Corporate Updates 09 April 2014


In exercise of the powers conferred by Section 295 of the Income-Tax Act, 1961, the CBDT amended the Income-tax Rules, 1962, to notify the Forms SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) and ITR-V for filing of Income Tax Returns (ITR) for the Assessment Year 2014-15. To view & download all such forms, please Click Here.


RBI has issued directions under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 to encourage longer term flows, foreign investment by all eligible investors including RFPIs shall henceforth be permitted only in Government dated securities having residual maturity of one year and above and existing investments in T-bills and Government dated securities of less than one year residual maturity shall be allowed to taper off on maturity/ sale. The present limit for investment in Government Securities by SEBI registered FIIs, QFIs, long term investors and FPIs registered in accordance with SEBI guidelines stands at USD 30 billion. Necessary operational guidelines in this regard will be issued by SEBI.

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