Corporate Updates – 23-04-2015


SEBI has issued directions to the stock exchanges to address issues faced by companies exclusively listed in non-operational stock exchanges.The exclusively listed companies which fail to obtain listing in any other nationwide stock exchange will cease to be a listed company and will be moved to the dissemination board by the existing stock exchange. SEBI on the basis of representations received from exclusively listed companies and in the interest of investors of such companies, it has been decided to allow a time line of eighteen months, within which such companies shall obtain listing upon compliance with the listing requirements of the nation-wide stock exchanges. Listing is permitted only in respect of those class of securities that were already listed companies shall not undergo any material changes in their shareholding pattern.


CBDT has amended the Income Tax Rules, 1962, which may be called as Income Tax (7th Amendment) Rules, 2015 and shall come into force on the 1st day of April, 2015.CBDT mandates e-filing of Income tax Returns for individuals & HUFsclaiming tax refund and for ordinarily residents earning overseas income for the financial year 2014-15. The ITR is furnished in Form No. ITR-3 or Form No. ITR-4 and total assessable income exceeds five lakh rupees. Further Forms SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) and ITR-V for the financial year 2014-2015 are notified.

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