Destination banks may also explore the possibility of using the Unique Transaction Reference (UTR) number to link / retrieve the original message received by them, based on which additional information can be provided as a service initiative when customers make requests online or through call centres.
In this context, we advise that a Committee was constituted by the Controller General of Accounts, Ministry of Finance, Government of India, to review the permissible period for transfer of funds to Government account in case of e-payment and other related issues. The Committee recommended that the remittance norm of T+1 working day (including put through date) for e-payment as applicable for Private Sector Banks may also be made applicable for the Public Sector Banks.
Use challan type 281 for deposit of TDS/TCS. Quote the correct 10-digit Tax Deduction Account Number (TAN), and name & address of the deductor on each challan used for depositing tax. You may verify your TAN details from Income Tax Department web-site (www.incometaxindia.gov.in) prior to depositing TDS/TCS.
The respondent can reverse the CENVAT credit availed on capital goods treating it as undesirable credit to claim depreciation under Section 32 of the Income Tax Act, 1962, and pay duty from PLA otherwise payable after exhausting CENVAT Credit balance thereby claiming refund of the same under Notification No.39/2001-CE dated 31.07.2001.
The fee charged by portfolio managers will soon be linked to the profits they have been able to make for their clients, with capital market regulator Sebi asking portfolio management service (PMS) providers to follow a uniform fee structure.
Paying stamp duty while purchasing or transferring a property is often a long-drawn process. You need to go to the registrar’s office and await your turn, or seek a broker’s help to get the job done with minimum fuss. But there is yet another way —
A non-convertible debenture is a fixed income instrument where the issuer agrees to pay a fixed rate of interest to the investor. The fixed-income instrument cannot be converted into equity of the issuing company and is very different from convertibl
The country’s largest insurer, Life Insurance Corporation, plans to approach sector regulator IRDA in the next 8-10 days to get approval for floating infrastructure bonds.
The other provisions, as specified in SEBI circular no. MRD/DoP/SE/Dep/Cir-14/2007 dated December 20, 2007 on “Short selling and securities lending and borrowing”, SEBI circular no. MRD/DoP/SE/Cir- 31/2008 dated October 31, 2008 on “Review of Securities Lending and Borrowing (SLB) Framework” and SEBI circular no SEBI/MRD/DoP/SE/Dep/Cir-01/2010 dated January 06, 2010 on “Review of Securities Lending and Borrowing (SLB) Framework” shall continue to be applicable.
These bonds can be issued by entities such as LIC , IDFC, IFCI or any other NBFC as classified by the RBI. Earlier in September, IFCI had issued these bonds on a private placement basis. Now, IDFC has decided to offer the first tranche of these bonds
