Search Results for Tag : Accounts
Notifications & Circulars
Reporting of U.S. Tax Identification Numbers (TINs) for pre-existing accounts by Financial Institutions(15.01.2018)
India and USA have signed the Inter-Governmental Agreement (IGA) under FATCA in 2015. To enhance the effectiveness of information exchange and transpa.....
Tags : Tax Identification Numbers, (TINs), Accounts, Financial Institutions
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News
SC Refuses to Entertain Plea Seeking Clarification on Declaration of Loan Accounts as NPA(09.07.2021)
Supreme Court has refused to entertain a plea seeking clarification and modification of its 23rd March 2021 judgement whereby it vacated the stay on d.....
Tags : Supreme Court, Declaration of Loan Accounts as Non-Performing Assets
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NGT: Industries will have to Recycle and Maintain Water Accounts(07.10.2019)
National Green Tribunal has issued a directive wherein slaughterhouses, food processing units and other industries from where large quantities of effl.....
Tags : NGT, Water Accounts
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Supreme Court Pulls Up Delhi, Centre for ‘Sorry State of Affairs’(07.10.2019)
Supreme Court has while expressing deep anguish over the authorities in Delhi, including the Centre and the AAP Government, fighting with each other w.....
Tags : NGT, Water Accounts
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Gujarat HC Set Aside Provisional Attachment of Bank Accounts of Person Accused of Tax Evasion(03.11.2020)
Gujarat High Court has quashed the order for provisional attachment of the five bank accounts of a person accused of tax evasion under Section 74(1) o.....
Tags : Gujarat High Court, Provisional Attachment of Bank Accounts
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Non-Residents Not Required to Disclose Their Foreign Bank Accounts: ITAT(26.11.2018)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the non-residents are not required to disclose the details of their foreign bank accounts a.....
Tags : ITAT, Non Residents Bank Accounts
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Supreme Court Restrains I-T Department from Reassessing NuPower Accounts(11.10.2019)
Supreme Court has disallowed the Income Tax Department’s bid to reassess the accounts of Deepak Kochhar-owned NuPower Renewables to investigate an inv.....
Tags : Supreme Court, NuPower Accounts
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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
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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
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Judgments
The findings cannot be said to be perverse unless it is found that some relevant evidence has not been considered or that certain inadmissible material has been taken into consideration(03.01.2018)
In facts of present case, Defendants awarded to the Plaintiff the construction work of Thana Kot-Naina Devi OFC route. The Plaintiff started the execu.....
Tags : Contract, Accounts, Settlement
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Accounts under PMJDY – Precautions(29.11.2016)
Please refer to our circular DCM (Plg) No.1424/10.27.00/2016-16 dated November 25, 2016 on "Withdrawal of cash - Weekly limit". With a view to protect.....
Tags : Operation, Accounts, Limit
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Guidelines for implementation of the circular on opening of current accounts by banks(04.08.2021)
1. This is with reference to circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020, DOR. No.BP.BC.27/21.04.048/2020-21 dated November 2, 202.....
Tags : Guidelines, Opening, Current accounts
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SC Allows Caretaker Trust to Operate Bank Accounts Towards Philanthropic Causes(22.10.2020)
Supreme Court has allowed the Maharawal Khewaji Trust that manages the Rs 20,000 Crores worth property of the last ruler of the erstwhile princely sta.....
Tags : Supreme Court, Operation of Bank Accounts
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RBI to Banks: Pay Interest on Savings Account Every Quarter(16.03.2016)
Reserve Bank of India (RBI) has asked banks to pay interest on their customers’ savings accounts on a quarterly basis or shorter duration.
Tags : Reserve Bank of India, savings accounts
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Bombay HC Sets Aside Goods and Services Tax Authority's Order on Power to Attach Bank Accounts(23.01.2020)
Bombay High Court has quashed and set aside an order by the Directorate General of Goods and Services Tax Intelligence holding that the said order of .....
Tags : Bombay High Court, Power to Attach Bank Accounts
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SC Declines Petition Challenging Privacy Policy for Whatsapp Business Accounts(05.02.2021)
Supreme Court has declined to entertain a petition by Confederation of All India Traders against the new privacy policy for business accounts of socia.....
Tags : Supreme Court, Whatsapp Business Accounts Privacy Policy
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Delhi HC Directs RBI, SBI to Maintain Status Quo on Reliance Accounts(07.01.2021)
Delhi High Court has directed Reserve Bank of India and State Bank of India to maintain status quo on the classification of Anil Ambani's Reliance Com.....
