TDS certificate issuance must be generated through the TIN system and authenticated, enforcing electronic compliance.
All deductors must issue TDS certificates in Form No. 16A generated through the TIN Central System and downloaded from the TIN website for deductions made on or after 1 April 2012, verifying and authenticating the contents before issue; authentication may be by digital or manual signature as prescribed, and the Director General (Systems) will specify procedures, formats and standards for electronic issuance, which alone will be treated as valid for statutory purposes.

Harmonisation of registration: common application, ACES automation, and regulated surrender or cancellation procedures.
Harmonisation prescribes a common application and documentary requirements for Central Excise and Service Tax registration, automates issuance via ACES, requires separate applications per premise with an option for centralized registration for service taxpayers, mandates notification of changes on ACES within thirty days, and makes registration permanent until surrendered or cancelled; cancellation follows natural justice, may be initiated for prolonged non-filing, requires verification of dues, is non punitive, and cancelled registrations will be published.

Transit customs procedure requiring a prescribed Letter of Guarantee, sealing, verification, and recovery mechanism for diverted consignments.
Clearance for Bhutan transit consignments requires a prescribed five copy Letter of Guarantee signed by an authorised Bhutanese representative; the LoG is correlated with the Import General Manifest, serial numbered, assessed for classification and duty by Tax Assistant and Appraiser/Superintendent, and endorsed in stages with the original retained by the Bhutan Unit. Sealed or inspected consignments proceed to the Indo Bhutan border where customs verify copies and seals; diversion into India permits invocation of the LoG and recovery of duties through Bhutanese liaison channels. The same procedure applies to Bhutan exports transiting India.

Authorised Dealer Category II permission expands forex services: issue prepaid cards and open nostro accounts under strict compliance.
Authorised Dealer Category II may issue forex pre-paid cards to residents travelling abroad subject to KYC/AML/CFT compliance, with settlement of such cards effected through Authorised Dealer Category I. They may also open one Nostro account per currency solely for settlement of permissible remittances, not for prepaid card settlement; no idle balances shall be maintained, and the accounts will be subject to reporting requirements.

Revision of interest rates: PPF and Senior Citizens Savings Scheme rates updated for the financial year, effective at year start.
The Government issued an Office Memorandum advising revised interest rates on the Public Provident Fund and the five-year Senior Citizens Savings Scheme for the financial year, effective from the start of the year; banks operating these schemes are instructed to apply the notified rates in accordance with the schemes' compounding or payment provisions and to inform branch staff and subscribers and display the revisions on branch notice boards.

Reporting obligations for gold imports: banks must file prescribed half yearly and monthly returns on quantities and values.
Authorised Dealer Category I banks must submit two prescribed returns on gold imports in the Gems & Jewellery sector: a half yearly statement of quantity and value by mode of payment distinguishing nominated banks/agencies and EOUs/SEZs (Annex A), and a monthly statement of monthly and cumulative year to date quantity and value for non bank nominated agencies, EOUs and SEZs (Annex B). Both returns are required even if nil and may be emailed; other terms of the earlier circular remain unchanged.

Classification of boiler structural components as parts of boiler secures CENVAT credit under Rule 2(k)(iii).
Structural components that are essential to a Boiler System are classifiable as parts of Boiler and thus qualify as inputs for CENVAT credit; the exclusion for goods used to lay foundations or make structures for support of capital goods does not apply where the components form an integral part of the Boiler rather than mere external supports.

Redemption of prepaid travel card balances required; issuers must refund unutilised amounts promptly subject to unsettled transactions and fees.
Issuers of international prepaid/travel cards must redeem unutilised balances immediately on request, while retaining only amounts authorised but unclaimed/not settled by acquirers until settlement, a small retained balance for pipeline transactions pending settlement, and transaction fees/service tax payable in rupees; authorised persons may hold authorised but unsettled amounts only until processing within the prescribed settlement timeframe.

Overseas direct investment accounts now allowed abroad subject to host country routing, use for JV/WOS investments and prompt repatriation.
Indian parties may open, hold and maintain a Foreign Currency Account abroad for overseas direct investment where the host country mandates routing through a designated account. Eligibility requires compliance with FEMA overseas direct investment provisions and host-country rules. Remittances to the account must be used only for equity investment in JV/WOS; dividends and other entitlements must be repatriated to India within thirty days of credit. Annual debits/credits must be reported to the designated AD bank with a statutory auditor's certificate of compliance. The account must be closed immediately or within thirty days of disinvestment or cessation.

Promoter dematerialisation requirement exemptions permit specific cases and require stock exchange approval upon documentary evidence and implementation.
Specified narrow exemptions to the promoter dematerialisation obligation include: physical-mode sales not lodged for transfer; shareholdings that are sub judice; inability to convert due to a promoter's death; and short pendency in listing approval or conversion for newly allotted shares. Companies must apply to stock exchanges with documentary evidence; exchanges must implement systems, publish guidance, amend bye laws, disseminate the circular and report implementation.

