Corporate Updates 19 Feb 2014


RBI has amended External Commercial Borrowings (ECB)- Reporting Arrangements and issues new Form for ECBs to collect details of financial hedging and foreign earnings and expenditures. The format of ECB-2 Return has been modified (Part-E). The reporting in the modified ECB-2 Return (Copy Attached) will be applicable from the return of the month April 2014 onwards. There is no change in the reporting procedure and Corporate(s) raising ECB continue to submit ECB-2 Return on a monthly basis duly certified by the designated AD Category-I bank. To view & download the circular, CLICK HERE


The convention between the Government of the Republic of India and the Government of the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation (DTAA) and the prevention of fiscal evasion with respect to taxes on income and capital gains has been by the Government of respective countries and same has been notified on 10-02-2014.

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