Rule 114AAA of the Income-tax Rules, 1962 related to Manner of making permanent account number (PAN) inoperative is applicable from 1st day of July, 2023. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi *** Order No. F. No. 370142/14/2022-TPL Dated 1st April, 2023 Sub: Specified […]
Reserve Bank ogf India RBI/2023-24/05 DoR.STR.REC.4/09.27.000/2023-24 April 1, 2023 The Managing Director / Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir / Madam, Master Circular – Guarantees, Co-Acceptances & Letters of Credit – UCBs Please refer to our Master Circular DoR.STR.REC.9/09.27.000/2022-23 dated April 1, 2022 on the captioned subject (available at RBI website https://rbi.org.in/). The enclosed Master […]
Reserve bank of India RBI/2023-24/04 DOR.STR.REC.5/13.07.010/2023-24 April 1, 2023 All Scheduled Commercial Banks (excluding Payments Banks and RRBs) Dear Sir / Madam Master Circular – Guarantees and Co-acceptances Please refer to the Master Circular DOR.STR.REC.8/13.07.010/2022-23 dated April 1, 2022 consolidating the instructions / guidelines issued to banks till March 31, 2022, relating to Guarantees and Co-acceptances. This Master […]
Self Help Groups have the potential to bring together the formal banking structure and the rural poor for mutual benefit. Studies conducted by NABARD in a few states to assess the impact of the linkage project have brought out encouraging
In order to ensure that minority communities secure, in a fair and adequate measure, the benefits flowing from various Government sponsored schemes, Scheduled Commercial Banks (referred to as ‘banks’ hereafter) are advised to ensure smooth flow of bank credit to minority communities.
In order to encourage SC/ST borrowers to take advantage of credit facilities, greater awareness among them about various schemes formulated by banks needs to be created through various means such as brochures, visits by field staff etc so that salient features of the schemes, as also the advantages that will accrue to them are known to such borrowers. Banks should advise their branches to organize meetings more frequently exclusively for SC/ST beneficiaries to understand their credit needs and to incorporate the same in the credit plan.
CBDT has entered into a record 95 Advance Pricing Agreements (APAs) in FY 2022-23 with Indian taxpayers. This includes 63 Unilateral APAs (UAPAs) and 32 Bilateral APAs (BAPAs). With this, the total number of APAs since inception of the APA programme has gone up to 516, comprising 420 UAPAs and 96 BAPAs.
Notification No. 16/2023- Income Tax Dated: 01st April, 2023 – CBDT notifies Tax Exemption to Bhadohi Industrial Development Authority, a body constituted by the state government of Uttar Pradesh, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification […]
The gross GST revenue collected in the month of March 2023 is ₹1,60,122 crore of which CGST is ₹29,546 crore, SGST is ₹37,314 crore, IGST is ₹82,907 crore (including ₹42,503 crore collected on import of goods) and cess is ₹10,355 crore (including ₹960 crore collected on import of goods).
ICAI has released an Excel Utility which is based on the procedures outlined in the Guidance Note on Audit of Banks and the Technical Guide on the Long Form Audit Report.
