Compliance Function in Banks: Back to the basics (Inaugural address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the launch of certificate programmes on Compliance Function and Training on July 12, 2013 in Mumbai) July 16, 2013 Mr. S.N. Ananthasubramanian, President, Institute of Company Secretaries of India (ICSI);Mr. Allen Pereira, […]
Please refer to the instructions contained in our circular no. DPSS.CO.CHD.No. 1622/04.07.05/2012-13 dated March 18, 2013 wherein the timeline for withdrawal of residual non-CTS-2010 standard cheques was extended up to July 31, 2013 subject to a review in June 2013. Banks were also advised to report the progress made towards migration to CTS-2010 on a monthly basis.
The Reserve Bank of India has imposed monetary penalty on the following 22 banks for violation of its instructions, among other things, on Know Your Customer/Anti Money Laundering. The details are: Monetary Penalty Sl. No. Name of the bank Penalty Amount (in Rs. crore) 1 Andhra Bank 2.50 2 Bank of Baroda 3.00 3 Bank […]
In the present case, in September 2007 the search was carried out in the premises of Dr. Yogi Raj Sharma. The document Annexure RJ-1 was seized by the respondents. At the relevant time petitioner no. 1 was the Chief Health Secretary and this fact was within the knowledge
In respect of cases where returns have been processed by the CPC, Bengaluru and refunds have been fully or partly adjusted against the past arrears while passing or communicating the order under Section 143( I) of the Act, without following the procedure under Section 245 of the Act, be carried out by 31st August, 2013 positively.
M/s Arcadia Share & Stock Brokers Pvt. Ltd. (“the Appellant”) was engaged in rendering stock broker services. However, the Appellant discharged service tax liability under the wrong accounting code i.e. service tax was remitted under the accounting code for education cess. The Department confirmed demand against the Appellant for non-payment of service tax under proper accounting code.
The result of the Chartered Accountants Final Examination held in May, 2013 and Common Proficiency Test (CPT) held in June, 2013 are likely to be declared on Tuesday, the 16th July, 2013around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the […]
The assessee earned income by way of dividend. During the assessment u/s 143(3) of the Income Tax Act, 1961. The AO asked the assessee for the details of expenditure incurred for earning the exempted income (dividend income).
Circular No. 07/DV/2013-Income Tax The two sections 10A and 10B of the Act were initially placed on statute in 1981 and 1988 respectively, and continued with some modifications and amendments till 31.03.2001. Section 10A as inserted by Finance Act, 1981 read as under: “Section 10A. Special provision in respect of newly established industrial undertakings in the free trade zones.- (1) Subject to the provisions of this section, any profits and gains derived by an assessee from an industrial undertaking to which this section applies shall not be included in the total income of the assessee.”
