Daily Archives: May 12, 2016

CA examiners shall appoint Checkers : ICAI

May 12, 2016 Assignments of Checkers The examination process inter alia includes a procedure of having the answer books checked, after evaluation by examiners, by Checkers to ensure that all answers have been evaluated, marks awarded have been carried forward to the cover page of the answer books and that the totalling of marks is… Read More »

Guidelines for Voluntary surrender of Certificate of Authorisation (COA) by Payment System Operators (PSOs) authorised under PSS Act 2007

BI/2015-16/396 DPSS.CO.AD.No.2627/02.27.005/2015-16 May 12, 2016 To, All entities authorised under the Payment & Settlement Systems Act, 2007 (PSS Act) Dear Sir/Madam, Guidelines for Voluntary surrender of Certificate of Authorisation (COA) by Payment System Operators (PSOs) authorised under PSS Act 2007 As you are aware, in terms of section 4 of the Payment and Settlement Systems… Read More »

Co-operative Banks – Interest Rate on Deposits : RBI master Direction

RBI/DCBR/2015-16/23 Master Direction DCBR.Dir.No.1/13.01.000/2015-16 May 12, 2016 Master Direction – Reserve Bank of India (Co-operative Banks – Interest Rate on Deposits) Directions, 2016 In exercise of the powers conferred by Sections 21 and 35 A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is… Read More »

overdue Export Advances :Quarterly Statement by AD

Quarterly Statement showing details of overdue Export Advances As per  Exports of Goods and Services : RBI new directions  following is the format for AD shall exercise proper due diligence and ensure compliance with KYC and AML guidelines so that only bona-fide export advances flow into India. Doubtful cases as also instances of chronic defaulters… Read More »

Format of Softex Forms submitted in bulk for royalty receipt

Softex Forms submitted in bulk for royalty receipt  As per RBI  A.P. (DIR Series) Circular No.68 [(1)/23(R)] Dated 12.05.2016 B.5 SOFTEX Forms (i) All software exporters shall file single / bulk SOFTEX form in the form of a statement in excel format to the competent authority for certification. Since the SOFTEX data from STPI/SEZ are… Read More »

Exports of Goods and Services : RBI new directions

Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015 RBI/2015-16/395 A.P. (DIR Series) Circular No.68 [(1)/23(R)] May 12, 2016 To All AD Category – I Authorised Dealer Banks Madam/ Sir Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular No. 11 dated… Read More »

Interest Rate on Deposits for Co-operative Banks : Master Direction

Comprehensive Master Directions on Interest Rate on Deposits for Co-operative Banks The Reserve Bank of India today issued the Master Directions (MD) on Co-operative Banks – Interest Rates on Deposits and Advances. The Master Directions issued today consolidates all relevant instructions issued by the Reserve Bank of India so far on the subject and will… Read More »

Category: RBI

Appointment of Judges in the Supreme Court

Appointment of Judges in the Supreme Court In exercise of the powers conferred by clause (2) of article 124 of the Constitution of India, the President is pleased to appoint Shri Justice Ajay Manikrao Khanwilkar, Chief Justice of the Madhya Pradesh High Court, to be a Judge of the Supreme Court of India with effect… Read More »

CBDT asks issues from public on Income Declaration Scheme 2016 & Direct Tax Dispute Resolution Scheme 2016

Stake holders and general public requested to bring-out issues/points by 25th May, 2016 which in their opinion would require further clarification/guidance in Income Declaration Scheme 2016 & the Direct Tax Dispute Resolution Scheme 2016; Both the Schemes are expected to come into force on the 1st of June, 2016 after the Finance Act 2016 receives… Read More »

Display of Certificate of Registration : Delhi Vat

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE & TAXES (POLICY BRANCH) VYAPAAR BHAWAN I.P. ESTATE NEW DELHI 110002 No.F.3(667)/Policy/VAT/2016/200-205 CIRCULAR No. 4 of 2016-17 Dated: 10-05-2016 Sub: Display of Certificate of Registration reg. In compliance of Rule 14(3) of Delhi Value Added Tax Rules, 2005 all the ACs/ward incharges are hereby directed… Read More »

Companies Incorporation Rules 2014

Rules under Companies Act 2013 CHAPTER II : INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO COMPANIES (INCORPORATION) RULES, 2014 n exercise of the powers conferred under section 3, section 4, sub-sections (5) and (6) of section 5, section 6, sub-sections (1) and (2) of section 7, sub-sections (1) and (2) of section 8, clauses (a)… Read More »

SS-2 (Secretarial Standard -2) on General Meetings

PRESS RELEASE, DATED 1-7-2015 Secretarial Standard-2 (SS-2) on “General Meetings Following is the text of the Secretarial Standard-2 (SS-2) on “General Meetings”, issued by the Council of the Institute of Company Secretaries of India and approved by the Central Government. Adherence by a company to this Secretarial Standard is mandatory, as per the provisions of… Read More »

Quorum for meetings of Board

Section – 174, Companies Act, 2013 (Enforced with effect from 1-4-2014) Quorum for meetings of Board 174. 1(1) The quorum for a meeting of the Board of Directors of a company shall be one-third of its total strength or two directors, whichever is higher, and the participation of the directors by video conferencing or by other… Read More »

What is Promissory note ?

Section – 4, NEGOTIABLE INSTRUMENTS ACT, 1881 ” Promissory note “ 4. A ” promissory note ” is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or… Read More »

What is Bill of exchange ?

Section – 5, NEGOTIABLE INSTRUMENTS ACT, 1881 ” Bill of exchange “ 5. A ” bill of exchange ” is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to… Read More »