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Notifications/Circulars

Implementation of the Cadre Restructuring proposals in Income Tax Department : Constitution of Sub-committee No. 2: DPCs

July 2, 2013 510 Views 0 comment Print

The responsibilities of the Sub Committee will be: to ensure early DPC for promotion to the concerned post facilitate/carry out vacancy analysis ensure preparation of a proper panel ensure availability of all the necessary clearances

Private Placement by NBFCs-Non-Convertible Debentures (NCDs) -Clarification

July 2, 2013 960 Views 0 comment Print

Freedom currently available to NBFCs to raise funds through NCDs without any restriction has resulted in inadequate resource planning and higher transaction cost. One of the main objectives of the said circular is to promote discipline in resource planning and raising.

Non-requirement of Registration Certificates for export of non-basmati rice and wheat

July 2, 2013 787 Views 0 comment Print

Through the above cited Trade Notice it was informed that the online applications for obtaining Registration Certificates (RCs) for export of various commodities like cotton, cotton yarn, non-basmati rice, wheat and sugar would be mandatory from Monday the 1st July, 2013.

Implementation of the Cadre Restructuring proposals in Income Tax Department : Constitution of Sub-committee No.1: Jurisdiction & Deployment of Posts

July 2, 2013 688 Views 0 comment Print

This Sub-Committee No. I known as Sub-committee for Jurisdiction and Deployment of posts shall be responsible for recommending the setting up of various offices along with their jurisdiction in accordance with the approved proposals. The Sub-committee shall recommend the Regions/Charges/ places where the additional posts/officers/officials can be deployed, and their likely jurisdiction keeping in mind the need:

Draft Guidelines on Capital and Provisioning Requirements for exposures to corporates having unhedged foreign currency exposure

July 2, 2013 9047 Views 0 comment Print

Please refer to paragraph 99 of the Monetary Policy Statement for 2013-14 (Extract annexed). Unhedged foreign currency exposures of the corporate are an area of concern not only for individual corporates but also to the entire financial system. Corporates who do not hedge their foreign currency exposures can incur significant losses due to exchange rate movements. These losses may reduce their capacity to service the loans taken from the banking system and thereby affect the health of the banking system.

Capital Requirements for Banks’ Exposures to Central Counterparties

July 2, 2013 1476 Views 0 comment Print

Please refer to the paragraph 77 (extract enclosed) of the Monetary Policy Statement for 2013-14 announced on May 3, 2013. It was indicated therein that the final guidelines on capital requirements for banks’ exposures to central counter parties, based on the interim framework of the Basel Committee on Banking Supervision (BCBS), will be issued by end-June 2013.

Maharashtra VAT : Electronic Uploading of Form 424

July 1, 2013 9389 Views 0 comment Print

Commissioner of Sales Tax, Maharashtra State hereby provides that the dealers, who are liable to file return as per the provisions of clause (d) of sub-rule (1) of rule 40 of the Maharashtra Value Added Tax Rules, 2005 shall electronically upload the return in Form 424 provided on the web-site of the Sales Tax Department.

Order No. 119 of 2013 (Transfer & Posting in the grade of CITs/DITs)

July 1, 2013 1096 Views 0 comment Print

ORDER NO. 119 of 2013 Consequent upon Orders No. 106 & 109 of 2013, the following transfers/postings in the grade of Commissioner / Director of Income Tax are hereby ordered with immediate effect and until further orders:

Receiving of Income tax returns in Aayakar Sewa Kendras (ASKs) – regarding

July 1, 2013 1829 Views 0 comment Print

Receiving of Income tax returns in Aayakar Sewa Kendras (ASKs) – regarding. As you are aware Ayakar Sewa Kendras (ASKs) are functional at 132 stations all over India. Return receipt facility through Sevottam Software is also available at all these ASK Centres. In view of these you are requested to ensure the following;

Customs – Conditions for re-import of pets as baggage

July 1, 2013 1210 Views 0 comment Print

Therefore, it is clarified that re-import of pets as baggage is allowed subject to establishment of identity of pets by Customs authorities, production of the required health certificate from the country of export and examination of said pets by the concerned Quarantine Officer at this end.

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