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: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: VAT Audit :: due date for vat payment
 
 
« News Headlines »
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you
 Self e-filing of income tax returns
 Why do we get 3 extra days to file income tax returns in 2017?
 Income Tax department launches 'Operation Clean Money'-II
 Here’s how to e-file your income tax return
  Why SMEs should comply with income tax provisions

Guidelines on e-payments likely in two months: RBI
May, 17th 2008

The Payment & Settlement Act, which will define the legal framework for electronic payments, is likely to come into effect in the next two months, a top Reserve Bank official said here on Friday.

The Act has received Presidential assent and the government notification is awaited, RBI Chief General Manager A P Hota told reporters on the sidelines of a Payment Summit.

"We had sought public comments on the draft guidelines of the Act and yesterday was the last day to submit suggestions. We expect to analyse all comments and finalise guidelines in the next two months," Hota said.

The final guidelines, apart from defining regulations for various electronic payment systems, would enable RBI to monitor global payment gateways Visa and MasterCard.

"They (Visa & MasterCard) will have to apply for registration within six months of the final guidelines being released," Hota said adding the gateways would also have to make periodical submissions under these regulations.
The Act would also enable payment service providers to offer innovative payment solutions.

Clearing Corporation of India Ltd Chairman R H Patil said that the company was looking at launching two new products one each for the currency futures market and over-the-counter interest rates futures.

"Presently, we guarantee settlement in the spot market but there is no guarantee for forward contracts in forex market and OTC contract for interest rate futures," Patil said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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