As per the extant policy provisions enshrined in FTP and SEZ Act, 2005, export permission is required for supply of SOMET items from DTA to SEZ. With this notification, no such permission will be required. However, export permission will continue to be required for export of SCOMET items outside the country both from SEZ and DTA (including EOUs).
Please refer to our circular RPCD.CO.RCB.AML.BC.No.52/07.02.12/2011-12 dated January 4, 2012. We have since received from Government of India, Ministry of External Affairs, UNP Division copies of notes forwarded by the Chairman of UN Security Council’s 1267/1989 Committee (copy enclosed) regarding changes made in the “Al-Qaida Sanctions List”, i.e. list of Individuals and entities linked to Al-Qaida, as detailed below:
RRBs are required to update the list of individuals/entities as circulated by the Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, RRBs should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.
Please refer to paragraph 2 (b) of Circular DBOD.Leg.No.BC.104/09.07.007/2002-03 dated May 5, 2003 on ‘Guidelines on Fair Practices Code for Lenders’ wherein banks were advised to devise a system of giving acknowledgement for receipt of all loan applications. The banks were also advised vide our circular RPCD.SME & NFS.BC.No.102/06.04.01/2008-09 dated May 4, 2009 to put in place a Central Registration of loan applications and to use of same technology for online submission of loan applications as also for online tracking of loan applications as recommended by the Working Group on Rehabilitation of sick MSME Units (Chairman: Dr. K. C. Chakrabarty).
RPCD.CO.RCB.AML.BC.No 52/07.02.12/20Banks are advised to strictly follow the procedure laid down in the UAPA Order dated August 27, 2009 enclosed to our circular RPCD.CO.RF.AML. BC. No. 34/07.40.00/ 2009-10 dated October 29, 2009 and ensure meticulous compliance to the Order issued by the Government.
Notification No. 3/2012-Income Tax In exercise of powers conferred by sub-section (1B) of section 143 of Income Tax Act, 1961 (43 of 1961), for the purpose of giving effect to the Centralised Processing of Returns Scheme, 2011 made under sub-section (IA) of section 143 of the said Act, the Central Government hereby directs that, the following provisions of the Act relating to processing of returns shall not apply or shall apply with such exceptions, modifications and adaptations as specified hereunder, namely: –
Notification No. 2/2012-Income Tax This scheme shall be applicable in cases where return of income has been furnished in,- (i) electronic form; or (ii) paper form, in case of a class or classes of persons, as notified by the Board in this behalf. In case Form ITR-V furnished after the prescribed time is rejected on account of it being unsigned, illegible, mutilated, bad quality or not as per specification, it shall be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the person to electronically file the return of income again followed by submission of the new Form ITR-V. Adjustment against outstanding tax demand.—The set-off of refund, if any, arising from the processing of a return, against tax remaining payable will be done by using the details of outstanding tax demand lying against the person as uploaded onto the system of the Centre by the Assessing Officer.
Please refer to circular UBD.BPD. (PCB). Cir. No. 24 /12.05.001/2010-11 dated November 16, 2010 in terms of which all licensed UCBs, other than those under all inclusive Directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS), were permitted to open Current Account and Subsidiary General Ledger Account with the Reserve Bank and take up membership of the Indian Financial Network (INFINET).
We have since received from Government of India, Ministry of External Affairs, UNP Division copies of notes forwarded by the Chairman of UN Security Council’s 1267/ 1989 Committee (copy enclosed) regarding changes made in the “Al-Qaida Sanctions List”, i.e. list of Individuals and entities linked to Al-Qaida, as detailed below:
Notification No. 1/2012-Central Excise – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India, in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be further amended, in the manner specified in the corresponding entry in column (3) of the said Table, namely:-
