Corporate Updates 15 March 2014

Reserve Bank of India: 

RBI has decided that the letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number may be accepted as an ‘Officially Valid Document’. Further, RBI has also advised Banks to accept Aadhaar letter as a proof of both identity and address while opening accounts if the address provided by the account holder is the same as that on Aadhaar letter. For detailed notification, Please click here

Income Tax:

The Income Tax Authority has clarified that for the purpose of determining residential status of a citizen in India as per Income Tax Act, 1961, the term ‘going abroad for purpose of employment’ means travelling abroad on business visa to take up any employment or for any business carried outside India.

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