Tag Archives: NPA

No Tax on Interest accrued on banks NPA on notional basis

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Belgaum v. Shri Siddeshwar Co-Operative Bank Ltd. ANAND BYRAREDDY AND L. NARAYANA SWAMY, JJ. IT APPEAL NOS. 200004 TO 200008 OF 2014 & 200001 OF 2015 JUNE  22, 2016 Ameet Kumar Deshpande and Y.V. Raviraj, Advocates for the Appellant. G. Venkatesh and A. Shankar, Advocates for the Respondent.… Read More »

Credit facility become NPA , preference shares issued would also be treated as NPI

Source Reserve Bank of India RBI/2015-16/283 DBR.No.FID.FIC 5/01.02.00/ 2015-16 January 07, 2016 All-India Term-Lending and Refinancing Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir/ Madam Master Circular- Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs- Amendment Please refer to Paragraph No. (iii) of Master Circular DBR.No.FID.FIC.3/01.02.00/2015-16 dated July 01, 2015… Read More »