Search Results for Tag : Transaction
Top Story
Government bans cash transactions above Rs. 3 Lacs w.e.f. 1st April 2017(01.02.2017)
The Union Government in its the budget for the Year 2017-2018 has yet again cracked the whip on black money by declaring that all cash transactions ov.....
Tags : Cash transaction, Limit
Government bans cash transactions above Rs. 3 Lacs w.e.f. 1st April 2017(01.02.2017)
The Union Government in its the budget for the Year 2017-2018 has yet again cracked the whip on black money by declaring that all cash transactions ov.....
Tags : Cash transaction, Limit
RBI directs daily reporting of individual transactions by banks under the Liberalised Remittance Scheme (LRS)(12.04.2018)
In order to improve monitoring and to ensure compliance with the LRS limits, RBI has decided to put in place a daily reporting system by authorised de.....
Tags : Scheme, Transaction, Daily Reporting
Government E-Marketplace Records Four-Fold Increase in Total Value of Transactions in 2018-2019(15.04.2019)
Government e-Marketplace (GeM), the national public procurement portal has closed the FY 2018-2019 on a high note. The year witnessed a four-fold incr.....
Tags : GeM, Transactions, Increase
Ministry of Electronics and Information Technology notifies the incentive scheme for promotion of RuPay Debit cards and low-value BHIM-UPI transactions (P2M)(17.12.2021)
The Union Cabinet, chaired by the Prime Minister has approved an incentive scheme to promote RuPayDebit cards and low-value [uptoRs. 2,000) BHIM-UPI t.....
Tags : Digital transaction, Promotion, Scheme
SEBI notifies simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and nomination(17.11.2023)
The Securities and Exchange Board of India (SEBI) vide its Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2023/181 dated November, 17, 2023, has simplified th.....
Tags : SEBI, Registrars’ Association of India, Benami Transactions (Prohibitions) Act, 1988, Prevention of Money Laundering Act, 2002
Judgments
No person has right to enter into Benami transaction, except if, property is purchased in the name of wife or unmarried daughter(01.08.2018)
In instant case, Opposite Party filed title suit against the Petitioner in respect of disputed land for declaration that the Petitioner is Farzidar an.....
Tags : Declaration, Benami Transactions, Right
Mere fact that, complaint relates to a commercial transaction or breach of contract for which a civil remedy is available is not by itself a ground to quash criminal proceedings(11.01.2019)
Criminal Miscellaneous application is for quashing the order rejecting the petition filed for discharge of the Petitioner. The allegation against the .....
Tags : Commercial transaction, Breach, Proceedings, Quashing
On mere suspicion, addition for unexplained Cash Credit cannot be made(05.03.2020)
In facts of present case, the assessee is son of Shri Madhukar Rathi. The assessee filed his return of income declaring total income of Rs.56,10,180. .....
Tags : Transaction, Genuineness, Additions, Legality
The onus is always on the Assessee to substantiate with evidence to the satisfaction of the AO that cash credit is genuine(18.08.2020)
The Assessee is a society engaged in the business of manufacturing of soap. It filed its return of income on 31st August, 2010 declaring the total inc.....
Tags : Transaction, Genuineness, Additions
Burden is upon the Assessee to prove identity of the creditor, creditworthiness of the creditors and genuineness of the transaction(23.09.2020)
The Assessee is a company and filed return of income showing loss of Rs.35,53,560. The Assessing Officer, (AO) noted that, in assessment year under ap.....
Tags : Genuineness, Transaction, Deletion, Legality
Collusive or sham transactions with a corporate debtor will not amount to "financial debt" within the meaning of the Insolvency and Bankruptcy Code 2016(IBC)(01.02.2021)
CIRP has been initiated against the Corporate Debtor on an application filed by an Operational Creditor under section 9 of Insolvency and Bankruptcy C.....
Tags : Financial Debt, Collusive or sham transactions
Difference between sales tax charged and NPV paid not includible as transaction value(06.10.2015)
Distinguishing three judgments of the Supreme Court that the difference between amounts collected by Assessee from its customers as sales tax and the .....
Tags : excise, sales tax, net present value, transaction value
Genuineness of property transaction cannot be doubted merely because thumb impression was affixed instead of signature(17.08.2021)
Present appeal arises out of the judgment and order of the High Court whereby the appeal filed by the probate applicant was allowed in his favour by c.....
