Saturday , February 14, 2026 |   15:04:47 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
OECD unemployment rate hangs at 5% in Dec month (See Brief) I-T - Receipts from provision of flight information/data cannot be characterised as royalty, merely because assessee has applied its accumulated experience in compiling the information: ITAT (See Breaking News) DTAA - As is trite law, Fees for Technical Services, not specifically addressed in a DTAA is to be treated as business income if it relates to the ordinary business activity of the foreign AE: ITAT (See Breaking News) DTAA - Payments made to Thai company for transponder services do not amount to royalty under Article 12 of the India–Thailand DTAA, as assessee neither had possession nor control over satellite or transponders: ITAT (See Breaking News) DTAA - CBDT Instruction No. 1/2018, orders passed in scrutiny cases through e-proceedings must be digitally signed by AO; manual signing of such order is fatal procedural defect - order quashed: ITAT (See Breaking News) DTAA - Sale of software not taxable as royalty, where once core software transaction is not taxable, then related & inseparable services cannot independently be treated as Fees for Technical Services: ITAT (See Breaking News) TP - After omission of clause (i) of section 92BA vide Finance Act, 2017, expenditure transactions covered u/s 40A(2), including interest payments to related parties, ceased to be specified domestic transactions: ITAT (See Breaking News) Real Household income stagnates in G7 area in Q3 (See Brief) OECD inflation stable at 3.7% in Dec month in 2025 (See Brief) TP - Mechanical exclusion of comparables by merely relying on coordinate bench decisions, without undertaking a proper FAR analysis or recording reasons on functional dissimilarity, is unsustainable: ITAT (See Breaking News) I-T - Notice for re-assessment u/s 148 for Assessment Year 2015-16, is invalid and barred by limitation if it was issued on or after April 1, 2021: ITAT (See Breaking News) TP - As per Sec 153(4), where reference u/s 92CA was made to TPO, then time limit stands extended by another 12 months: ITAT (See Breaking News) DTAA - Receipts from bandwidth services cannot be taxed as royalty as per section 9(1)(vi) or Article 12(3) of the India-Singapore DTAA: ITAT (See Breaking News) TP - If company's financials show predominantly software development service income and it satisfies all quantitative filters, denial of inclusion merely because it provides ancillary support services is not justified: ITAT (See Breaking News) TP - ALP for benchmarking electricity transactions should include gross rate charged by State Electricity Authority, which includes mandatory charges such as demand and penal charges: ITAT (See Breaking News) DTAA - Provisions of the DTAA are not triggered by DDT paid by a domestic company u/s 115-O: ITAT (See Breaking News) I-T - Proviso to Sec 149 provides that up to A.Y 2021-22 (period before amendment), period of limitation as prescribed in erstwhile provisions of Section 149(1)(b) would be applicable: ITAT (See Breaking News) I-T - Income from distribution of standardized software products by distributor, who does not own intellectual property, cannot be characterized as FTS: ITAT (See Breaking News) I-T - If international transactions between parties relating to non-exclusive distributorship and sale of software, were found to be at arm's length, no further attribution of profit can be made to PE: ITAT (See Breaking News) INTL - Interest paid u/s 201(1A) for delayed deposit of TDS is not compensatory in nature & does not qualify as allowable business expenditure u/s 37(1): ITAT (See Breaking News) INTL - Disallowance u/s 40(a)(i) sustainable where assessee paid a substantial sum to an international consultant, thereby creating an employer-employee relationship attracting TDS u/s 192: ITAT (See Breaking News) I-T - Procedure u/s 144C(1) has to be followed by Assessing Officer only if he proposes to make any variation which is prejudicial to interest of eligible assessee: ITAT (See Breaking News)
 
TII SEARCH
 
 
   
Home >>
 

APConnect - Online application for Full Fledged Money Changers and non-bank Authorised Dealers Category-II
By TII News Service
Apr 06, 2023 , New Delhi

    

A.P. (DIR Series)

CIRCULAR NO

01/RBI, Dated: April 06, 2023

To

Full Fledged Money Changers, non-bank Authorised Dealers Category II

APConnect - Online application for Full Fledged Money Changers and non-bank Authorised Dealers Category-II

Attention of Full Fledged Money Changers (FFMCs) and non-bank Authorised Dealers (AD) Category-II is invited to A.P. (DIR Series) Circular No. 25 dated March 6, 2006, containing instructions for AD - Category II licence/reporting, the Master Direction on Money Changing Activities dated January 01, 2016 (updated from time to time) containing guidelines on issuance and renewal of FFMC licence and on money changing activities as well as the Master Direction on Money Transfer Service Scheme (MTSS) dated February 22, 2017 (updated from time to time) containing guidelines for Indian Agents under MTSS.

2. A software application called 'APConnect' has been developed for processing of application for licencing of FFMC, non-bank AD Cat-II, authorisation as MTSS Agent, renewal of existing licence / authorisation, for seeking approval as per the extant instructions and for submission of various statements/returns by FFMCs and non-bank AD Cat II. The application can be accessed at 'https://apconnect.rbi.org.in/entity'.

3. The APConnect application broadly consists of the following facilities/functionalities:

i. Registration and licensing of new companies as well as existing Authorised Persons (FFMC / non-bank AD Cat-II / NBFC eligible for AD Cat-II)

ii. Registration of new Branches

iii. Registration of Temporary Money Changing Facilities

iv. Registration of franchisees

v. Authorisation as Indian Agents under MTSS

vi. Upgradation of FFMC to non-bank AD Cat-II

vii. Renewal of Licences

viii. Opening of Foreign Currency Accounts

ix. Opening of Nostro Accounts for eligible entities

x. Voluntary Surrender of Licence

xi. Write-off of foreign currency notes

xii. Submission of Returns/Statements

4. Existing FFMCs / non-bank AD Category-II shall register themselves on the APConnect application within three months from the date of issue of this circular, through the weblink indicated in para 2. Subsequent to registration on APConnect, requests for various other facilities / approvals listed in Para 3 above and submission of returns by the entities shall be done through the APConnect application. The FFMCs and non-bank AD Cat-II shall adhere to the instructions issued by the Reserve Bank, in this regard, from time to time.

5. On receipt of confirmation from the Regional Office of the Reserve Bank regarding generation of licence through APConnect, the existing FFMCs/non-bank AD Cat-II shall surrender their existing licence to the respective Regional Office of the Reserve Bank.

6. Eligible entities, desirous of applying for fresh FFMC/ non-bank AD Category II / MTSS Agent licence / authorisation shall submit their application only through APConnect.

7. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law.

[RBI/2023-24/13]

(Vivek Srivastava)
Chief General Manager

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.