Plead of Appellant :- The certificate in effect indicated that the said amount of huge cash was a sort of investment received from such investors which was not found to be correct by the Tribunal, and therefore the certificate was a false certificate which ultimately benefited the trader/assessee in setting up an explanation with regard to the evasion… Read More »
The Negotiable Instruments (Amendment) Bill, 2015 notified; Focus on clarifying the jurisdiction related issues for filing cases for offence committed under Section 138 of the Act The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent… Read More »
RBI/FED/2015-16/1 FED Master Direction No.4/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Sir, Master Direction- Compounding of Contraventions under FEMA, 1999 The provisions of section 15 of Foreign Exchange Management Act, 1999 (42 of 1999) hereinafter referred to as FEMA, 1999, permit compounding of contraventions and,… Read More »
Source Reserve Bank of India RBI/FED/2015-16/2 FED Master Direction No. 6/2015-16 January 1, 2016 To All Authorised Dealer Category – I banks and Authorised Banks Madam/ Dear Sir, Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin Borrowing and lending transactions in… Read More »
Source : Reserve Bank of India RBI/FED/2015-16/3 FED Master Direction No. 7/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Liberalised Remittance Scheme (LRS) The captioned Scheme was introduced on February 4, 2004, vide A.P. (DIR Series) Circular No. 64 dated February 4, 2004 read with GoI… Read More »
Source Reserve Bank of India RBI/FED/2015-16/4 FED Master Direction No. 8/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Other Remittance Facilities Miscellaneous remittance facilities for residents are allowed in terms of Section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification… Read More »
RBI/FED/2015-16/5 FED Master Direction No. 9/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Insurance Issuance of insurance is regulated under sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999, (42 of 1999), read with Notification No.FEMA.12/2000-RB, dated May 3, 2000. These Regulations are… Read More »
Source Reserve Bank of India RBI/FED/2015-16/6 FED Master Direction No.10/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam / Dear Sir, Master Direction – Establishment of Liaison/ Branch/ Project Offices in India by foreign entities Establishment of Branch/ Liaison/ Project Offices in India is regulated in terms of… Read More »
Source Reserve Bank of india RBI/FED/2015-16/7 FED Master Direction No. 12/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam/ Sir Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999 Acquisition and transfer of immovable property by Indian residents outside India and Non-residents… Read More »
Source Reserve Bank of India RBI/FED/2015-16/8 FED Master Direction No. 13/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – Remittance of assets Remittance outside India by a person whether resident in India or not, of assets in India, are governed by section… Read More »