Corporate Updates – 02-12-2014


CBDT after extending the due date of furnishing of Income Tax Returns has now extended the due date for assessees residing in the State of Jammu and Kashmir from 30th November, 2014 to 31st March, 2015. Further the due date for obtaining & furnishing reports of audit for the assessees residing in the State of Jammu & Kashmir under various provisions of the Act is also extended upto 31st March, 2015.


SEBI with an intention to make it easier for retail investors to participate in OFS, has revised the guidelines on sale of sharesthrough Offer for Sale mechanism. Accordingly, modification to Offer for Sale (OFS) of Shares through stock exchange, seller may give an option to retail investors to place their bid at cut-off price in addition to placing price bids subject to certain conditions. In partial modification to earlier circular, in respect of bids in the retail category, clearing corporation shall collect margin to the extent of 100% of order value in cash or cash equivalents.


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