CBDT:
CBDT through Press Release has clarified the issues relating to apprehension and fears of harassment of the declarants as expressed in certain public forums with respect to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 which has been enacted to deal with the menace of black money stashed abroad. The Act provides for a one-time compliance opportunity which will end on 30th September, 2015. Failure to declare an undisclosed foreign asset will entail severe consequences under the Act, including higher penalty, prosecution, and may also result in forfeiture of assets under the Prevention of Money Laundering Act. Persons holding undisclosed foreign assets are advised to file their declarations well in time. The information contain in the declaration will be kept confidential as section 138 of the Income-tax Act is applicable to the declarations. The process of filing declaration is simple and the declaration can be filed online also.
SEBI
SEBI has issued Caution Notice to General Public to deal with only SEBI registered investment advisers and research analysts for availing investment advisory services/ research services. The details of SEBI registered investment advisers and research analysts are available on the SEBI website. The public in general are advised to check the registration status of the entity/person on the SEBI website before availing the investment advisory services. Further, under the SEBI Act, 1992, read with SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014, no person shall act as an investment adviser or a research analyst unless he has obtained a certificate of registration from the Board under these regulations. Acting as such without registration with SEBI may entail initiation of action as deemed appropriate under the SEBI Act, 1992. SEBI has taken action against 7 entities for providing investment advice to public without obtaining registration with SEBI.
Speak Your Mind