Corporate Law Reporter - The Daily Journal

Benefits of Goods and Services Tax (GST)

Goods and Service Tax (GST) is a single tax on the supply of goods and services, right from the manufacturer to the consumer. GST is one indirect tax for the whole nation, which will make India one unified common market. GST is beneficial not only for the business and industry, but also for the government and… Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability of the Scheme to DCCBs

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… Read More

Uploading of the existing clients’ KYC details with Central KYC Records Registry (CKYCR) System by the registered intermediaries

CIRCULAR CIR/MIRSD/120 /2016 November 10, 2016 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. All recognised Depositories 4. Depository Participants through Depositories 5. Association of Mutual Funds in India 6. Mutual funds through AMFI 7. Portfolio Managers 8. KYC Registration Agencies (KRAs) 9. Alternative Investment Funds (AIFs) 10. Collective Investment… Read More

Income-tax (29th Amendment) Rules, 2016

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION 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… Read More

Monthly Summary of MCA for the month of October, 2016

A copy for the Monthly Summary of the Ministry of Corporate Affairs for the month of October, 2016 is enclosed for information. Click here to download the Monthly Summary of MCA for the month of October, 2016 Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash

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… Read More

Schemes for Stressed Assets – Revisions

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… Read More

Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) to remain open on Saturday, November 12 and Sunday, November 13, 2016

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… Read More

Withdrawal of the legal tender character of the existing and any older series banknotes in the denominations of ₹ 500 and ₹ 1000

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… Read More

Banks to remain open for public on Saturday, November 12 and Sunday, November 13, 2016

RBI/2016-17/114 DBR.No.Leg.BC.31/09.07.005/2016-17 November 9, 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/ Madam, Banks to remain open for public on Saturday, November 12 and Sunday, November 13, 2016… Read More

Companies (Registration Offices and Fees) Second Amendment Rules, 2016

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section(i)] Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 7th November, 2016 G.S.R.......(E).-In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with sub-sections(1) and (2) of section 469 of the Companies Act, 2013 (18… Read More

IEPF Authority (Recruitment, Salary and other Terms and Conditions of Service Officers and other Employees), Rules 2016

The Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service Officers and other Employees), Rules 2016 [approved by the Competent Authority yet to be legislatively vetted] Read More.... Read More

FAQs on Withdrawal of Legal Tender Character of the Old High Denomination Bank Notes

1. Why is this scheme? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. High denomination notes have been misused by terrorists and… Read More