Tags : Genuineness, Property Transaction, Thumb Impression
Transfer pricing adjustment should be restricted only to the international transactions and not the entity level transactions(01.08.2022)
In facts of present case, the assessee filed its return declaring loss of Rs.1.55 crore. Certain international transactions were reported in Form No.3.....
Tags : Assessment, Transfer pricing, International Transaction
Burden is on the assessee to establish identity, creditworthiness and genuineness of the transaction for sum credited in the books of accounts to the satisfaction of the Assessing Officer(10.08.2022)
The assessee is an individual, who has not filed return under Section 139 of the Income Tax Act, 1961 (IT Act). Search and seizure operation under Sec.....
Tags : Assessment, Transaction, Genuineness
Assessable value for the related party sales can be established by referring to the normal price under Section 4(1)(a) of the Central Excise Act(05.12.2022)
The present Civil Appeal originates from the impugned order passed by the Customs, Excise and Service Tax Appellate Tribunal, Chandigarh (“CESTAT”). T.....
Tags : Transactions, Valuation, Method
On mere recording of the inventory in the books of accounts, the transaction in question would not become stock in trade(04.05.2023)
The Revenue has preferred the present appeal feeling aggrieved and dissatisfied with the impugned judgment passed by the High Court by which, the High.....
Tags : Assessment, Addition, Transaction
For levy of service tax, a specific amount has to be agreed between service recipient and service provider(27.11.2018)
The Appellant 'Premium Real Estate Developers', New Delhi is a partnership firm and is in the business of real estate trade. The issue involved in thi.....
Tags : Transaction, Tax, Levy
Number of transactions, not number of documents for stamp duty(11.08.2015)
In a case where the mortgagor borrowed from 13 banks in one instrument, the agreement fell under Section 5 of the Gujarat Stamp Act, 1958, the Court h.....
Tags : stamp duty, number of transactions, one instrument
Any transaction done with respect to the assets of the Corporate Debtor/Corporate Applicant after imposition of moratorium is invalid(26.03.2021)
The present Appeal is filed against the Order passed by the National Company Law Tribunal, Hyderabad (Adjudicating Authority), whereby the Adjudicatin.....
Tags : Imposition, Moratorium, Transaction
Transaction which is recorded in defiance of prohibitory order shall have to be branded as illegal, if not void(10.03.2017)
In facts of present case, Petitioner is objecting to decision rendered by Debts Recovery Appellate Tribunal. Petitioner is purchaser of flat. The flat.....
Tags : Deed, Transaction, Validity
Transactions valued below minimum circle rate to be registered(23.12.2015)
The Delhi High Court disposed of petitions against a government order purporting to take away the Registering Officer’s discretion to register propert.....
Tags : Stamp act, minimum circle value, transaction value
A tax on sale or purchase of goods includes a tax for transfer of right to use goods(04.12.2019)
The question involved in the appeal is whether it is open to the State of Karnataka to levy Sales Tax in view of the Time Charter Agreement dated 8th .....
Tags : Agreement, Transaction, Tax, Levy
Provision of hostel facilities to nurses so as to facilitate better medical care is a positive duty enjoined upon hospital and cannot be linked to any commercial activity(14.11.2019)
In present matter, the Appellant’s case is that Respondent No. 1/Opposite Party No. 1 had developed two buildings ‘Madhuvan’ with thirty two ‘1 BHK’ f.....
Tags : Complaint, Maintainability, Transaction, Nature
News
Lok Sabha Passes Benami Transactions Amendment Bill(28.07.2016)
Lok Sabha has passed the Benami Transactions Amendment Bill with the new legislation having provisions for confiscating 'benami' (proxy) assets.
Tags : Lok Sabha , Benami Transactions Amendment Bill
ITAT, Mumbai: LTCG on Penny Stock Transaction Cannot be Denied Exemption(15.03.2022)
Income Tax Appellate Tribunal, Mumbai has ruled that long term capital gains arising from a penny stock transaction cannot be denied exemption under t.....
Tags : Income Tax Appellate Tribunal, LTCG on Penny Stock Transaction
SEBI Clarifies Regarding Transactions in Mutual Funds Facilitated by Online Platforms(16.03.2022)
Securities and Exchange Board of India has clarified regarding transactions in mutual funds facilitated by online platforms. The Board has said paymen.....
