"08 June 2022" Archive

RBI Increases policy repo rate by 50 basis points (Notifications)

RBI/2022-23/65 DOR.RET.REC.44/12.01.001/2022-23, RBI/2022-23/64 MPD.BC.393/07.01.279/2022-23, RBI/2022-23/63 FMOD.MAOG.No.145/01.01.001/2022-23 08/06/2022

As announced in the Monetary Policy Statement 2022-23 dated June 08, 2022, the Bank Rate is revised upwards by 50 basis points from 4.65 per cent to 5.15 per cent with immediate effect....

RBI increases policy repo rate by 50 basis points to 4.90 per cent

Press Release No. 2022-2023/335,334 and 333 08/06/2022

Reserve Bank of India Governor’s Statement In my statement of May 4, 2022, I had mentioned that as we navigate through this difficult period, it is necessary to be sensitive to the new realities and incorporate them into our thinking. The war in Europe is lingering and we are facing newer challenges each passing day which […]...

CBIC extends ADD on pneumatic tyres of specific specifications

Notification  No. 21/2022-Customs (ADD) [G.S.R. 430(E)] 08/06/2022

Seeks to amend notification no. 45/2017-Customs (ADD) dated 18th September, 2017 to extend the ADD on pneumatic tyres of specific specifications from China PR upto 17th December, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 8th June, 2022 Notification No. 21/2022-Customs (ADD) G.S.R. 430(E).—Whereas, the designated a...

RBI Guidelines for Doorstep Banking by UCBs

RBI/2022-23/66 DOR.REG.No.45/19.51.052/2022-23 08/06/2022

UCBs which offer services of pick-up of cash may take suitable steps to educate their employees and agents to enable them to detect forged and mutilated notes so as to avoid frauds and disputes with customers....

Enhancement in Individual Housing Loan limits & credit to Commercial Real Estate – Residential Housing (CRE-RH)

RBI/2022-23/67 DOR.CRE.REC.43/09.22.010/2022-23 08/06/2022

Reserve Bank of India RBI/2022-23/67 DOR.CRE.REC.43/09.22.010/2022-23 June 08, 2022 All State Co-operative Banks (StCBs) All District Central Co-operative Banks (DCCBs) Madam / Dear Sir, Enhancement in Individual Housing Loan limits and credit to Commercial Real Estate – Residential Housing (CRE-RH) Please refer to our circulars RPC...

Individual Housing loans – Enhancement in limits

RBI/2022-23/68 DOR.CRE.REC.42/09.22.010/2022-23 08/06/2022

RESERVE BANK OF INDIA RBI/2022-23/68 DOR.CRE.REC.42/09.22.010/2022-23 | Dated: June 08, 2022 All Primary (Urban) Co-operative Banks, Madam / Dear Sir, Individual Housing loans – Enhancement in limits Please refer to circular UBD.BPD.(PCB). Cir.No.7/09.22.010/2011-12 dated October 31, 2011 on the above subject. 2. As announced in the Sta...

IPs to act as IRP, Liquidators, RP & Bankruptcy Trustees (Recommendation) Guidelines, 2022

Insolvency and Bankruptcy Board of India Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2022 June 08, 2022 Corporate Insolvency The Insolvency and Bankruptcy Board of India (Board) is required under the Insolvency and Bankruptc...

Posted Under: Fema / RBI |

Senior Citizens not having Business Income Exempt from Advance tax

As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form of advance tax. Thus, any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 has to pay his tax in advance by the due dates prescribed in this regard....

Posted Under: Fema / RBI | ,

Advance Tax Provisions, Challan, e-payment Utility & Examples

As per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you can gain knowledge on various provisions relating to payment of advance tax by a taxpayer....

Posted Under: Fema / RBI | ,

Income Tax Offences liable to prosecution

Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law....

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