Corporate Updates – 17-10-2016


SEBI through its issued has allowed Clearing members of commodity derivatives exchanges to keep a higher quantum of bullion as collateral and to have up to 30 per cent of their total liquid assets as commodities collateral, out of which non-bullion collateral shall not exceed 15 per cent of the total liquid assets of the clearing member. Prior to the revision, clearing members were permitted to have only up to 15 per cent of their total liquid assets as commodities collateral. The commodity exchanges will have to make necessary arrangements to enable timely liquidation of collaterals accepted by them and may stipulate concentration limits for collateral at member level as may be necessary based on their risk perception, capability to hold and arrangements for timely liquidation.


CBDT has clarified the applicability of TDS under the provisions of Section 194-I of the Income Tax Act, 1961 on lump sum lease premium paid on acquisition of long term lease. The Board in light of the previous decisions of the High Courts, stated that lump sum lease premium or one-time upfront lease charges, which are not adjustable against periodic rent, paid or payable for acquisition of long-term leasehold rights over land or any other property are not payments in the nature of rent within the meaning of Section 194-I of the Act. Therefore, such payments are not liable for TDS under Section 194-I of the Act.

News from NIRC of ICSI

Registration open for Regional PCS Conference of NIRC of ICSI on the theme "PCS- EMPOWER, EMERGE & EXCEL” to be held on November 05-06, 2016 from 10.00 AM Onwards (Saturday& Sunday) at Hotel Amar, Taj Ganj, Agra (UP). Fees : Rs. 2,250/- per delegate; Rs. 1,500/- for Corporate Members of NIRC and Free for Corporate Members of NIRC (Delhi & Chapters); Program Credit Hour: 8. Limited accommodation available; For Online Registration, Click here.

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