Corporate Updates – 30-07-2015


SEBI cautions investors not to invest in Schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI. Certain Collective Investment Scheme(s) (CIS) have come to the notice of SEBI, which are offered by entities which are neither registered with SEBI nor offer document of such schemes have been filed with SEBI. Appropriate actions have been taken against such entities and its Directors and since January 01, 2011, SEBI has passed orders against 91 entities and its Directors, carrying on unregistered CIS. Investors and general public are hereby cautioned that other than "GIFT Collective Investment Management Company Limited" no other entity is registered with SEBI under the CIS Regulations.


CBDT has issued clarification w.r.t the Extension of due date of filing Return of wealth under the provisions of the Wealth Tax Act, 1957 for A.Y, 2015-16. It has been clarified that, ‘due date’ of filing Return of wealth in relation to an assessee under the Wealth-tax Act shall be the same date as that applicable to an assessee under the Income-tax Act under the explanation to sub-section(1) of Section 139 unite Income-tax Act. As the CBDT has already extended the ‘due date’ for filing Return of Income for assessment year 2015-16 in respect of assessees from 31.7.2015 to 31.8.2015, In view of the same, the ‘due date’ for filing Retain of wealth by such assessees for assessment year 2015-16 also stands extended from 31st July 2015 to 31st August 2015.

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