Category Archives: other Acts

Minimum Standards for a Currency Chest : RBI

By | April 10, 2019

RBI/2018-19/166DCM (CC) No.2482/03.39.01/2018-19 April 08, 2019 Chairman/Managing Director/Chief Executive DirectorAll banks Madam/Sir, Minimum Standards for a Currency Chest As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director]. The Committee, inter-alia, recommended that the Reserve Bank… Read More »

Exchange Rates of Foreign Currencies for Imported and Export Goods from 05th April 2019

By | April 4, 2019

Exchange Rates of conversion of Foreign Currencies notified for Imported and Export Goods Posted On: 04 APR 2019 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super-session of the notification of the Central Board of Indirect Taxes and Customs (CBIC) No.24/2019-CUSTOMS (N.T.), dated 20th March,… Read More »

ICAI Expert Panel for Addressing Bank Audit Queries FY 2018-19

By | April 3, 2019

 Expert Panel for Addressing Bank Branch Audit Queries for FY 2018-19 AUDITING AND ASSURANCE STANDARDS BOARDCONSTITUTES EXPERT PANEL FOR ADDRESSING BANK BRANCH AUDIT RELATED QUERIES FOR THE FINANCIAL YEAR 2018-19  Dear Members, The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and… Read More »

No physical Transfer of Shares from 1st April 2019 : SEBI

By | March 27, 2019

Transfer of shares in physical form to be stopped from April 1, 2019 SEBI has recently amended relevant provisions of SEBI (Listing Obligations and Disclosure Requirements)(Fourth Amendment)Regulations,2018 to disallow listed companies from accepting request for transfer of securities which are held in physical form with effect from April 1,2019.  The shareholders, who continue to hold shares and… Read More »

CS Students to have One Day Mandatory training after registration with ICSI

By | March 27, 2019

CS Students to undergo One Day Mandatory Orientation Program after registration with ICSI The Institute of Company Secretaries of India ( ICSI ) has informed that the students registered with the Institute shall undergo one-day mandatory orientation program for the foundation and executive students immediately after their registration. The decision was taken by the Council… Read More »

Goods moved from outside state under Work contract is not inter State Sale : HC

By | March 26, 2019

Goods that moved from outside Delhi for execution of the works contract are interstate sale and as such cannot be taxed under the Delhi Sales Tax on Works Contract Act, 1999. This Court is of the opinion that the appreciation of the law by the Tribunal in this case is sound and unexceptionable. The placement… Read More »

Deferral of Implementation of Indian Accounting Standards (Ind AS) by RBI

By | March 26, 2019

Deferral of Implementation of Indian Accounting Standards (Ind AS) RBI/2018-2019/146DBR.BP.BC.No.29/21.07.001/2018-19 March 22, 2019 All Scheduled Commercial Banks(excluding Regional Rural Banks) Madam / Dear Sir, Deferral of Implementation of Indian Accounting Standards (Ind AS) Please refer to paragraph 3 of the Statement on Developmental and Regulatory Policies issued with the First Bi-monthly Monetary Policy 2018-19 on April 5,… Read More »

Salary Income -No Interest for defaults in payment of Advance Tax : Supreme Court

By | March 20, 2019

Held The provisions relating to payment of advance tax is contained in Part ‘C’ and interest thereon in Part ‘F’ of Chapter VII of the Act. In cases where receipt is by way of salary, deductions under Section 192 of the Act [i.e TDS ] is required to be made. No question of payment of… Read More »

Trade Credit Policy – Revised framework by RBI

By | March 13, 2019

RBI/2018-2019/140A.P. (DIR Series) Circular No. 23 March 13, 2019 To All Category-I Authorised Dealer Banks Madam / Sir, Trade Credit Policy – Revised framework Attention of Authorised Dealers is invited to the rationalised principal regulation governing the External Commercial Borrowings (ECB) and Trade Credits already notified on December 17, 2018 through the Foreign Exchange Management… Read More »