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  • Latest Update of NICAI :

    Where role of assessee in facilitating foreign currency loan to its client is providing financial analysis of borrowers, general market conditions and regulatory environment, such nature of services will not fall under para 4 of protocol between India and France [Credit Lyonnais Vs Adit (International Taxation) (2013) 40 taxmann.com 87 (Mumbai Tribunal)].

    Disallowance u/s 40(a)(ia) is for amounts payable at any time during the year and not just end of year [CBDT circular 10/DV/2013 of 16-12-2013].

    No change in key rates. Repo rate at 7.75%, Reverse repo at 6.75%, Cash Reserve Ratio at 4% and Marginal Standing Facility and Bank Rate at 8.75%.
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