Tags : Securities and Exchange Board of India, Transactions in Mutual Funds
Madras High Court Strikes Down Section 32(2) Of Benami Transaction Act as Unconstitutional(05.04.2022)
Madras High Court has declared that Section 32(2) of the Prohibition of Benami Property Transactions Act, 1988 as unconstitutional and directed the go.....
Tags : Madras High Court, Section 32(2) of the Prohibition of Benami Property Transactions Act, 1988, unconstitutional.
ITAT: Onus to Prove Authenticity of Loan Transactions is on Assessee(25.05.2022)
Income Tax Appellate Tribunal (ITAT), Raipur bench has held that if AO doubts the authenticity of loan transactions, then, the onus is upon the assess.....
Tags : ITAT, Loan Transaction, Assessee, Onus
ITAT: Currency Derivative Can be Treated As An Eligible Transaction U/S 43(5)(30.05.2022)
Income Tax Appellate Tribunal, Delhi has observed that currency derivatives can be treated as eligible transactions under Section 43(5) of the Income .....
Tags : Income Tax Appellate Tribunal, transactions
ITAT, Bangalore: Corporate Guarantee Falls Within Ambit of International Transaction(19.04.2022)
Income Tax Appellate Tribunal, Bangalore has observed that corporate guarantee falls within the extent and ambit of international transaction and Arm’.....
Tags : Income Tax Appellate Tribunal, Arm’s Length Price, international transaction
Transaction Can’t Be Treated As Bogus Merely Based On Report Of Investigation Wing: ITAT(13.09.2018)
Jaipur bench of ITAT has held that a transaction cannot be treated as bogus only on the basis of the report of Investigation Wing.
Tags : NCLT, Bogus Transactions
NCLAT: NCLT Doesn't Have Power to Classify Transaction As Preferential Transaction(16.05.2022)
National Company Law Appellate Law Tribunal, has observed that NCLT does not have the power to suo-moto classify a transaction as a Preferential Trans.....
Tags : National Company Law Appellate Law Tribunal, Section 44, Insolvency and Bankruptcy Code, 2016, Preferential Transaction
NCLT, Chennai: No Conflict Among Prohibition of Benami Property Transaction Act and IBC, 2016(06.05.2022)
National Company Law Tribunal, Chennai has ruled that there is no conflict between the Prohibition of Benami Property Transaction Act, 1988 and the In.....
Tags : National Company Law Tribunal, Prohibition of Benami Property Transaction Act, 1988, Insolvency and Bankruptcy Code, 2016, attachment of property
SC Declares Section 3(2) of Benami Transactions Prohibition Act as Unconstitutional(23.08.2022)
Supreme Court has held that Section 3(2) of the Benami Transactions (Prohibition) Act 1988 as unconstitutional on the ground of being manifestly arbit.....
Tags : Supreme Court, Benami Transaction, Unconstitutional
RBI Eases Authentication Rules for Online Card Transactions(07.12.2016)
Reserve Bank of India (RBI) has removed two-factor authentication for online card transactions involving sums up to Rs2,000 in a move aimed at simplif.....
Tags : Reserve Bank of India, Online Card Transactions
Government Waives Service Tax on Card Transactions of up to Rs 2000(08.12.2016)
Government has exempted card payments up to Rs 2,000 from Service Tax in its efforts to make cashless economy a reality.
Tags : Government, Service Tax , Card Transactions
MP HC Upholds Restrictions on Merchanting Trade Transactions as Per Import/ Export Policy(17.11.2020)
Madhya Pradesh High Court has held that once import/ export of a particular product is barred by the Government, the question of permitting 'Merchanti.....
Tags : Madhya Pradesh High Court, Restrictions on Merchanting Trade Transactions
ITAT: Forex Transaction to Hedge Foreign Currency Risk is Not Speculative(10.08.2022)
Income Tax Appellate Tribunal (ITAT), Chandigarh Bench while allowing deduction, has held that the Forex transaction to hedge foreign currency risk is.....
Tags : ITAT, Forex Transaction, Hedge Foreign Currency
ITAT: Domestic Transaction from a Related Party is Not a Specified Domestic Transaction(10.08.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that a domestic transaction from a related party is not a specified domestic transaction u.....
Tags : ITAT, Income-Tax, domestic Transaction
Top Pvt Banks Slap Charges on Cash Transactions, Caps Free Transactions(02.03.2017)
Banks including HDFC, ICICI, Axis began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transac.....
