Notification & Circulars

Quarterly BSR-1: Outstanding Credit of Scheduled Commercial Banks for June 2016

Notification No#2016-2017/1277 22 November 2016

The Reserve Bank of India today released its web publication ‘Quarterly BSR-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), June 2016’. The BSR-1 survey aims to get information regarding spatial distribution of banks credit based on the details, such as, occupation/activity a..

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Special measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments (PPIs) in India (ii) Special measures for merchants

Notification No#1288/02.14.006/2016-17 22 November 2016

RBI/2016-17/150 DPSS.CO.PD.No.1288/02.14.006/2016-17 November 22, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Dear Madam / Sir, Special measures to incenti..

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Adminissibilty of expenditure incurred by a firm on Keyman Insurance Policy in the case of a Partner

Notification No#38/2016 22 November 2016

CIRCULAR NO. 38/2016 F.No.279/Misc./ 140/2015-ITJ Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated 22nd November, 2016 Subject: Admissibility of expenditure incurred by a Firm on Keyman Insurance Policy in the case of a Partne..

Posted in Income Tax

Income-tax ( 32nd Amendment) Rules, 2016

Notification No#106 /2016 21 November 2016

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st November, 2016 INCOME-TAX S.O. 3498(E).—In exercise of the powers conferred by section 295 read with section 9A of the Income-tax Act, 1961 (43 of 1961)..

Posted in Income Tax

Addendum to OM dated 18th November, 2016 on the subject cancellation of legal tender character of high denomination bank notes

Notification No#10/3/2016-Cy.I 21 November 2016

F. No. 10/3/2016-Cy.I Government of India Ministry of Finance Department of Economic Affairs North Block, New Delhi Dated: 21st November, 2016 OFFICE MEMORANDUM Subject : Addendum to OM dated 18h November, 2016 on the subject “Cancellation of legal ..

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IBBI (Insolvency Professional Agencies) Regulations, 2016 dated 21.11.2016

Notification No#IBBI/2016-17/GN/REG002 21 November 2016

GAZETTE. OF INDIA EXTRAORDINARY PART III, SLCTION 4 PUBLISHED B' AUTHORITY NEW DELHI, MONDAY, NOVEMBER 21, 2016 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 21st November. 2016 Insolvency and Bankruptcy Board of India (Insolvency Prof..

Posted in Corporate Law

FAQs on Withdrawal of Legal Tender Status of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 21, 2016)

Notification No#21.11.16 21 November 2016

1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities...

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Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Specified Bank Notes (SBNs) – Cash withdrawal for purpose of celebration of wedding

Notification No#1320/10.27.00/2016-17 21 November 2016

RBI/2016-17/145 DCM (Plg) No.1320/10.27.00/2016-17 November 21, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks..

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Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Revisions

Notification No#1323/10.27.00/2016-17 21 November 2016

RBI/2016-17/146 DCM (Plg) No.1323/10.27.00/2016-17 November 21, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks..

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Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances

Notification No#DBR.No.BP.BC.37/21.04.048/2016-17 21 November 2016

RBI/2016-17/143 DBR.No.BP.BC.37/21.04.048/2016-17 November 21, 2016 All Entities Regulated by the Reserve Bank of India Madam / Dear Sir, Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances It ha..

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