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: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: cpt :: list of goods taxed at 4% :: form 3cd :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Latest Circulars »
 RBI-Information from Unauthenticated Sources – Advisory to banks
 RBI-Aadhaar-based Authentication for Card Present Transactions
 RBI-External Commercial Borrowings (ECB)
 Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 All You wanted to know from RBI about: Withdrawal of Legal Tender Status of ₹ 500 and ₹ 1000 Notes
 Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit
 Withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000: Activity at Banks during November 10-27, 2016
 Reserve Bank of India Act, 1934 – Section 42(1A) Requirement for maintaining additional CRR
 Chest Guarantee Scheme for Specified Bank Notes (SBNs) - CGSS
 Quarterly Projection Model for India: Key Elements and Properties

Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds, 2003
June, 25th 2014

RBI/2013-14/654
DGBA.CDD. No. 6919/13.01.299/2013-14

June 12, 2014

The Chairman/Managing Director
Head Office (Government Accounts Department)
State Bank of India and Associates
All Nationalised Banks
(Excluding Punjab and Sind Bank and Andhra Bank)
Axis Bank Ltd./ HDFC Bank Ltd./ICICI Bank Ltd.
Stock Holding Corporation of India Ltd.(SHCIL)

Dear Sir/Madam

Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds, 2003

You may recall the discussions we had in the meetings held on August 31, 2012 and February 06, 2013 regarding migration of Relief/Savings Bonds operations to the Core Banking Solution (CBS) Platforms of the banks. In order to migrate the Relief/Savings Bond operations to CBS Platforms, it was felt necessary to use a revised application format to fit into the new system after notifying the same by the Government of India (GOI). After due consideration of the comments/suggestions made by the banks, the revised application formats (bilingual - Hindi and English) for 8% Savings (Taxable) Bonds, 2003 have been approved by the Government of India and notified in the Gazette of India - Extraordinary - Part I - Section -1, No. 104 on April 21, 2014, copy of which is enclosed for our ready reference.

2. The application formats for Cumulative and Non-Cumulative Bonds may be printed in different colours for easy identification. While printing the forms following instructions may please be kept in mind.

  1. The application forms should be bilingual, i.e. in Hindi and English

  2. You may use logo of your bank at the place provided in the application format

  3. The application forms should be printed on A-4 size paper only.

  4. The application forms must be printed on good quality paper.

  5. The information regarding savings bonds and duties and rights of the customers must be printed and perforated in such a manner that they can be easily detached and taken away by the customer while leaving behind the application portion with the bank/branch.

3. It need not be emphasized that the time schedule for deliverables should be strictly adhered to. Deviation, if any, will be viewed seriously by the Reserve Bank of India.

4. Please acknowledge the receipt and also confirm that the above instructions have been implemented by you.

Yours faithfully,

(R. K. Singh)
Deputy General Manager
Encl.: As above

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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