The outcomes of the latest meeting of the Council tasked with steering the Goods and Services Tax regime are worrying. For one, it leaves the Centre hard-pressed to meet its intended deadline for the new indirect tax regime, April 1, 2017. Finance Minister Arun Jaitley had set a November 22 target to resolve all operational… Read More »
ICDS (Income Computation and Disclosure Standards) Key Points about ICDS -Income Computation and Disclosure Standards Notification No of ICDS :- Central Government has notified Income Computation and Disclosure Standards vide Notification No. S.O. 3079(E), dated 29-9-2016 In pursuance of the powers granted to it under section 145(2) of Income Tax Act 1961 Old Notification on ICDS Rescined :-… Read More »
Conditions to be satisfied for application of section 194J regarding TDS on Professional or Technical service
SEBI CIRCULAR CIR/IMD/DF/114/2016 October 20, 2016 To All Infrastructure Investment Trusts (InvITs) All Parties to InvITs All Stock Exchanges All Merchant Bankers Dear Sir / Madam, Sub: Disclosure of financial information in offer document/placement memorandum for InvITs 1. Regulation 15(3), read with Schedule III, and Regulation 15(4) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014… Read More »
Circular No. 47/2016 – Customs F.No.605/42/2016-DBK (Pt.II) Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Drawback Division New Delhi, dated 20th October 2016 To All Principal Chief Commissioners / Principal Directors Generals of CBEC All Chief Commissioners / Directors General of CBEC All Principal Commissioners / Commissioners of… Read More »
RBI/2016-17/86 FMRD.DIRD.08/14.03.007/2016-17 October 20, 2016 All SGL/CSGL Account holders Dear Sir/Madam, Participation of Foreign Portfolio Investors (FPIs) in Government securities on NDS-OM platform In terms of RBI circular FMRD.DIRD.06/14.03.007/2014-15 dated March 20, 2015, FPIs are currently permitted to transact in the Over-The-Counter (OTC) market for Government securities with T+2 settlement. 2. As announced in paragraph… Read More »
RBI/2016-17/87 FMRD.DIRD.07/14.03.007/2016-17 October 20, 2016 All SGL/CSGL Account holders Dear Sir/Madam, NDS-OM Web Module – Access to Gilt Account Holders (GAHs) As announced in the First Bi-monthly Monetary Policy Statement for the year 2016-17 (paragraph 36) on April 5, 2016, it has been decided to make it obligatory for the Primary Members (PM) to offer… Read More »
RBI/2016-17/89 A.P. (DIR Series) Circular No. 7 October 20, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, Investment by a Foreign Venture Capital Investor (FVCI) registered under SEBI (FVCI) Regulations, 2000 Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Transfer or Issue… Read More »
RBI/2016-17/91 A.P. (DIR Series) Circular No. 9 October 20, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, Rupee Drawing Arrangement – Trade related remittance limit Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to A.P. (DIR Series) Circular No.102 dated May 21, 2015 permitting them to regularize… Read More »
RBI/2016-17/92 A.P. (DIR Series) Circular No. 10 October 20, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, External Commercial Borrowings (ECB) – Extension and conversion Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. C.14, F.18 and F.19 of Annex to A.P. (DIR Series) Circular No.32 dated November 30,… Read More »