Tags : Banks, Cash Transactions
NCDRC: Bank Liable for Fraudulent Online Transaction if Account Holder's Fault Not Proved(11.01.2021)
National Consumer Disputes Redressal Commission (NCDRC) has held that in case of fraudulent transactions leading to withdraw of money from a person's .....
Tags : National Consumer Disputes Redressal Commission, Fraudulent Online Banking Transaction
Bombay HC: Mere Repayment of Loan Amount ‘No Ground’ For Quashing Cheating Case(29.03.2017)
Bombay High Court has held that re-payment of loan amount will not have any adverse effect on a criminal prosecution and observed that offences involv.....
Tags : Bombay High Court, banking and loan transactions
ITAT Delhi Allows Addition Since Share Transactions are Sham Transactions to evade Tax(27.06.2019)
Income Tax Appellate Tribunal (ITAT) has allowed an addition by finding that the share transaction leading to long term capital gain were actually sha.....
Tags : ITAT Delhi, Sham Transactions
CBDT: Now File Statement of Financial Transaction at Tin Facilitating Centers(02.06.2017)
Central Board of Direct Taxes (CBDT) has enabled filing of Statement of Financial Transaction (SFT) at Tin Facilitating Centers (TIN-FC).
Tags : Central Board of Direct Taxes, Statement of Financial Transaction, Tin Facilitating Centers
Mere Financial Assistance to Buy Property can't be Termed Benami Transaction: SC(10.04.2019)
Supreme Court has observed that mere financial assistance to buy a property cannot be the sole determinative factor/circumstance to hold the transacti.....
Tags : Supreme Court, Benami Transactions
Govt Extends Due Date for Filing Statement of Financial Transaction to June 30(01.06.2017)
Central Government has extended last date for filing Statement of Financial Transaction (SFT) Returns to 30th June 2017.
Tags : Central Board of Direct Taxes, Financial Transaction
Cal. HC: Acquiring Property in Name of Wife is Not Benami Transaction(09.06.2023)
Calcutta High Court has held that if a husband supplies the consideration money for acquiring property in the name of his wife, such fact does not nec.....
Tags : Calcutta High Court, Benami Transaction, Wife
RBI Permits Residents to Conduct Foreign Currency-Rupee Swaps Transactions with Multilateral Bodies(06.11.2015)
Reserve Bank of India (RBI) has permitted domestic entities to conduct foreign currency-rupee swaps with multilateral agencies and allow hedging of lo.....
Tags : RBI, Foreign Currency-Rupee Swaps Transactions
SC: Genuineness of Transaction Cannot Be Doubted Merely Because Thumb Impression Affixed(18.08.2021)
Supreme Court has observed that genuineness of property transaction cannot be doubted merely because thumb impression was affixed instead of signature.....
Tags : Supreme Court, Genuineness of Property Transaction
ITAT Erases Addition by TPO on Transaction of Rendering Marketing Services of Channel Placement Right(23.01.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has deleted the addition by Transfer Pricing Officer on the ground that the transaction of rendering mark.....
Tags : Income Tax Appellate Tribunal, Addition on Transaction of Rendering Marketing Services
All. HC: Can’t Refuse Anticipatory Bail Merely Over Non-Payment of Money Under a Contract(03.08.2023)
Allahabad High Court while observing that it is becoming a general practice to set criminal law into motion for putting pressure on parties to commerc.....
Tags : Allahabad High Court, Anticipatory Bail, Non-Payment, Commercial Transaction
CBDT Issues New Income Tax Reporting Norms for High Value Transactions(04.01.2016)
Central Board of Direct Taxes (CBDT) has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to.....
Tags : Central Board of Direct Taxes, High Value Transactions
Kerala High Court: Banks Cannot Make Customer Pay for Fraudulent Online Transaction(18.10.2019)
Kerala High Court has held that banks cannot recover the money withdrawn through fraudulent online transactions from cash credit and overdraft account.....
Tags : Kerala High Court, Online Transaction
RBI Revises Norms for 'When issued' Security(11.12.2015)
Reserve Bank of India (RBI) in order to encourage trading in ‘When Issued’ transactions in government securities, has allowed banks to take short posi.....
