Circular No. 25/2018-Customs dated 08.08.2018 has prescribed standard operating procedures for the expeditious discharge of the bonds executed by nominated agencies/ banks under notification No. 57/2000-Customs dated 08.05.2000, as a measure of trade facilitation.
In the context of Alternate Investment Funds (AIFs), references have been made to the Central Board of Direct Taxes (the Board) seeking clarity regarding taxability of income from investments made by the non-resident investor through these AIFs, outside India (off-shore investment).
It is clarified that in cases where exports from one of the categories, DTA or SEZ unit(s) have zero export turnover, the SEIS application would be filed with the RA in whose jurisdiction, the units with non-zero export turnover fall. For example, if an IEC’s DTA gross exports earnings are NIL, and its SEZ Unit […]
It is intimated that NFRA-1 Form for intimation of appointment of Auditors to NFRA has been deployed on the website of NFRA (nfra.gov.in) and accordingly the last date of filing the same by the Entities concerned will be 31.07.2019. National Financial Reporting Authority 8th Floor Hindustan Times Building, K.G. Marg New Delhi Ph-011-23355013 No. NF-11/1/2019-0/o […]
With the objective to enhance the security-level in data submission and further improve the data quality, the present email-based reporting system for submission of the FLA return will be replaced by the web-based system online reporting portal.
it has been decided to permit ARCs to acquire financial asset from other ARCs on following conditions: a. The transaction is settled on cash basis; b. Price discovery for such transaction shall not be prejudicial to the interest of Security Receipt holders; c. The selling ARC will utilize the proceeds so received for the redemption […]
Consistent with the needs of branch licencing and financial inclusion policies as well as the need for requisite coverage of additional dimensions/features, a new reporting system, viz., Central Information System for Banking Infrastructure (CISBI) (https://cisbi.rbi.org.in), has been web-deployed to replace the legacy MOF system.
As announced in the Statement on Developmental and Regulatory Policies issued with the Second Bi-Monthly Monetary Policy Statement 2019-20 on June 6, 2019, it has been decided that the minimum Leverage Ratio shall be 4% for Domestic Systemically Important Banks (DSIBs) and 3.5% for other banks.
RBI instructed banks that Instructions relating to the Gold Card Scheme for Exporters shall be strictly implemented and the branch level functionaries suitably sensitised in this regard. RESERVE BANK OF INDIA RBI/2018-19/224 DBR.Dir.BC.No.48/04.02.002/2018-19 June 27, 2019 To All Scheduled Commercial Banks (Excluding RRBs) All Small Finance Banks All Local Area Banks Dear Sir / Madam, […]
DIR KYC date will be extended (due to non-availability of revised form till date) and method of doing KYC will be updated as under:- 1. If all details of Director are same as on MCA portal, then web-based KYC verification with pre-filled data based on the records in the registry.
