Daily Archives: August 2, 2018

Banks shall use Foreign Currency conversion rate announced by FBIL : RBI

By | August 2, 2018

RBI/2018-19/34 DBR.Ret.BC.No.01/12.01.001/2018-19 August 02, 2018 The Chairperson / CEOs of all Scheduled and Non- Scheduled Banks Dear Sir/Madam, Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities– Reference rate for INR/USD and exchange rate of other major currencies. Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be… Read More »

Category: RBI

Fugitive Economic Offenders Act 2018 : Notification : Download/Print

By | August 2, 2018

Fugitive Economic Offenders Act 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 1st August, 2018/Shravana 10, 1940 (Saka) The following Act of Parliament received the assent of the President on the 31st July, 2018, and is hereby published for general information:— THE FUGITIVE ECONOMIC OFFENDERS ACT, 2018 NO. 17 OF 2018 [31st… Read More »

Specific Relief (Amendment) Act 2018 :Notification : Download /Print

By | August 2, 2018

Specific Relief (Amendment) Act 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 1st August, 2018/Shravana 10, 1940 (Saka) The following Act of Parliament received the assent of the President on the 1st August, 2018, and is hereby published for general information:— THE SPECIFIC RELIEF (AMENDMENT) ACT, 2018 NO. 18 OF 2018 [1st… Read More »

Exp. incurred on education of director’s son not allowed as Business Expense : BOMBAY HC

By | August 2, 2018

Exp. incurred on education of director’s son not allowed as Business Expense In the case in hand, Appellants-Assessee is a company manufacturing copper foils. Son of one of the directors was sent to USA for completing course in Business Administration which was ‘general’ in nature and had no direct nexus with the business activities of… Read More »

NO GST on Project Management Consultancy services for Pradhan Mantri Awas Yojna : AAR

By | August 2, 2018

Project Development and Management Consultancy services (‘PDMC’) provided by Applicant to recipient under the Contract for AMRUT; and the Project Management Consultancy services (‘PMC’) under the Contract for PMAY would qualify as an activity in relation to function entrusted to Panchayat or Municipality under Article 243G or Article 243W respectively, of the Constitution of India. AUTHORITY FOR ADVANCE… Read More »