Tags : Reserve Bank of India , ‘When Issued’ transactions
ITAT: Single Transaction of Buying and Selling of Shares Can’t be Treated as Business Activity(29.09.2021)
Income Tax Appellate Tribunal (ITAT), Chennai has held that a single transaction of buying and selling of shares cannot be treated as a business acti.....
Tags : Income Tax Appellate Tribunal, Single Transaction of Buying and Selling of Shares
All. HC: Assessee Must Prove Transaction Beyond Doubt to Claim ITC(20.10.2023)
Allahabad High Court has held that onus is to be discharged by the assessee to prove and establish beyond doubt the actual transaction and physical mo.....
Tags : Allahabad High Court, Input Tax Credit, Transaction
CCI Issues Combination Regulations to Streamline Norms for M&A Filings(13.01.2016)
Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016, has been no.....
Tags : Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2016
Madras HC: Onus to Prove Genuineness of Transaction Solely Lies on Assessee(01.09.2021)
Madras High Court has held that the onus to prove the genuineness of transaction solely lies on the assessee, mere statutory approvals do not sanctify.....
Tags : Madras High Court, Genuineness of Transaction
Madras HC: Benami Transactions (Prohibition) Amendment Act, 2016 Can Be Applied Retrospectively(06.09.2021)
Madras High Court has opined that in respect of the benami transactions entered into prior to the Benami Transactions (Prohibition) Amendment Act, 201.....
Tags : Madras High Court, Benami Transactions (Prohibition) Amendment Act, 2016
RBI Relaxes Reporting Requirement of NEFT Transactions(18.03.2016)
Reserve Bank of India (RBI) has said it is discontinuing provision where banks had to submit data pertaining to NEFT (National Electronic Fund Transfe.....
Tags : Reserve Bank of India, NEFT Transactions
SC: Heightened Caution Must be Exercised By Police When Dispute Involves Unethical Transactions(20.02.2024)
Supreme Court has observed that ‘heightened’ caution must be exercised by the police while registering cases that involve the dispute of unethical tra.....
Tags : Supreme Court, Heightened Caution, Unethical Transactions
RBI Extends Availability of Relaxed Terms for Securitisation Transactions by NBFCs to June 30, 2020(02.01.2020)
Reserve Bank of India has extended the availability of relaxed terms for securitisation transactions or sale of assets by non-bank lenders to banks to.....
Tags : RBI, Securitisation Transactions
Parliament Passes Benami Transactions Bill and Institutes of Technology Bill(03.08.2016)
Parliament has passed the Benami Transactions (Prohibition) Amendment Bill, 2016 and the Institutes of Technology (Amendment) Bill, 2016.
Tags : Parliament, Benami Transactions (Prohibition) Amendment Bill, 2015 , the Institutes of Technology (Amendment) Bill- 2016
Equalisation Levy of 6 % to Come in Force from Tomorrow(31.05.2016)
Equalisation levy of 6 per cent on services pertaining to cross border digital transactions will come into effect from June 1.
Tags : Equalisation levy , cross border digital transactions
Bombay HC to ASG: Find Out Exact Rate at Which Securities Transaction Tax Should be Collected(24.08.2018)
Bombay High Court has told the Additional Solicitor General (ASG) to take instructions from the Central Board of Direct Tax by August 28 on the exact .....
Tags : Bombay High Court, Additional Solicitor General, Central Board of Direct Tax, Securities Transaction Tax
SC: Sale/Gift of Vehicle Shall Not be Invalidated on Mere Failure of Transfer Vehicle Registration(11.04.2024)
Supreme Court has observed that the sale/gift transaction will not get invalidated merely on the ground that there has been a failure to get a transfe.....
Tags : Supreme Court, Vehicle Registration, Gift Transaction, Sale Transaction
Supreme Court: Farmer Entering into Buyback Transaction with Seed Company is 'Consumer'(11.03.2020)
Supreme Court has held that a farm is a 'consumer' for filing complaints under the Consumer Protection Act, 1986 even when he has entered into a buyba.....
Tags : Supreme Court, Farmers, Buyback Transaction
Notifications & Circulars
Online Statement Of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers(25.04.2017)
With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online viewing of the s.....
Tags : Pension Yojana, Online Statement, Transaction, Launch
CBDT notifies transactions for which the condition of chargeability to STT for claiming exemption under Section 10(38) of the Income Tax Act, 1961 shall not apply(06.06.2017)
Section 10(38) of the Income-tax Act, 1961 ('the Act'), prior to its amendment by Finance Act, 2017 provided that the income arising by way of a trans.....
