SEBI:
SEBI has issued caution notice to investors requesting not to invest in schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI. Certain Collective Investment Scheme(s) (CIS) have come to the notice of SEBI, which were offered by entities not registered with SEBI nor offer document of such schemes have been filed with SEBI. Appropriate actions have been taken against such entities and its Directors and since January 01, 2011, SEBI has passed orders against 91 entities and its Directors, carrying on unregistered CIS. As part of final directions, SEBI directs winding up of unregistered schemes of the entities, repayments to investors and inter-alia also debars the entity and its Directors from accessing the Capital markets. Investors and general public are hereby cautioned that other than "GIFT Collective Investment Management Company Limited" no other entity is registered with SEBI under the CIS Regulations.
CBDT
The Reserve Bank of India has recently permitted Indian corporates to issue rupee denominated bonds outside India. The matter of taxation of income from from off-shore Rupee Denominated Bonds under Income-tax Act, 1961 has been considered by the Government. In so far as taxation of interest income from these INR off-shore bonds in the case of non-resident investors is concerned, it is clarified that withholding tax at the rate of 5 percent, which is in the nature of final tax, would be applicable in the same way as it is applicable for off-shore dollar denominated bonds. Further, it has been decided that the Capital gains, arising in case of appreciation of rupee between the date of Issue and the date of redemption against the foreign currency in which the investment is made; would be exempted from capital gains tax. Legislative amendment in this regard will be proposed through the Finance Bill, 2016.
News from NIRC of ICSI
Today, 3rd November, 2015, NIRC is organising Learning at Door Step Session on “XBRL – Latest Developments” from 3.30 pm to 5.45 pm at Auditorium, Panacea Biotec Ltd., B-1 Extn/ G-3, Mohan Co-operative Industrial Estate, Mathura Road, Nr. NTPC & Behind Mercedes Showroom, New Delhi – 110044. No Participation Fee ; PCH – 2.
Speak Your Mind