Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Vostro account rules: extended float period and reduced collateral requirement ease operational obligations for non resident exchange houses. Amendments change operational rules for Vostro accounts of non resident exchange houses by extending the permissible float period for transfers into the designated drawee account and by reducing the collateral coverage requirement under the Non DDA procedure; collateral may be maintained as a cash deposit or as a bank guarantee from an international bank of repute.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Vostro account rules: extended float period and reduced collateral requirement ease operational obligations for non resident exchange houses.
Amendments change operational rules for Vostro accounts of non resident exchange houses by extending the permissible float period for transfers into the designated drawee account and by reducing the collateral coverage requirement under the Non DDA procedure; collateral may be maintained as a cash deposit or as a bank guarantee from an international bank of repute.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.