Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: due date for vat payment
 
 
Latest Circulars »
  RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
 Auction of Government of India Dated Securities January 16, 2017
  Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of ₹ 500 and ₹ 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016
 RBI-Career Opportunities at Reserve Bank Information Technology Pvt Ltd
 RBI-Appointment of Director, National Institute of Bank Management (NIBM), Pune (Revised)
 RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
  Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
 Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
 Issuance of 35 days and 49 days Cash Management Bills under Market Stabilisation Scheme (MSS) on January 13, 2017
 RBI to conduct Overnight Variable Rate Reverse Repo Auction under LAF on January 12, 2017 between 4.00 pm and 4.30 pm
  Macro and Micro Drivers of Business Potential of IFSCs in India (Dr. Urjit R. Patel, Governor – January 11, 2017 – at Gandhinagar, Gujarat)

RBI-Diamond Dollar Account (DDA) Reporting Mechanism
March, 28th 2016

RBI/2015-16/346
A.P. (DIR Series) Circular No.54

March 23, 2016

To

All Category-I Authorised Dealer Banks

Madam / Sir,

Diamond Dollar Account (DDA) – Reporting Mechanism

Attention of Authorized Dealer Category – I (AD Category –I) banks is invited to Part IX, Para 1(e) of the Master Direction on Reporting under Foreign Exchange Management Act, 1999, as updated from time to time, in terms of which AD Category-I banks have been advised to submit quarterly reports giving details of the name and address of the firm/company in whose name the Diamond Dollar Account is opened, along with the date of opening / closing the Diamond Dollar Account to Chief General Manger-in- Charge, Foreign Exchange Department, Reserve Bank of India, Trade Division, Amar Building, Mumbai – 400 001. Further, in terms of Part IX, Para 1(f) of the Master Direction ibid, AD Banks are also required to submit fortnightly statements giving data on DDA balances maintained by them to the Reserve Bank at the abovementioned address.

2. With a view to liberalizing the procedure, it has now been decided to dispense with the abovementioned statements with immediate effect. AD banks may however, maintain the above database at their own end and make available the same as and when called upon by the Reserve Bank of India.

3. Necessary amendments have been incorporated in the Foreign Exchange Management (Foreign currency Accounts by a Person Resident in India), Regulations 2015, which have been notified vide Notification No. FEMA 10 (R) /2015-RB dated January 21, 2016. The Master Direction No 16 on Export of Goods and Services and Master Direction No 18 on Reporting under Foreign Exchange Management Act, 1999 are being updated to reflect the changes.

4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.

Yours faithfully,

(A. K. Pandey)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions