Increase in Transport Allowance for Central Govt employees wef 01st April 2015 No. 21(2)/2015-E.II (B) Government of India Ministry of Finance Department of Expenditure New Delhi, Dated- 6th August, 2015 OFFICE MEMORANDUM Subject:-Grant of Transport Allowance to Central Government employees. Reference is invited to Ministry of Finance, Department of Expenditure O.M. No. 21(2)/2008-E.II(B) dated 29th… Read More »
CA Certificate not required for certain remittances: Govt Press Information Bureau Government of India Ministry of Finance 07-August-2015 17:45 IST Modifications in Foreign Exchange Regulations Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Remittance Scheme (LRS) for resident individuals for further liberalizing the existing guidelines. Accordingly, all… Read More »
Question: Whether TDS on Landing and parking charges for Aircrafts to be deducted u/s 194I or 194C ? Landing and parking charges payable by Airlines in respect of aircrafts are not for the use of land per se but the charges are in respect of number of facilities provided by the Airport Authority of India. Thus,… Read More »
Question: Whether service tax law would apply even in respect of services rendered by a State Government ? As per section 65B(37), person is defined as including Government – Hence, service tax law would apply even in respect of services rendered by a State Government, unless services fall under negative list of services HIGH COURT OF KERALA… Read More »
FRAUDS CLASSIFICATION AND REPORTING MASTER CIRCULAR DBS.CO.CFMC.BC.No.1/23.04.001/2015-16, DATED 1-7-2015 Please refer to our letter DBS.CO.CFMC.BC.No.1/23.04.001/2014-15 dated July 01, 2014 forwarding the Master Circular on ‘Frauds – Classification and Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular… Read More »
ACQUISITION AND TRANSFER OF PROPERTY IN INDIA BY NRI NRI S/PIOS/FOREIGN NATIONALS OF NON-INDIAN ORIGIN MASTER CIRCULAR NO.4/2015-16, DATED 1-7-2015 Acquisition and transfer of immovable property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin is regulated in terms of Sub-sections (3), (4) and (5) of Section 6 of the Foreign Exchange Management Act, 1999 read with… Read More »
INTEREST RATES ON DEPOSITS HELD IN FCNR(B) ACCOUNTS MASTER CIRCULAR DBR.NO.DIR.BC.8/13.03.00/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No.Dir.BC.14/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to deposits held in FCNR (B) Accounts. This Master Circular consolidates instructions on the above matter issued up… Read More »
GUARANTEES AND CO-ACCEPTANCES MASTER CIRCULAR DBR.No.DIR.BC.11/13.03.00/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD.No.Dir.BC.17/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014, relating to Guarantees and Co-acceptances. This Master Circular consolidates the instructions on the above matter issued up to June 30, 2015. A. Purpose This Master Circular… Read More »
IMPORT OF GOODS AND SERVICES MASTER CIRCULAR NO.13/2015-16, DATED 1-7-2015 Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account Transaction) Rules, 2000 as… Read More »
HOUSING FINANCE MASTER CIRCULAR DBR.No.DIR.BC.13/08.12.001/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No. Dir. BC. 18/08.12.001/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to Housing Finance. This Master Circular consolidates instructions on the above matter issued up to June 30, 2015. A. Purpose To consolidate… Read More »