Corporate Updates – 17-06-2016


Department of Trade and Taxes has introduced new reward scheme for highest tax paying dealers. The department has also provided a list of dealers who shall be eligible for the rewards under the said scheme which includes dealers having the specified turnover and who have paid the highest tax during the said period. The order also provides for the eligibility criteria for the scheme. The scheme shall be implemented on the basis of recommendations received from zonal joint/additional commissioners and tax figures compiled by system branch. A reward evaluation committee shall be constituted for the purpose which shall work out the claims of the winners for reward/appreciation under the scheme. The objective of the scheme is to acknowledge the efforts of better performing dealers so as to further encourage them to continue their efforts for better tax compliance and also to set examples for other dealers.


Central Depository Services (India) Limited [CDSL] has launched a new mobile application for e-voting that would enable Android based smart phone users to cast their vote on company resolutions even while they are on the move and can also be used for voting at the AGM/EGM venue, which can be downloaded from Google Play Store for Android based phones. The app for iPhone and Windows Phone would be released shortly and can be downloaded from the App Store and Windows Phone Store, respectively. CDSL has also introduced a Single Sign On facility which enables clients of registered Proxy Advisory Firms, Depository Participants and stock brokers to vote directly from their registered login and both these facilities, that is, m-Voting and Single Sign On, are currently being offered free of cost to investors. This would provide greater flexibility to the investors and they can vote from a place and time of their convenience.

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