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CBDT kept Revised PAN Allotment procedure in Abeyance
CBDT kept Revised PAN Allotment procedure in Abeyance Government Decides to Keep in Abeyance the Decision to Change the Procedure for Pan Allotment Till Further Orders – (31-Jan-2014) The Central Board of Direct Taxes (CBDT) has decided to keep in abeyance the decision to change the procedure for PAN allotment till further orders. Accordingly, the operation of Circular No. 11 dated 16.01.2014issued to PAN service providers has been directed to be put on hold till further orders. In the meantime, the old pr...
PAN Application fees revised upward
PAN Application Fees Revised NSDL vide its circular No.: NSDL/TIN/2014/004 dated 15th January 2014 has informed that the Income Tax Department (ITD) has revised PAN application fees as follows :- o    From Rs. 96 to 105/- (For dispatch of PAN card in India) o    From Rs. 962 to 971/- (For dispatch of PAN card outside India)   Both the above charges are inclusive of service tax
SEBI simplifies account opening process for investors
SEBI simplifies account opening process for investors Moving towards a common Know Your Client (KYC) framework for the entire securities market, SEBI simplified investor account opening form by doing away with details about income and occupation of the applicant for the purpose of centralized KYC registration agency. The Securities and Exchange Board of India (Sebi), in a circular, has given six months time to various market intermediaries to bring the changes in the KYC form.
SEBI Monetary relief to investors having claims upto Rs.10 lac
  SEBI  Monetary relief to investors having claims upto Rs.10 lac Arbitration Mechanism and Investor Grievance Redressal Mechanism With a view to streamline the investor grievance redressal mechanism at Stock Exchanges and make it more effective from the angle of investor protection, SEBI has decided to give monetary relief  to investors having claims upto Rs.10 lac, during the course of proceedings from the Investor Protection Fund ofStock Exchange. Further, SEBI has decided...
CBDT Notifies Rules For General Anti Avoidance Rules (GAAR)
  CBDT Notifies Rules For General Anti Avoidance Rules (GAAR)   Vide Notification dated 23.09.2013 issued by the CBDT, Rules 10U to 10UC have been inserted in the Income-tax Rules, 1962 to provide for the entire procedure for monitoring the General Anti Avoidance Rules  (GAAR). The relevant forms have also been notified. The said Rules will come into effect on 1st April 2016.—————————— Notification No. 75/2013, Date – ...
RBI bans zero % EMI schemes &: Fees on debit card transactions
  RBI bans zero % EMI schemes &amp: Fees on debit card transactions RBI/2013-14/292 DBS.CO.PPD No. 3578 /11.01.005/2013-14 September 17, 2013 The Chairman/Chief Executive All Scheduled Commercial Banks (Excluding RRBs) / Local Area Banks Madam/Dear Sir, Pernicious practices of select banks deterring customer protection and accounting integrity Please refer to our circular DBS.CO.PPD No. 17882/11.01.005/2012-13 dated June 19, 2013, wherein we had observed certain disquieting features in certa...
Customs Duty Free Allowance Limit & Duty rate for Pasasngers
  Customs Duty Free Allowance Limit & Duty rate for Pasasngers [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the   10th September, 2013 Corrigendum G.S.R. – In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 90/2013 – Customs (N.T.), dated the 29th August, 2013, published in the Gazette of India...
Supreme Court of India to be Allotted A Customized Pin Code Tomorrow on 27th Sept, 2013
  Supreme Court of India to be Allotted A Customized Pin Code Tomorrow on 27th Sept, 2013 The Department of Posts, Ministry of Communications & Information Technology, will allot a ‘Customized Pin Code’ to the Supreme Court of India here tomorrow. This dedicated Pin Code of the Supreme Court will be ‘110 201’. Chief Justice of India, Shri Justice P. Sathasivam and Shri Kapil Sibal, Minister of Communications & Information Technology, will be present on the occasion at th...
The home loan interest rates may go up – SBI raised its base rate
  The home loan interest rates may go up – SBI raised its base rate The State Bank of India raised its base rate by 10 basis points thereby raising its lending rate and also raised the interest offering on deposits by 0.25-1 percentage point across various maturities. The other housing finance companies may also hike the interest rates. Home buyers and existing home loan customers may therefore expect for a hike in rates by their bank or housing finance company as they may not be very far from raising th...
Government approves 10 percent DA hike
  Government approves 10 percent DA hike,  The government on Friday approved a proposal to hike dearness allowance to 90 percent from existing 80 percent, a move that would benefit about 50 lakh Central Government employees and 30 lakh pensioners. “The Union Cabinet approved the proposal to increase dearness allowance to 90 percent at its meeting here. The hike would be effective from July 1, this year,” a source said. According to the source, the increase in DA to 90 percent would result in...

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