Tags : Transaction, Exemption, Claim
Indian Advance Pricing Agreement regime moves forward with signing of four Advance Pricing Agreements(04.09.2017)
The Central Board of Direct Taxes (CBDT) has entered into 4 more Advance Pricing Agreements (APAs) during August, 2017. Out of these 4 Agreements, 3 a.....
Tags : Agreements, Signing of, International transactions
TRAI releases Draft "The Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge (Amendment) Regulations, 2017"(18.12.2017)
1. The Telecom Regulatory Authority of India (TRAI) has today issued Draft "The Telecommunication Mobile Number Portability Per Port Transaction Charg.....
Tags : Number, Portability, Transaction Charge, Dipping Charge
Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year(16.03.2017)
The Government of India has desired that all government transactions with banks must be accounted for within the same financial year and has requested.....
Tags : Transaction, Accounts, Closing
Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2018-19)(28.03.2019)
With a view to providing greater convenience to tax payers, as in previous years, it has been decided that RBI Offices and all designated branches of .....
Tags : Government Accounts, Annual Closing, Transactions of
TRAI releases "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge (Second Amendment) Regulations, 2019(01.10.2019)
The Telecom Regulatory Authority of India (TRAI) has issued "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charg.....
Tags : Transaction Charge, Dipping Charge, Regulations
Enhancment of Security of Card Transactions(15.01.2020)
1. Over the years, the volume and value of transactions made through cards have increased manifold. To improve user convenience and increase the secur.....
Tags : Enhancement, Security, Card Transactions
Reporting and Accounting of Central Government Transactions of March, 2020(17.03.2020)
1. Please refer to Circular DGBA.GBD.No.2394/42.01.029/2018-19 dated March 20, 2019 advising the procedure to be followed for reporting and accounting.....
Tags : Transactions, Reporting, Procedure
Transaction in Corporate Bonds/Commercial Papers through RFQ platform and enhancing transparency pertaining to debt schemes(22.07.2020)
1. In order to enhance the transparency and disclosure pertaining to debt schemes and investments by mutual funds in Corporate Bonds/Commercial Papers.....
Tags : Transaction, Corporate Bonds, Transparency
Reporting Platform for OTC Derivatives - Transactions undertaken by IFSC Banking Units (IBUs) and non-deliverable derivative contracts (involving Rupee or otherwise)(18.05.2020)
1. In terms of A.P. (DIR Series) circular no.23 dated March 27, 2020, banks in India having an Authorised Dealer Category-1 license under FEMA, 1999, .....
Tags : OTC Derivatives, Transactions, IBUs
Charges on digital transactions(11.04.2017)
Digital financial transactions are a part of the Government's strategy to create histories of transactions, including the associated credit, and there.....
Tags : Digital transactions, Charges, Levy
Reporting and accounting of Central Government transactions of March 2021(18.03.2021)
1. Please refer to Circular DGBA.GBD.No.1744/42.01.029/2019-20 dated March 17, 2020 advising the procedure to be followed for reporting and accounting.....
Tags : Reporting, Accounting, Transactions
Introduction of legal entity identifier for large value transactions in centralised payment systems(05.01.2021)
1. The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide. It was conceived as a.....
Tags : Introduction, Legal Entity Identifier, Transactions
Enhancement to tokenisation of card transactions(07.09.2021)
The Reserve Bank of India (RBI) has today announced the following enhancements to the extant framework on card tokenisation services:
a. t.....
Tags : Enhancement, Tokenisation, Card transactions
Transaction in Corporate Bonds through Request for Quote platform by Portfolio Management Services(09.12.2021)
1. In order to enhance transparency pertaining to debt investments by Portfolio Management Services (PMS) in Corporate Bonds (CBs) and to increase liq.....
Tags : Transaction, Corporate Bonds, Management Services
Notification of specified financial transactions as an activity for the purposes of Section 2(1)(vi)(sa) of PMLA, 2002(03.05.2023)
In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 .....
Tags : Financial transactions, Relevant person, Activity
Minimum amount for repatriating ACU transaction amounts reduced(26.05.2016)
Minimum amounts and multiple in which the Reserve Bank of India will receive and pay for funding or repatriating excess liquidity in the Asian Clearin.....
