relaxation

As per the extant policy, eligible borrowers in the telecommunication sector are permitted to avail of ECB for the purpose of payment for spectrum allocation, under the automatic route. Keeping in view the large outlay of funds required to be paid directly to the Government within a limited period of time, it has been decided to make a one-time relaxation in the end-use conditions of the ECB policy. Full Article

These individuals, according to the RBI, may open, hold and maintain a foreign currency account with a bank outside India and receive the whole salary payable to him for the services rendered to the office/branch/subsidiary/joint venture in India of such foreign company, by credit to such account, provided that income-tax chargeable under the Income-tax Act, 1961, is paid on the entire salary as accrued in India. Full Article

Relaxation in the norms relating to infrastructure lending and 70 per cent loan loss coverage ratio are likely to top the agenda when bankers meet Reserve Bank of India on January 14, ahead of the quarterly policy review. "Banks will press their demand to relax the norms on infrastructure lending. They may also ask for some easing in the guidelines announced for banks to augment their loan loss coverage ratio to 70 per cent," Indian Banks' Association chief executive, K .. Full Article

After the introduction of the e returns, the dealers were required to make the payment of tax within the prescribed date, but were permitted to upload the e returns within 10 days from the due date prescribed in the said Rule 17 (Please refer Trade Circular No 16T of 2008) Thus the dealers, who paid the tax within the due date and upload the e return within the aforesaid period shall not be treated as late filers. Full Article

RBI/2009-10/ 136  (IDMD.PDRD.No. 1050/ 03.64.00/2009- 10) Dated: August 31, 2009 All Standalone Primary Dealers Dear Sir, Investment Portfolio of Primary Dealers - Relaxation in the existing norms 1. Please refer to our Master Circular RBI/2009-2010/ 56 IDMD.PDRS. 01 / 03.64.00 / 2009-10 dated July 1, 2009 on Operational Guidelines to Primary Dealers containing, inter alia, guidelines [...] Full Article

RELAXATION IN CUT-OFF DATE The actual cut-off date for acceptance of Registration Applications relating to Executive Programme for appearing in one module in December, 2009 Session of Examinations is 31st May, 2009. However, in view of the fact that the said date is falling on an official holiday (Sunday), the next working day i.e. 1st June, [...] Full Article

Raising funds from the bourses may soon become a simpler, shorter process, as the market regulator plans an overhaul of existing norms, taking them closer to standard global practices.  According to an official close to the development, the Securities & Exchange Board of India (Sebi) will rework the norms for instruments such as qualified institutional placements [...] Full Article

The finance ministry on Thursday indicated to an industry delegation that it should not expect a further lowering of corporate, excise and service taxes in the Budget to be presented by the next finance minister. ”Revenue secretary Mr P V Bhide . . . indicated that no further relaxation in excise and service taxes could be [...] Full Article