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Notifications/Circulars

Notification No. 36/2016-Income Tax, Dated: 27.05.2016

May 27, 2016 2869 Views 0 comment Print

S.O. It is hereby notified for general information that the organization M/s G.B. Pant Institute of Himalayan Environment and Development, New Delhi (PAN-AAAAG3515F) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961

ATMs – Security and Risk Mitigation Measures for Card Present (CP) Transactions

May 26, 2016 1615 Views 0 comment Print

Reserve Bank of India RBI/2015-2016/413 DPSS.CO.PD.No./2895/02.10.002/2015-2016 May 26, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised ATM Network Operators / Card Payment Network Operators/White Label ATM Operators Madam / Sir, ATMs – Security […]

Withdrawal of duty exemption on export of Chromium ores & concentrates, all sorts

May 26, 2016 781 Views 0 comment Print

makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R. 153(E), dated the 1st March, 2011

Reg. channeling transactions through Asian Clearing Union

May 26, 2016 814 Views 0 comment Print

It has been decided to revise the minimum amount and the multiples in which Reserve Bank will receive and pay for the purpose of funding or for repatriating the excess liquidity in the ACU Dollar and ACU Euro accounts to $ 500 / € 500.

Direct Tax Dispute Resolution Scheme Rules, 2016

May 26, 2016 3421 Views 0 comment Print

Form of declaration and undertaking under section 203.- (1) The declaration under sub-section (1) of section 203 shall be made in duplicate in Form-1 to the designated authority and verified in the manner specified therein.

Last date for filing deceleration under Direct Tax Dispute Resolution Scheme

May 26, 2016 2233 Views 0 comment Print

S.O. 1902(E).- In exercise of the powers conferred by section 202 of the Finance Act, 2016 (28 of 2016), the Central Government hereby appoints the 31st day of December, 2016 as the date on or before which a person may make a declaration to the designated authority in respect of tax arrear or specified tax under the Direct Tax Dispute Resolution Scheme, 2016.

Credit information reporting in respect of Self Help Group members

May 26, 2016 655 Views 0 comment Print

A review of the implementation of the aforesaid directions by the Reserve Bank of India (RBI) revealed that banks had not made a significant progress in this regard. The banks also pointed out a number of challenges in implementation of these directions and requested for greater clarity on their scope. Consequently, the RBI constituted a working group with members from within RBI, NABARD, banks and Credit Information Companies (CICs), to study the implementation challenges and suggest measures to address them.

Merchant Acquisition for Card transactions

May 26, 2016 1015 Views 0 comment Print

In order to encourage banks to expand card acceptance infrastructure to a wider segment of merchants across all geographical locations and considering the experience gained by the banks in merchant acquiring business, banks are advised that they may put in place their own Board approved policy on merchant acquisition. The above instructions will come into effect from the date of issue of this circular.

Inclusion in Second Schedule to RBI Act 1934 – The Jalgaon Peoples Co-op Bank Ltd., Jalgaon

May 26, 2016 595 Views 0 comment Print

We advise that the name of ‘The Jalgaon Peoples Co-op Bank Ltd., Jalgaon’ has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DCBR.CO.BPD.04/16.05.000/2015-16 dated April 6, 2016 published in the Gazette of India (Weekly No. 20 – Part III – Section 4) dated May 14, 2016.

Revitalising Distressed Assets in Economy & Strategic Debt Restructuring Mechanism

May 26, 2016 811 Views 0 comment Print

The Reserve Bank of India (the Bank) has issued various guidelines aimed at revitalising the stressed assets in the economy. The measures taken by the Bank include Strategic Debt Restructuring Mechanism, Framework to Revitalise the Distressed Assets in the Economy and Revisions to the Guidelines on Restructuring of Advances by Banks.

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