Corporate Updates – 05-10-2016


CBDT has notified seven districts in Andhra Pradesh for availing tax incentives under Section 32(1)(ii) (a) and Section 32AD of the Income Tax Act, 1961 to boost the industrial activities. The incentives have been extended for four districts of Rayalseema and three districts of North coastal region of the state under the Andhra Pradesh Re-organisation Act, 2014. Consequently, any manufacturing undertaking set up during the period from April 1, 2015 to March 31, 2020 in these districts of Andhra Pradesh is eligible for 15% of higher additional depreciation and 15 per cent of investment allowance on the cost of plant and machinery acquired by it during the said period. The seven districts of Andhra Pradesh notified as backward areas are — Anantapur, Chittoor, Cuddapah, Kurnool, Srikakulam, Vishakhapatnam and Vizianagaram. Further, the notification clarified that incentives are in addition to other tax benefits available under the Income-tax Act.


In pursuance of a Medium Term Framework (MTF) announced by SEBI for FPI limits in Government securities, the Board has decided to revise the limit for investment by FPIs in Government Securities, for the next half year, to INR 148,000 Cr on October 03, 2016 and INR 152,000 Cr on January 02, 2017 respectively. Similarly, FPI Limits have been revised for various other Government securities. All other existing terms and conditions, including the security-wise limits, investment of coupons being permitted outside the limits and investments being restricted to securities with a minimum residual maturity of three years, shall continue to apply. This circular shall come into effect immediately.

News from NIRC of ICSI

1. NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC is organizing "PCS HELPLINE on SEBI (LODR) Regulations, 2015” on the 5th October, 2016, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic “SEBI (LODR) Regulations, 2015” by CS Arvind Kohli, will be available to answer the queries telephonically, on 5th October, 2016 from 4.00 PM to 5.30 PM at 011-4934 3001.

2. NIRC of ICSI is participating in the ensuing Airtel Delhi Half Marathon -2016 (6 km ‘Great Delhi Run’), which will be held on Sunday, the 20th November, 2016. NIRC would be participating in the group category with a group named as “ICSI Group”. Interested members may fill up the form for the ‘Great Delhi Run’ 6 km category and send the hard copy of the filled up form along with a copy of the photo id proof, passport size photograph and deposit the above along with a fee of Rs. 600/- on or before 5th October, 2016 by cash or by cheque/DD in favour of “NIRC of ICSI” with full details on the reverse side of the cheque/DD i.e. full name, contact number, Membership No. To make the payment online, please Click Here.

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