This has reference to the GoI notification F.No.4(20)-B/(W&M)/2017 and RBI circular IDMD.CDD.No.28/14.04.050/2017-18 dated July 06, 2017 on the Sovereign Gold Bonds, 2017-18-Series II. FAQs in this regard have been placed on our website (www.rbi.org.in).
Interest on Sovereign Gold Bonds 2017-18 – Series II shall be taxable as per the provisions of the Income-tax Act, 1961. The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
With the increased thrust on financial inclusion and customer protection and considering the recent surge in customer grievances relating to unauthorised transactions resulting in debits to their accounts/ cards, the criteria for determining the customer liability in these circumstances have been reviewed. The revised directions in this regard are set out below.
On a review, it has been decided that NBFCs with asset size of ₹ 500 crore and above which comply with the prescribed CRAR and made net profit in the preceding financial year be permitted to undertake PoP services under PFRDA for NPS after registration with PFRDA.
In view of the announcement made in the budget 2014-15 regarding creation of a framework for licensing small banks, and to give a thrust to the supply of credit to micro and small enterprises, agriculture and banking services in unbanked and under-banked regions in the country.
The GST Act has come into force from 1′ July 2017. To provide assistance to dealers for filling online application for Registration, filling online Returns etc. location wise dedicated help desks have already been set up and contact details have been published on the Maharashtra GST Department’s web site.
Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies WEF 07.07.2017
ll applicants desirous of seeking registration as a FVCI are now required to submit their applications online only, through SEBI Intermediary Portal at https://siportal.sebi.gov.in.
The position of direct tax collections till June. 2017 has been reviewed by the Board and it is noted that on several parameters, the growth in revenue is not satisfactory. The gross collections have increased by only 8.4% and it is only due to lower refunds that the net collections are showing a growth rate of about 15%. You will appreciate that once refunds in cases not selected in CASS start getting issued. the growth rate in respect of net collections may also come down.
Due to extensive changes in the systems during the roll out of GST, and ensuring that there is no delay in clearance of such goods due to system issues following decisions have been taken :
