Economic Survey 2015-16

Economic Survey 2015-16

February 26, 2016 The Economic Survey 2015-16, presented in the Parliament today by the Union Finance Minister Shri Arun Jaitley, states that the social infrastructure scenario in the country reflects gaps in access to education, health and housing amenities. Inclusive growth in India requires bridging … Continue Reading →
NBFC cannot undertake Point of Presence services for NPS

NBFC cannot undertake Point of Presence services for NPS

February 18, 2016 The Reserve Bank of India has clarified that the NBFC cannot undertake Point of Presence services for NPS (National Pension System). RBI/2015-16/324 DNBR (PD) CC.No. 073/03.10.001/2015-16 All Non-Banking Financial Companies Madam/ Sir, Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and … Continue Reading →
RBI has Revised the Threshold for Reporting of Frauds from Rs. 25 lakhs to Rs.1 Crore

RBI has Revised the Threshold for Reporting of Frauds from Rs. 25 lakhs to Rs.1 Crore

February 18, 2016 RBI/2015-16/327 DNBR (PD) CC.No.075/03.10.001/2015-16 All Deposit taking NBFCs (including RNBCs) and NBFCs- ND-SI Madam/ Sir, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to circulars DNBS.PD.CC.No.127 / 03.10.42 / 2008-09 dated August 14, 2008, DNBS. PD. CC. No. 256 … Continue Reading →
No Swachh Bharat Cess on Services which are exempted vide order u/s 93(2) of Finance Act 1994

No Swachh Bharat Cess on Services which are exempted vide order u/s 93(2) of Finance Act 1994

February 17, 2016 CBEC vide Notification No. 05/2016-Service Tax dated February 17, 2016 make amendment in notification No. 22/2015-Service Tax dated the 6th November, 2015 to grant exemption from Swachh Bharat Cess on services which are exemption through special order under section 93(2) of Finance Act 1994. GOVERNMENT … Continue Reading →