Due date of UP VAT Annual return for the year 13-14 deferred till 31st December, 2014
The UP VAT authorities has issued a general circular dated 28th November, 2014 for extension of the due date of the Annual retun of the UP VAT till 31st December,2014 for the year 13-14. So. All the assesses under UP VAT are requested to plan their annual return filings accordingly. Read More
Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 Obligation of Payment System Operators Amendment to Prevention of Money-Laundering (Maintenance of Records) Rules 2013
RBI/2014-15/321 DPSS.CO.AD.No.891/02.27.005/2014-15 November 27, 2014 All Payment System Providers, System Participants and Prepaid Payment Instrument Issuers Madam/Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 Obligation of Payment System Operators Amendment to Prevention of Money-Laundering… Read More
Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) Standards
RBI/2014-15/322 DNBR (PD).CC. No.004/03.10.42 /2014-15 November 27, 2014 All NBFCs Dear Sirs, Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) Standards Please refer to DNBS (PD).CC.No. 403/03.10.42/2014-15 dated August 1, 2014 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force (FATF) has updated its Statement on… Read More
SEBI to take strict charge of inflows from loosely regulated offshore foreign entities
As the markets are touching new highs, Sebi is all set to take charge of the inflows form the loosely regulated foreign entities particularly of those which are in gulf. The situation would now turn difficult for the foreign offshore entities which make investments on behalf of the unknown foreign investors as the filed would… Read More
External Commercial Borrowings (ECB) Policy Parking of ECB proceeds
RBI/2014-15/309 A.P. (DIR Series) Circular No. 39 November 21, 2014 To All Authorised Dealer Category-I Banks Madam / Sir External Commercial Borrowings (ECB) Policy Parking of ECB proceeds Attention of Authorized Dealer Category - I (AD Category- I) banks is invited to A.P. (DIR Series) Circular No. 52 dated November 23, 2011 relating to parking… Read More
SEBI to make Initial Public Offer (IPO) process easier for companies
The market regulator Securities and Exchange Board of India is proposing to reduce the time taken for the initial public offer (IPO) process easier to 6-7 days from about 12-13 days now and further make capital raising easier for the companies. The SEBI Board at its latest meeting held on 19th November, 2014 discussed and… Read More
Company Secretary to mandatorily act as Compliance officer in Listed Entities: SEBI
Market regulator SEBI has mandated the appointment of Company Secretary as compliance officer for the purpose of the newly-framed listing regulations. This is a welcome move by SEBI as it will strengthen the compliance ecosystem in listed companies, SNAnanthasubramannian, former President of the Company Secretaries Institute, said. Besides fixing responsibility of compliance of listing regulations… Read More
Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
RBI/2014-15/308 DBR.Dir.BC.No.47/13.03.00/2014-15 November 20, 2014 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam Levy of penal charges on non-maintenance of minimum balances in savings bank accounts Please refer to our circular DBOD.Dir.BC.53/13.10.00/2002-03 dated December 26, 2002 on ˜Minimum Balance in Savings Bank Accounts™ advising banks to inform customers, in a transparent manner, regarding the requirement of minimum… Read More
Export of Goods / Software / Services Period of Realisation and Repatriation of Export Proceeds For exporters including Units in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs and BTPs
RBI/2014-15/306 A.P. (DIR Series) Circular No. 37 November 20, 2014 To, All Category - I Authorised Dealer Banks Madam / Sir, Export of Goods / Software / Services Period of Realisation and Repatriation of Export Proceeds For exporters including Units in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs and BTPs Attention of Authorised… Read More
SEBI withdraws recognition granted to Delhi Stock Exchange (DSE)
The Securities and Exchange Board of India has withdrawn the recognition of watchdog from the Delhi Stock Exchange. The capital market watchdog has also observed that activities of DSE were "carried out in a manner contrary to the interest of the investors." Henceforth, hereby withdraw the recognition granted to Delhi Stock Exchange." Further, DSE acted… Read More
CBEC clarification w.r.t availment of CENVAT credit on Input Services after 6 months
The CBEC vide Circular No: 990/14/2014-CX-8 dated. November 19, 2014 has clarified that the purpose of the amendment made by Notification No. 21 is to ensure that after the issuance of a document under Rule 9(1) of the Credit Rules, Cenvat credit is taken for the first time within six months of the issue of… Read More
Madras HC serves notice to RBI, IBA on challenge made for ATM regulations
The Madras High Court ordered a notice to the Reserve Bank of India and the Indian Banks Association on a challenge made w.r.t the usage and the no. of transactions to take place at the ATM's in the six metros. The matter was duly filed taking into consideration the interest of the General Public to… Read More
Date of holding AGM under CA 2013 for co.’s registered in the State of J&K deferred till 31st December, 2014
The Ministry of Corporate Affairs has issued a General Circular No. 45 dated 18th November, 2014, to provide extension of the date for holding Annual General Meeting (AGM) in terms of Section 96 of the Companies Act, 2013 in the State of Jammu & Kashmir. As there occurred huge devastation because of floods, because of… Read More
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