Tags : asian clearing union, transactions, minimum, multiple
Last date for filing of updated returns (ITR-U) for A.Y. 2021-22 (i.e. for F.Y. 2020-21) is 31.03.2024(04.03.2024)
The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. To increase transparency and to .....
Tags : Submission, Updated ITRs, Financial transactions
Guidelines for computing exposure for counterparty credit risk arising from derivative transactions(10.11.2016)
Please refer to the paragraph 4 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was indicated therein t.....
Tags : Derivative transactions, credit risk, Guidelines
Directions on charging of fees for transactions settled on Immediate Payment Service and Unified Payments Interface(21.12.2016)
In line with the Central Government's objective of promotion of payments through cards and digital means over payments in cash, the Reserve Bank of In.....
Tags : Direction, Transaction, Fees
Digital Payment Transactions - Streamlining QR Code infrastructure(22.10.2020)
1.Reserve Bank had constituted a Committee (Chairperson : Prof Deepak Phatak) to review the current system of Quick Response (QR) Codes in India and s.....
Tags : Digital Payment, Transactions, QR Code
Transaction in Corporate Bonds through Request for Quote (RFQ) platform by Alternative Investment Funds (AIFs)(01.02.2023)
1. To increase the liquidity on RFQ platform of stock exchanges and to enhance the transparency and disclosure pertaining to trading in secondary mark.....
Tags : Transaction, Corporate Bonds, RFQ
Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the current financial year (2020-2021)(25.03.2021)
1. All government transactions done by agency banks for Financial Year 2020-21 must be accounted for within the same financial year. Accordingly, the .....
Tags : Annual Closing, Government Accounts, Transactions
Reporting and Accounting of Central Government transactions of March 2021 - Change of date of closure(07.04.2021)
1.This is with reference to Circular DGBA.GBD.No.S-140/42.01.029/2020-21 dated March 18, 2021 where in the date of closure for reporting residual tran.....
Tags : Reporting, Accounting, Transactions
Transactions in Government securities by Foreign Portfolio Investors: Reporting(07.06.2021)
1. Over the counter (OTC) transactions in Government securities (including State Development Loans and Treasury Bills) undertaken by market participan.....
Tags : Transactions, Government securities, FPI
Customer due diligence for transactions in virtual currencies(31.05.2021)
1. It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual.....
Tags : Customer, due diligence, Transactions
Participation of Mutual funds in repo transactions on Corporate Debt Securities(08.06.2023)
1. SEBI vide circular no. CIR/IMD/DF/19/2011 dated November 11, 2011 and CIR/IMD/DF/23/2012 dated November 15, 2012 allowed mutual funds to participat.....
Tags : Participation, Mutual funds, Repo transactions
Rules regarding quoting of PAN for specified transactions amended(15.12.2015)
To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher valu.....
Tags : Permanent account number, black money, transactions
Reporting of Transactions by agency banks to RBI(30.11.2017)
It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current tra.....
Tags : RBI, Agency Banks, Transactions
Status of March 31, 2024 for Government transactions through integration with e-Kuber(03.10.2023)
1. The 'e-Kuber' which is the Core Banking Solution platform of RBI for Government and other payments does not process any Government transactions on .....
Tags : Transactions, Integration, E-Kuber
Tokenisation - Card Transactions : Extending the scope of permitted devices(25.08.2021)
1. We invite reference to our circular DPSS.CO.PD No.1463/02.14.003/2018-19 dated January 08, 2019 on "Tokenisation - Card transactions", permitting a.....
Tags : Tokenisation, Card Transactions, Permitted Device
Securities Transaction Tax (1st Amendment), Rules, 2022(18.01.2022)
In exercise of the powers conferred section 114 of the Finance (No. 2) Act, 2004, (23 of 2004), the Central Government hereby makes the following rule.....
Tags : Rules, Amendment, Securities Transaction Tax
Settlement of Export/ Import transactions in currencies without direct exchange rate(04.02.2016)
The Reserve Bank of India has permitted AD Category-I banks to settle import and export transactions where invoicing is in a freely convertible curren.....
Tags : Export, import, transaction, direct exchange rate
Coverage on export transactions to Russia not withdrawn: Export Credit Guarantee Corporation of India(28.02.2022)
Export Credit Guarantee Corporation of India (ECGC) has clarified that the coverage on export transactions to Russia has not been withdrawn. It has be.....
Tags : Coverage, Export transactions, ECGC