CBDT
CBDT has extended the due-date for filing Income tax returns and reports of audit for the Assessment Year 2016-17 for all categories of taxpayers in the State of Jammu & Kashmir to 31st December, 2016. The Board took the decision to extend the due- date owing to the difficulties faced by taxpayers in the State of Jammu & Kashmir in filing of the same.
SEBI
SEBI, in order to broad base has decided to allow SEBI Registered Investment Advisors (RIAs) to use infrastructure of the recognised stock exchanges to purchase and redeem mutual fund units directly from Mutual Fund/Assets Management Companies on behalf of their clients, including direct plans. Earlier, mutual fund distributors can only use recognised stock exchanges’ infrastructure to purchase and redeem mutual fund units directly from Mutual Fund/Asset Management Companies. The other provisions of original circular issued in this regard will remain unchanged.
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