Press Releases

CBDT releases draft New FORM No. 10B and rule 17B

F No 370142/6/2019-TPL (21/05/2019)

Rule 17B of the Rules provide that said report of audit of the accounts of a trust or institution shall be in Form No. 10B. The Form No 10B besides providing the Audit Report provides for filing of Statement of particulars as Annexure....

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Last exam for GSTPs falling under STPEL/TRPEL categories on 12.12.2019

NA (10/05/2019)

The next two examinations in year 2019, for GSTPs falling under STPEL/TRPEL categories, shall be conducted on 14.06.2019 and 12.12.2019 (from 1100 hrs to 1330 hrs) at designated examination centers, all across India. Such candidates are hereby informed that the examination scheduled to be held on 12.12.2019 will be their last chance to ap...

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E-filing of Income Tax Returns registers an increase of 19% (Check Statistics)

NA (06/05/2019)

e-filing of Income Tax Returns registers an increase of 19%. There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns (ITR) e-filed during Financial Year (F.Y.) 2018-19 as compared to F.Y. 2017-18. Press Information Bureau Government of India Ministry of Finance 06-May-2019 18:17 IST E-filin...

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Income Tax searches on a business group dealing in lotteries

NA (04/05/2019)

Income Tax Investigation Directorate, Chennai conducted searches on a Coimbatore based business group handling the lotteries run by certain State Governments under agreements with them to function as a Marketing Agent. ...

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RBI clarifies on safe custody of its gold reserves

Press Release No. 2018-2019/2600-RBI (03/05/2019)

Date : May 03, 2019 RBI clarifies on safe custody of its gold reserves We have come across reports in certain sections of the print and social media regarding RBI shifting abroad a part of its gold holding in 2014. It is a normal practice for Central Banks world over, to keep their gold reserves overseas […]...

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RBI extends Ombudsman Scheme to eligible Non-Deposit Accepting NBFCs

Press Release : 2018-2019/2542 / Notification No. Ref. CEPD. PRS. No.4535/13.01.004/2018-19 (26/04/2019)

Reserve Bank Extends Ombudsman Scheme for Non-Banking Financial Companies to eligible Non-Deposit Taking Non-Banking Financial Companies with effect from April 26, 2019....

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No 5-day a week in commercial banks: RBI clarifies

Press Release: 2018-2019/2488 (20/04/2019)

Currently, branches of commercial banks observe holiday only on second and fourth Saturday of a month apart from Sunday. It has been reported in certain sections of media that commercial banks would have a 5-day week on RBI instructions. This information is not factually correct. RBI has not issued any such directions. Relevant RBI Press ...

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IBBI invites comments on Regulations notified under IBC, 2016

No. IBBI/PR/2019/10 (20/04/2019)

Insolvency and Bankruptcy Board of India (IBBI) invites comments from public on the Regulations notified under the Insolvency and Bankruptcy Code, 2016 (IBC, 2016)....

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RBI releases draft “Enabling Framework for Regulatory Sandbox”

Press Release : 2018-2019/2485 (18/04/2019)

Reserve Bank of India Press Releases Date : Apr 18, 2019 In view of the growing significance of FinTech innovations and their interface with the financial sector as well as financial sector entities, the Financial Stability and Development Council – Sub Committee had decided to set up a Working Group (WG), to look into and […...

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Merger of Lakshmi Vilas Bank and IBHF not yet approved: RBI

Press Release: 2018-2019/2390 (06/04/2019)

Reserve Bank of India (RBI) has learnt through media reports that Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance Limited (IBHFL) have made a merger announcement on April 5, 2019 with approval of their respective Boards....

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