Tags : Delhi High Court, Reliance Bank Accounts
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EPFO Decides to Give Interest on Inoperative Accounts from April 1(30.03.2016)
Employees' Provident Fund Organisation (EPFO) has decided to give benefit of accrual of interest on the inoperative accounts, reversing the decision t.....
Tags : Employees' Provident Fund Organisation , Inoperative Accounts
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Bombay High Court Quashes Govt Resolution to Shift Teachers’ Salary Accounts(22.02.2018)
Bombay High Court, while terming the decision to shift teachers’ salary accounts from Thane District Central Cooperative Bank to Thane Janata Sahakari.....
Tags : Bombay High Court, Salary Accounts
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Enhancement of withdrawal limits from ATMs and Current Accounts(16.01.2017)
Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142/10.27.00/2016-17 dated November 14, 21 and 28 and December 30, 2016, respectivel.....
Tags : Limits, Withdrawal, Accounts
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Maintenance of current accounts in multiple banks by Insurance Intermediaries(29.12.2021)
1. It has been observed that the insurance intermediaries maintain multiple current accounts with banks at different operational levels, i.e., Branch .....
Tags : Maintenance, Current accounts, Multiple banks
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Securities and Exchange Board of India Bars Transfer of Client Securities to Accounts of Brokers(26.02.2020)
Securities and Exchange Board of India has banned the transfer of client securities to Demat accounts of trading and clearing members. The Board furth.....
Tags : Securities and Exchange Board of India, Transfer of Client Securities to Accounts of Brokers
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Kerala High Court: Salary Accounts With Employer’s Official Bank Not Mandatory(19.05.2017)
Kerala High Court has held that all employees need not have salary accounts with official bank of employer and that official bank can transfer salarie.....
Tags : Kerala High Court, Salary Accounts
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Reserve Bank of India Eases Norms for No-Frills Accounts(11.06.2019)
Reserve Bank of India has eased the norms for the Basic Savings Bank Deposit (BSBD) accounts popularly known as no-frills accounts by allowing banks t.....
Tags : Reserve Bank of India, No-Frills Accounts
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Delhi HC Directs SBI to Open FCRA Accounts of NGOs Within 10 Days of Receiving Centre's Approval(24.05.2021)
Delhi High Court has directed the State Bank of India (SBI) to ensure that applications for opening the Foreign Contribution (Regulation) Act, 2010 (F.....
Tags : Delhi High Court, State Bank of India, FCRA Accounts
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RBI: 90-Day NPA Norm Shall Exclude Moratorium Period for Standard Accounts as on March 1(17.04.2020)
Reserve Bank of India has announced that the moratorium permitted by it on 27th March, 2020 due to COVID-19 situation can be excluded from the 90-day .....
Tags : Reserve Bank of India, Moratorium Period for Standard Accounts
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Maintenance of current accounts in multiple banks by Stock Brokers(28.10.2021)
1. SEBI vide circular no. SMD/SED/CIR/93/23321 dated November 18, 1993 on "Regulation of Transactions between Clients and Brokers" mandated that all t.....
Tags : Maintenance, Current accounts, Multiple banks
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Top Story
Reserve Bank of India issues Revised Master Directions on Fraud Risk Management in the Regulated Entities(15.07.2024)
The Reserve Bank of India (RBI) has issued three revised Master Directions on Fraud Risk Management applicable to various Regulated Entities (REs). Th.....
Tags : RBI, RE, Early Warning Signals, Red Flagging of Accounts
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International Financial Services Centres Authority (Form of Annual Statement of Accounts) Rules, 2022(28.02.2022)
In exercise of the powers conferred by clause (d) of sub-section (2) of section 27 read with sub-section(1) of section 16 of the International Financi.....
Tags : Financial Services, Annual Statement, Accounts, Rules
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Opportunity to decide NPA classification on account-basis slips by(11.04.2016)
A borrower having repaid all of the principal sum but with more than 20 per cent of interest remaining cannot escape the provisions of the SARFAESI Ac.....
Tags : non-performing asset, classification, multiple accounts, borrower
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Madras HC Directs I-T Dept to Attach Bank Accounts of Actor Tadimalla Gautami(24.03.2022)
Madras High Court has directed Income Tax (I-T) department to lift its order attaching six bank accounts of actor Tadimalla Gautami after she pays 25%.....
Tags : Madras High Court, Bank Accounts of Actor Tadimalla Gautami
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SEBI Issues Guidelines for Settlement of Running Accounts of Client Funds and Securities(17.06.2021)
Securities and Exchange Board of India has come out with new guidelines for settlement of running account of client's funds and securities that will b.....
