Frequently Asked Questions (FAQs) on HDFC RGESS- Series 2

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Frequently Asked Questions (FAQs) on HDFC RGESS- Series 2"

Transcription

1 Frequently Asked Questions (FAQs) on HDFC RGESS- Series 2 1. What is Rajiv Gandhi Equity Savings Scheme (RGESS)? With an objective to encourage flow of savings and to improve the depth of the domestic capital market, the Government of India announced a tax saving scheme in the Union Budget named Rajiv Gandhi Equity Savings Scheme, The Scheme aims at widening the retail investor base in the Indian securities markets and also furthers the goal of financial stability and financial inclusion. Further, vide Finance Act, 2013, certain conditions under RGESS were liberalized. Ministry of Finance thereafter vide Notification no. 94/2013 F. No. 142/35/2012 -TPL dated December 18, 2013 notified RGESS, 2013 i.e. the amended RGESS. 2. What is the tax benefit under RGESS? The Scheme is an Eligible Security in accordance with RGESS. As per Section 80CCG of the Income Tax Act, 1961, a resident individual who acquires listed equity shares or listed units of equity oriented mutual fund in accordance with the RGESS, is entitled to a deduction of 50% of the amount invested from his total income to the extent the deduction does not exceed Rs.25,000/-. The deduction under Section 80CCG of the Income Tax Act, 1961 is in addition to the deduction available under Section 80C of the Income Tax Act, A New Retail Investor shall be eligible for the tax benefit under RGESS for a block of three consecutive financial years beginning with the Initial Year (as defined in RGESS), in respect of the investment made in each financial year. The deduction shall be subject to following conditions: The gross total income of the investor for the relevant year does not exceed Rs.12 lakhs (increased from Rs.10 Lakhs (FY ) to Rs.12 Lakhs (FY )); The investor is a 'New Retail Investor' as specified in RGESS; The investment is made in such listed equity shares or listed units of equity oriented mutual fund as specified in RGESS; The investment is locked-in for a 3 year period as provided in RGESS; and Such other conditions as may be prescribed by the Ministry of Finance If an investor, in a subsequent year fails to comply with any of the above conditions, the taxability would be as provided under RGESS. Page 1 of 9

2 3. What is initial year? Initial Year means: (a) the financial year in which the investor designates his demat account as RGESS account and makes investment in the Eligible Securities for availing deduction under RGESS; or (b) the financial year in which the investor makes investment in Eligible Securities for availing deduction under RGESS for the first time, if the investor does not make any investment in Eligible Securities in the financial year in which the account is so designated. For e.g. Date of designating demat account as RGESS account: January 1, 2013 i.e. in financial year Date of RGESS investment: June 1, 2013 i.e in financial year Therefore initial year will be: Financial year Who is a New Retail Investor? New Retail Investor means the following resident individual- (a) who has not opened a demat account and has not made any transactions in the derivative segment before the date of opening of a demat account or the first day of the Initial Year, whichever is later: Provided that an individual who is not the first account holder of an existing joint demat account shall be deemed to have not opened a demat account for the purposes of RGESS; or (b) who has opened a demat account but has not made any transactions in the equity segment or the derivative segment before the date he designates his existing demat account for the purpose of availing the benefit under RGESS or the first day of the Initial Year, whichever is later In case of joint accounts, only the first account holder will be considered as the existing retail investor. All those existing account holders other than the first demat account holder (eg. second / third account holders or other joint holders) or nominees of the existing account holders will be considered as new retail investors for the purpose of opening of a fresh RGESS account, if otherwise eligible. Page 2 of 9

