Category Archives: other Acts

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

By | March 26, 2019
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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
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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
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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 »

Interest Subvention Scheme for Short Term Crop Loans during the years 2018-19 and 2019-20

By | March 12, 2019
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Interest Subvention Scheme for Short Term Crop Loans during the years 2018-19 and 2019-20 RBI/2018-19/137 FIDD.CO.FSD.BC.No.15/05.02.001/2018-19 March 7, 2019 The Chairman / Managing Director & CEOs All Public & Private Sector Scheduled Commercial Banks Madam/Dear Sir, Interest Subvention Scheme for Short Term Crop Loans during the years 2018-19 and 2019-20 Please refer to our circular FIDD… Read More »

Complaint against CA for sexual harassment can be entertained by ICAI : Delhi HC

By | March 6, 2019
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HIGH COURT OF DELHI Lalit Agrawal v. Institute of Chartered Accountants of India VIBHU BAKHRU, J. W.P. (C) NO. 10020 OF 2016 CM NOS. 39730 OF 2016 AND 35843-35844 OF 2018 FEBRUARY  11, 2019 Ashok Bhalla for the Petitioner. Ms. Pooja M. Saigal, Adv. for the Respondent. JUDGMENT 1. The petitioner is a practicing Chartered Accountant and a member… Read More »

Hedging of exchange rate risk by Foreign Portfolio Investors (FPIs) under Voluntary Retention Route

By | March 2, 2019
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Hedging of exchange rate risk by Foreign Portfolio Investors (FPIs) under Voluntary Retention Route RBI/2018-19/136A .P. (DIR Series) Circular No. 22 March 01, 2019 ToAll Category – I Authorised Dealer banks Madam / Sir, Hedging of exchange rate risk by Foreign Portfolio Investors (FPIs) under Voluntary Retention Route Attention of Authorised Dealers Category – I… Read More »

‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt

By | March 2, 2019
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‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt RBI/2018-19/135A.P. (DIR Series) Circular No. 21 March 01, 2019 ToAll Authorized Persons Madam / Sir ‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the following regulations, as amended… Read More »

Storage of Notes and Coins in Currency chest of Banks : RBI guidelines

By | March 1, 2019
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RBI/2018-19/133DCM (Plg.) No.2128/10.25.007/2018-19 February 28, 2019 The Chief Executive Officer/ Chairman/Managing Director All Banks having Currency Chests. Madam/ Sir, Storage of Notes and Coins As stated in para 15 of the monetary policy statement of October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director] to review the… Read More »

Income Tax Returns, PAN, Foreign Assets Details mandatory for Lok Sabha Election Candidates : Notification

By | February 27, 2019
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Income Tax Returns, PAN, Foreign Assets Details mandatory for Lok Sabha Election Candidates   The Government, in order to bring more accountability and transparency in the election process and to make easy verification of the candidates details, mandated that the candidates of election shall declare their income tax returns of the last five years, details… Read More »

Interest Subvention Scheme 2018 for MSMEs

By | February 25, 2019
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Interest Subvention Scheme for MSMEs RBI/2018-19/129DNBR (PD) CC.No.096/03.10.001/2018-19 February 22, 2019 All systemically important non-deposit taking NBFCs Madam / Dear Sir, Interest Subvention Scheme for MSMEs As you are aware, Government of India, on November 2, 2018, has announced ‘Interest Subvention Scheme for MSMEs 2018’. 2. A copy of the salient features and operational guidelines… Read More »