SEZ approvals and extensions secured with conditions; co-developer terms, deferrals, and compliance requirements govern developer and unit actions.
The Board granted formal approvals for several IT/ITES SEZ proposals where developers had land and state recommendations, deferred proposals lacking possession or conflicting with land-area policy, and imposed documentary preconditions for co-developer recognition. Co-developer approvals are conditional: lease and financial arrangements must be submitted, and tax authorities retain the right to examine lease rentals, down payments, or premiums for taxability. Extensions of formal, in-principle approvals and LoPs were granted or deferred pending state reports. A draft plastics recycling policy was circulated and transitional validity for plastic reprocessing units was extended pending finalization.

Section 119 directions require income-tax offices to remain open and provide additional counters for taxpayer convenience.
Exercise of Section 119 powers directs income-tax offices to remain open on the fiscal year closing day and to operate receipt counters during normal hours, with provision for additional receipt counters where required to facilitate taxpayer filing and a mandate to give wide publicity to these arrangements.

Algorithmic trading risk controls required, with exchanges and brokers mandated to implement order-level checks and monitoring to ensure market integrity.
Regulatory guidelines require exchanges and brokers to implement comprehensive risk controls, monitoring and reporting for algorithmic trading: exchanges must ensure system capacity, surveillance upgrades, economic disincentives for high order-to-trade ratios, routing through Indian broker servers, clock synchronization, and the ability to identify and disable dysfunctional algos; brokers must obtain exchange permission, pass conformance tests, implement price, quantity, order-value and cumulative open order value checks, automated execution safeguards, unique order tagging, maintain logs, safeguard algos, and undergo certified system audits.

All-in-cost ceiling for External Commercial Borrowings extended, preserving enhanced cost limits by maturity for a further period.
The Reserve Bank directed continuation of enhanced all-in-cost ceilings for External Commercial Borrowings: 350 basis points over six-month LIBOR for average maturities of three years up to five years, and 500 basis points for maturities exceeding five years, applicable until September 30, 2012 and subject to review. Authorised Dealer Category-I banks must notify customers. The measures are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. A related press release applies an all-in-cost of 350 basis points over six-month LIBOR to trade credit up to one year.

Discontinuation of printed GR forms: GR forms now available only online, with automatic GR numbering and bank notification required.
Printed GR forms will no longer be supplied by Reserve Bank Regional Offices; GR forms are available only online and must be downloaded and printed on legal size paper with appropriate page-setup, with the GR number allotted automatically when the document is sent to the print queue; AD Category I banks must notify their constituents; directions issued under Foreign Exchange Management Act powers without prejudice to other required permissions.

All-in-cost ceiling continued for trade credit and ECB, maintaining maturity-based pricing and inclusive fee caps.
Continuation of the enhanced all-in-cost ceiling for trade credits for imports retains a reference to six month LIBOR plus an additional margin for maturities up to one year and specifies that the all in cost ceiling includes arranger, upfront and management fees, handling/processing charges, out of pocket and legal expenses. The related statement also continues maturity segmented all in cost ceilings for ECB, confirms applicability until the stated review date, and records that the directions are issued under the foreign exchange statute and are subject to other legal permissions.

Extension of filing deadlines: reconciliation returns and original declaration forms deadline extended to permit late quarterly filings.
The Commissioner extends the time limit for furnishing the reconciliation return in Form DVAT-51 and for submitting the 'original' portion of declaration forms C, E I, E II, F, I, J and H for the first three quarterly periods of the relevant year, invoking powers under the Delhi Value Added Tax Rules, the Central Sales Tax Act and the Central Sales Tax (Registration and Turnover) Rules, and directs departmental circulation for implementation.

Regulatory reporting obligations: Bankers to an Issue must submit revised half yearly compliance reports and Board reviewed corrective plans.
SEBI mandates half yearly electronic (excel) reports by Bankers to an Issue in a revised annexure covering regulatory compliance and investor grievance redressal, effective for the half year ending March 2012 and superseding prior circulars. The Board of directors must review and record deficiencies and corrective measures. The Compliance Officer must submit the excel report to SEBI at the designated email within three months of the half year's end; changes in BTI status or constitution are included in the format.

Mega Power Project exemption clarified: FDRs lodged with factory jurisdiction, may be submitted periodically; concessional removal rules excluded.
The Circular clarifies that when a project's Mega Power Project certificate is provisional, the required Fixed Deposit Receipt (FDR) equal to the excise duty must be furnished to the jurisdictional Deputy Commissioner or Assistant Commissioner of the factory from which goods are cleared. FDRs may be submitted periodically for successive clearances, but each must meet the prescribed term. The Central Excise concessional removal Rules, 2001 do not apply to removals for use in a project under this notification.

Online mandatory filing of SCOMET export licence applications requires specified documents and original end user certificates.
Mandatory online filing of ANF 2E SCOMET export licence applications is required from 1 July 2012, replacing paper submissions after a transitional period ending 30 June 2012. Applicants must use the DGFT portal, complete all required fields (including SCOMET category, item numbers, port of loading, and bank details), upload specified documents such as purchase orders, End User Certificates, technical specifications, prior export lists and Bills of Entry (first application in financial year), and forward original End User Certificates and other hard copies to DGFT(HQRS) with the online ECOM number.