CS UPDATE FEBRUARY 11, 2014

“ANYONE WHO HAS NEVER MADE A MISTAKE HAS NEVER TRIED ANYTHING NEW.”

-ALBERT EINSTEIN

RBI UPDATE

SECTION 42(1) OF THE RESERVE BANK OF INDIA ACT, 1934, SECTION 24 OF BANKING REGULATION ACT 1949 AND SECTION 18 AND 24 OF THE BANKING REGULATION ACT, 1949 (AACS) – FCNR(B)/NRE DEPOSITS – EXEMPTION FROM MAINTENANCE OF CRR/SLR AND EXCLUSION FROM OUTSTANDING ADVANCES FOR PRIORITY SECTOR LENDING FOR RRBS (NOTIFICATION NO. RBI/2013-14/486 CD.CO.RRB/RCB.BC.NO.83/03.05.33/2013-14 DATED FEBRUARY 11, 2014)

TAX UPDATE

CUSTOMS BAGGAGE DECLARATION (AMENDMENT) REGULATIONS, 2014 (NOTIFICATION NO. 10/2014-CUSTOMS (N.T.) DATED 10^TH FEBRUARY, 2014)

EXPORT OF A PROHIBITED ITEM UNDER ADVANCE AUTHORIZATION – REG (CIRCULAR NO.   04 /2014-CUSTOMS DATED 10^TH FEBRUARY, 2014)

NON-FILING OF ITR-V IN RETURNS WITH REFUND CLAIMS-RELAXATION OF TIME- ITR-V AND PROCESSING OF SUCH RETURNS –REGARDING (CIRCULAR NO. 04/2014 DATED FEBRUARY 10, 2014)

LEGAL TERM OF THE DAY

“Testis Corruptus”

A bribed or corrupt witness.

SPECIFIC UPDATE

ARTICLES INVITED FOR CHARTERED SECRETARY – GUIDELINES FOR AUTHORS

ARTICLES INVITED FOR SPECIAL ISSUES OF CHARTERED SECRETARY

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