Tags : Securities and Exchange Board of India, Settlement of Running Accounts
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SC Directs Banks Not to Impose Penalty on EMI Default by Amrapali Home Buyers(19.04.2022)
Supreme Court has directed the banks that their accounts shall not be treated as Non-Performing Assets Accounts and no penalties shall be charged fro.....
Tags : Supreme Court , Non-Performing Assets Accounts, EMI, Amrapali Group
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ITAT, Delhi Restricts Addition Only on Embedded Portion of Profit(19.04.2022)
Income Tax Appellate Tribunal, Delhi has observed that the addition due to mismatch amid the Books of Accounts and Form 26AS can be made only on the e.....
Tags : Income Tax Appellate Tribunal, Books of Accounts, Form 26AS, embedded profit portion
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Govt: Aadhaar Mandatory for Opening Bank Accounts, Transactions Over Rs. 50,000(19.06.2017)
Government, through a notification amending a prevention of money laundering law, has made it mandatory to provide Aadhaar to open a bank account and .....
Tags : Government, Bank Accounts
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Kerala HC Seeks Response from Govt on SARFAESI Proceedings on Loan Accounts(11.09.2020)
Kerala High Court has sought response from the Central Government about the banks' plea seeking permission to continue Securitisation and Reconstructi.....
Tags : Kerala High Court, Loan Accounts, SARFAESI Proceedings
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Facility to remedy erroneous transfers in Demat accounts(08.08.2023)
1. SEBI, vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/71 dated May 17, 2023, titled "Master Circular for Stock Brokers" has, inter alia, spe.....
Tags : Transfers, Demat accounts, Facility
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Extension of timelines for providing 'choice of nomination' in eligible demat accounts and mutual fund folios(27.12.2023)
1. SEBI, vide circular nos. SEBI/HO/MIRSD/POD-1/CIR/2023/158 dated September 26, 2023 and SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/160 dated September 27, 20.....
Tags : Extension, Timelines, Demat accounts
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Extension of timeline for finalization of audited accounts(06.07.2020)
1. Please refer to para 18(2) of the Master Direction on Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) D.....
Tags : Extension, Timeline, Audited accounts
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Provisioning pertaining to Fraud Accounts(18.04.2016)
Reserve Bank of India notified amendments to provisions in respect of Fraud Accounts. Banks making good amounts upon detection of fraud can adjust fin.....
Tags : fraud accounts, banks, adjustment, profit and loss
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Annual Report of Telecom Regulatory Authority of India for the year 2017-2018(21.02.2019)
The Annual Report of Telecom Regulatory Authority of India for the year 2017-18 detailing activities of the Authority, certified accounts and the audi.....
Tags : Annual Report, TRAI, Accounts, Audit report
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Amendment in Rule 114H of Income-tax Rules, 1962(22.06.2016)
Rule 114H of the Income Tax Rules 1962 has been amended to provide sufficient time to reporting financial institutions for completing due diligence in.....
Tags : Income tax rules, reportable accounts, deadline
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RBI releases Primary (Urban) Co-operative Banks' Outlook 2020-2021(20.01.2022)
The Reserve Bank of India releases the 8th volume of the annual publication titled 'Primary (Urban) Co-operative Banks' Outlook 2020-21'. The publicat.....
Tags : Annual publication, Release, Financial accounts
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Pradhan Mantri Fasal Bima Yojana(17.03.2016)
The Central government approved the Pradhan Mantri Fasal Bima Yojana, which will replace the existing National Agricultural Insurance Scheme and Modif.....
Tags : Agricultural insurance, pmfby, duplicate accounts
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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
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Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies(05.09.2017)
Government has stepped up decisive action against companies falling within the ambit of Section 248 of the Companies Act. The names of 2,09,032 compan.....
Tags : Bank accounts, Companies, 'Struck off'
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P&H HC Upholds Publishing of Accounts of Private Unaided Educational Institutions on Website(31.05.2021)
Punjab and Haryana High Court has upheld an April 2018 notification of the Ministry of Home Affairs, requiring private unaided educational institution.....
Tags : Punjab and Haryana High Court, Publishing of Accounts of Private Unaided Educational Institutions
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Finance Ministry Clarifies that Members of Queer Community Can Open Joint Bank Accounts(30.08.2024)
Ministry of Finance has issued a notification clarifying that members of the queer community can open a joint bank account and can also nominate their.....
Tags : Ministry of Finance, Queer Community, Joint Bank Accounts
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Circular regarding submission of 'choice of nomination' for demat accounts(10.06.2024)
1. SEBI, vide circular no. SEBI/HO/MIRSD/POD-1/CIR/2023/193 dated December 27, 2023 extended the last date for submission of 'choice of nomination' fo.....
Tags : Nomination, Choice, Demat accounts
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