Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
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AD Category-I banks may open Special Rupee Vostro Accounts for their overseas branches or banks resident outside India. SRVAs provide an additional INR-based arrangement for invoicing, payment and settlement of cross-border exports and imports, and may also settle permissible FEMA current and capital account transactions. Banks maintaining SRVAs may open dedicated additional current accounts for exporters or importers for trade settlement. SRVAs may receive inward remittances, transfers from repatriable INR accounts and proceeds of permissible transactions; investments of balances in debt instruments remain subject to the applicable RBI directions. FEMA documentation and reporting requirements continue, and SRVA details may be updated in the FEDAI directory. The consolidated instructions take immediate effect and supersede specified prior circulars.
AD Category-I banks may open Special Rupee Vostro Accounts for their overseas branches or banks resident outside India. SRVAs provide an additional INR-based arrangement for invoicing, payment and settlement of cross-border exports and imports, and may also settle permissible FEMA current and capital account transactions. Banks maintaining SRVAs may open dedicated additional current accounts for exporters or importers for trade settlement. SRVAs may receive inward remittances, transfers from repatriable INR accounts and proceeds of permissible transactions; investments of balances in debt instruments remain subject to the applicable RBI directions. FEMA documentation and reporting requirements continue, and SRVA details may be updated in the FEDAI directory. The consolidated instructions take immediate effect and supersede specified prior circulars.
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