to the Press Release… Read More
Accounting for depreciation is generally a significant matter for the purpose of true and fair determination of the operating results of a company as reflected in its statement of profit and loss as well as its financial position as depicted in its balance sheet. Though Accounting Standard (AS) 6, Depreciation Accounting has already been issued… Read More
RBI/2015-16/316 DCM (Plg) No.G- 9/2856/10.27.00/2015-16 February 11, 2016 The Chairman / Managing Director / Chief Executive Officer All State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to our circular DCM (Plg) No.G-15/5486/10.27.00/2014-15 dated June 26, 2015 and the… Read More
RBI/2015-16/317 A.P. (DIR Series) Circular No. 50 February 11, 2016 To, All Authorised Dealers in Foreign Exchange Madam / Sir, Compilation of R-Returns: Reporting under FETERS Attention of Authorised Dealer (Category I) banks is invited to A.P.(DIR Series) Circular No.84 dated February 29, 2012 giving guidelines for compilation of R-Returns for reporting under the Foreign… Read More
Version of Form 8 LLP is likely to be modified w.e.f 13th Feb 2016. All Stakeholders are requested to plan accordingly. Read More
Date : Feb 10, 2016 Application for Regularisation of Assets held Abroad under Black Money Act to be sent to RBI, FED, Central Office, Mumbai The Reserve Bank of India has today stated that applications seeking regularisation of assets held abroad by a person resident in India and declared under the Black Money (Undisclosed Foreign… Read More
RBI/2015-16/306 DPSS (CO) RTGS No.1926/04.04.002/2015-16 February 4, 2016 The Chairman / Managing Director / Chief Executive Officer of participants of RTGS Madam / Sir, RTGS service charges for members and customers - Rationalisation A reference is invited to our circular DPSS.(CO).RTGS.No.388/04.04.002/2011-2012 dated September 5, 2011. 2. As participants in the RTGS are aware, the RBI… Read More
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION(i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 02/2016-Service Tax New Delhi, the 3rd February, 2016 G.S.R. .(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), read… Read More
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION(i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 01/2016-Service Tax New Delhi, the 3rd February, 2016 G.S.R. .(E).- In exercise of the powers conferred by section 93A of the Finance Act, 1994 (32 of 1994), the Central Government, hereby… Read More
Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 8/2016 Customs New Delhi, the 5th February, 2016 G.S.R._____________(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the… Read More
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 5 th February, 2016 Sub:– Steps taken by Income Tax Department for safeguarding taxpayers from Phishing email - regarding The Income Tax Department has been at the forefront of using technology in implementing its – e-Governance initiatives.… Read More