Search Results for Tag : Transactions
News
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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: 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
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
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
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
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
Top Story
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
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
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
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
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
Notifications & Circulars
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Framework for considering unaffected price for transactions upon confirmation of market rumour(21.05.2024)
1. In terms of Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations"), as amended by SEBI .....
Tags : Framework, Unaffected price, Transactions
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
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