F.No. 504/090/2007-FTD-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax & Tax Research Division) ***** 19th February, 2016 Clarifications for implementation of FATCA and CRS Currency For the upcoming reporting in March 2015 and May 2016, all reporting has to be done in INR. For the reporting…
DetailsIn light of Prime Minister’s “Digital India” campaign on promoting e-governance for providing last mile connectivity through extensive use of ICT (Information and Communications Technology) platforms, Pension Fund Regulatory and Development Authority (PFRDA) has been pursuing the development and operationalization of online transaction facilities for the prospective as well as existing subscribers of NPS.PFRDA introduced…
DetailsThe Government of India has announced the repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” through reverse auction for an aggregate amount of Rs. 3,990.72 crore (face value). The repurchase by the Government of India will be undertaken to redeem the Government Stocks prematurely by utilizing surplus cash balances. The above repurchase of the…
DetailsGOVERNMENT OF INDIAMINISTRY OF FINANCE(Department of Economic Affairs)(Budget Division) New Delhi, the February 17, 2016. NOTIFICATION Repurchase of Government Stocks F. No.4(5)-W&M/2015: The Government of India hereby notifies repurchase of (i) 7.59 per cent Government Stock 2016, (ii) 10.71 per cent Government Stock 2016, and (iii) 7.02 per cent Government Stock 2016 (herein after called…
Detailshe Employees’ Provident Fund Organisation (EPFO) on Tuesday announced a higher interest rate of 8.8 per cent for this fiscal (2015-16), marginally up from 8.75 per cent in the previous fiscal (2014-15). Nearly 5 crore subscribers regularly contribute to the retirement fund. Union Labour Minister Bandaru Dattatreya said the hike is an ‘interim one’ and…
DetailsInterest rate on savings schemes based on laudable Social Development or Social Security Goals including Sukanya Samriddhi Yojana, the Senior Citizen Savings Scheme and the Monthly Income Scheme left untouched by the Government. The National Savings Schemes (NSSs) regulated by the Ministry of Finance offer complete security of investment combined with high attractive returns.…
DetailsSince 1st April, 2014 till date, the Central Board of Direct Taxes (CBDT) has resolved 180 cases through a Mutual Agreement Procedure (MAP). The total amount of income locked- up in dispute in these cases is approximately Rs. 5,000 crore. The resolved cases pertain to various sectors of the economy like software services, IT enabled…
DetailsCircular No. 1 /2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 13th February, 2016 Subject: Clarification of the term ‘initial assessment year in section, 80IA (5) of the Income-tax Act, 1961 Section 801A of the Income-tax Act, i961 (‘Act’}, as substituted by the…
DetailsTo, All Authorised Dealer Category – I Banks Madam/Sir, Regulatory relaxations for start-ups- Clarifications relating to acceptance of payments Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2000, notified by the Reserve Bank vide Notification No.…
DetailsTo, All Authorised Dealer Category – I Banks Madam/Sir, Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, notified by the Reserve Bank vide…
Details