Saturday , October 3, 2026 |   05:38:08 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
I-T - Allocation of IT costs & management expenses by Indian branch to its foreign head office is not taxable as FTS in India: ITAT (See Breaking News) I-T-Payment cannot be deemed to be royalty where it is consideration for services involving managerial & technical inputs, not involving any transfer of technical knowledge & not satisfying Make Available test: ITAT (See Breaking News) I-T - Final assessment order passed u/s 143(3) and 144C(13) after expiry of outer time limit u/s 153 is barred by limitation: ITAT (See Breaking News) TOLA 2026 - (Part-2): A dazzling future for the diamond sector in India? (See TII EDIT) TP - Resale Price Method is ordinarily most appropriate method where goods are purchased from an AE and resold to unrelated parties without value addition: ITAT (See Breaking News) I-T - Special circumstances u/s 119(2) for condonation of delay cannot be confined in predefined formula or limited expression: HC (See Breaking News) TP - Segmental profitability cannot be summarily discarded solely due to profit variances between AE & non-AE segments: ITAT (See Breaking News) TP - No separate ALP adjustment for delayed receivables is warranted if TNMM with working capital adjustment already covers impact: ITAT (See Breaking News) TP - Per Section 144C, AO is statutorily bound to follow directions of DRP & omission to pass final order in conformity with DRP's directions invalidates such order: ITAT (See Breaking News) INTL - Per settled legal position, date on which document or order is electronically uploaded on ITBA portal with generated DIN must be legally recognized as date of receipt by tax authority: ITAT (See Breaking News) I-T - Section 149(1)(c) applies equally to non-residents and absence of foreign asset disclosure obligation does not bar reopening: ITAT SB (See Breaking News) TP - As per settled precedent, Bright Line Test method is rejected for determining adjustments on Advertising Marketing and Promotion expenses: ITAT (See Breaking News) I-T - Revenue cannot treat Sec 144C as standalone code to bypass limitation period u/s 153: ITAT (See Breaking News) TP - Per Section 144C, AO is required to first pass draft assessment order, if adjustment prejudicial to assessee is proposed, before passing the final order: ITAT (See Breaking News) TP - Rejection of TNMM method adopted by assessee without bringing any comparable uncontrolled transaction on record & determination of ALP on ad hoc basis is sustainable: ITAT (See Breaking News) INTL - PCIT, being an authority of coordinate rank, is not empowered to invoke revisional jurisdiction u/s 263 over assessment framed in compliance with DRP's directions: ITAT (See Breaking News) INTL - DRP is collegiate body & holds coordinate rank with PCIT; ergo, order passed per directions of DRP cannot be subject to revision u/s 263: ITAT (See Breaking News) TP - TPO ought to apply 10-times turnover filter on either side of assessee's turnover, considering that size of operations in software sector has bearing on operating margins & that large companies enjoy advantages arising from operational efficiencies & intangibles: 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.