Notification & Circulars

MAY 2008 EXAMS

NOTIFICATION1st February 2008No. 13-CA (EXAM)/M/2008: - In pursuance of Regulation 22 of the Chartered Accountants Regulations,1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the ProfessionalEducation –II, Professional Competence Course (PCE) and Fin..

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No Charge for Balance Enquiry through ATM

No Charge for Balance Enquiry through ATM Reserve Bank of India has announced a good news for all the users of ATM. Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India. Banks have been deployi..

Posted in Community & General

Adopt electronic Medium for Bulk Payments to ensure Safety

Adopt electronic Medium for Bulk Payments to ensure Safety Recognising the importance of ensuring the safety and security of the payment systems, Reserve Bank of India (RBI) has put in place three modes of electronic payments, namely:- ..

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New approach towards monitoring of frauds in NBFCs

RBI-2007-2008/257 DNBS.PD.CC. No.112 /03.10.42/2007-08 With Referance to Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under: Para 2.2- Cases of 'negligence and cash shortages' and 'irregularities in foreign exchange transactions' referred t..

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Submission of Returns and Audited Balance Sheet by SCs/RCs

Submission of Returns and Audited Balance Sheet by SCs/RCs In partial modification of the circular CC No. 5/SCRc/10.30.000/2006-07 dated April 25, 2007, all the Securitisation Companies/Reconstruction Companies registered with the Bank are advised to furnish the position of..

Posted in Audit

Revised Norms of UCBs for Regulatory Purposes

Revised Norms of UCBs for Regulatory Purposes Cir.No.35 /09.20.001/07-08 Banks are being categorized for regulatory purposes as under: (a) Tier I Banks: Unit banks i.e. banks having a single branch / HO with deposits up to Rs. 100 crore and banks having multiple branches within a single dis..

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Tariff Items are Inserted in Custom’s Notification 69/2004

Tariff Items are Inserted in Custom’s Notification 69/2004 Notification No. 32/2008-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central Government, on being satisfied that it is necessary..

Posted in Custom

Appointment of Joint Commissioner of Customs

Appointment of Joint Commissioner of Customs Notification No. 17 / 2008-Customs (N.T.) In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Centr..

Posted in Custom

Regarding TDS return and non levy of penalty for late

F.No. 275/6/2008-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Tax ***** New Delhi dated 28th January 2008 Subject :- Order under section 119(2)(a) of the Income –Tax Act, 1961 regarding extension of time for filing of Tax Ded..

Posted in Income Tax

Clarification regarding applicability of provisions of Sec194I

Clarification regarding applicability of provisions of Section 194-I to payments made by the customers on account of cooling charges to the cold storage owners CIRCULAR NO. 1/2008, DATED 10-1-2008 Representations have been received from various quarters regarding applicability of the provisions of..

Posted in Income Tax