3 In case the demat account is opened as a first holder, but there are no transactions in the equity or derivate segment, still in such case the first account holder can be considered eligible for New Retail Investor. 5. What is the procedure for investment under the scheme? A new retail investor can invest in one or more financial years in a block of three consecutive financial years beginning with the initial year as defined above. The new retail investor shall be eligible for tax benefits under the Scheme only for three consecutive financial years beginning with the initial year, in respect of the investment made in each financial year. If the new retail investor does not invest in any financial year following the initial year, he may invest in the subsequent financial year, within a block of three consecutive financial years beginning with the initial year, in accordance with the Scheme. For e.g. : In the block of 3 years, if an investor invests first time in Eligible Securities under RGESS in the first year i.e. FY and avails deduction. Suppose, he does not make any investment in the second year, i.e. FY then he can claim tax deduction u/s 80 CCG only for investments made in the third year i.e. FY I possess some physical shares; Am I eligible under RGESS? Yes. You will be considered as a new retail investor, if otherwise eligible. However, you need to make fresh investments in RGESS eligible securities to avail of the benefits under RGESS. You will not be eligible to claim benefits under RGESS in case the shares held in physical are converted into dematerialisation prior to designating your demat account as RGESS demat account. 7. I am already having units of mutual fund and / or Exchange Traded Funds; Am I eligible for the RGESS? Yes. Prior investments in mutual funds and Exchange Traded Funds do not make an investor ineligible for RGESS. However, you need to invest afresh in RGESS eligible mutual fund /ETF schemes and hold them in a demat account as per the conditions laid down under RGESS to avail the benefits. 8. What is HDFC RGESS- Series 2? HDFC Rajiv Gandhi Equity Savings Scheme- Series 2 (HDFC RGESS - Series 2) is a Close ended Equity Scheme investing in Eligible Securities as per Rajiv Gandhi Equity Savings Scheme. Investments in this Scheme shall be eligible for tax deduction under Section 80CCG of Incometax Act, 1961 on complying with other relevant provisions. HDFC RGESS - Series 2 has a term/duration of 3 years from the date of allotment of units. The units of the scheme will be compulsorily and without any further act by the Unit holder(s) redeemed on the Maturity / Final Page 3 of 9

4 Redemption Date. HDFC RGESS Series 2 will be listed on the capital market segment of BSE and NSE. 9. Is HDFC RGESS available for investors other than new retail investors for subscription? Yes. HDFC RGESS is available for investment for any investor looking to invest in equity securities. 10. What are Eligible Securities where HDFC RGESS- Series 2 can invest? The eligible Securities for HDFC RGESS - Series 2 are as follows: a. Equity shares, on the day of purchase, falling in the list of equity declared as "BSE-100" or "CNX-100" by the Bombay Stock Exchange or the National Stock Exchange,as the case may be; b. Equity shares of public sector enterprises which are categorised as Maharatna, Navratna or Miniratna by the Central Government; c. Follow on Public Offer of a and b above; d. Initial Public Offer of a public sector undertaking wherein the Government shareholding is at least fifty-one per cent which is scheduled for getting listed in the relevant previous year and whose annual turnover is not less than four thousand crore rupees during each of the preceding three years. 11. Is there any lock-in on the investment made in HDFC RGESS - Series 2? There is no lock-in on the Units held under HDFC RGESS - Series 2 by the Unit holders not intending to avail any tax deduction under RGESS. Since the Fund is Close-ended, investors cannot redeem their units directly with the mutual fund until maturity /final redemption date. Investors have an exit option through the stock exchanges, since the units will be listed and traded on the stock exchanges. However, for those unitholders who wish to claim tax deduction under Section 80CCG of Income-tax Act, 1961, will have to comply with the lock-in provisions (fixed and flexible) as stated in the RGESS Notification issued by Ministry of Finance. 12. Is there any lock-in period on the investment made in HDFC RGESS - Series 2 for claiming tax deduction? Yes. Units held under HDFC RGESS - Series 2 by the Unit holders and as declared/designated for availing tax benefits shall be subject to lock-in-periods viz. fixed lock-in and flexible lock-in as Page 4 of 9

5 specified under the notified RGESS. The total lock-in period for investments under RGESS would be three years including the fixed lock-in period and the flexible lock in period. The fixed lock-in period will commence from the date of purchase of Eligible Securities under RGESS in the relevant financial year till March 31 of the year immediately following the relevant financial year. For e.g. If Eligible Securities are purchased on , the fixed lock-in period will be from to and the flexible lock-in period will be from to The flexible lock-in period shall be the period of two years beginning immediately after the end of the fixed lock-in period. However, the investor is permitted to trade in eligible securities during this period. However, he needs to comply with the requirements mentioned in the RGESS Notification issued by Ministry of Finance. The Depositories will be required to ensure the enforcement of the lock-in on Units under the Scheme. 13. Is it mandatory to have a demat account to invest in HDFC RGESS- Series 2? Demat account is not compulsory for investing in this HDFC RGESS - Series 2. However, investing in demat form is compulsory for an investor who wishes to avail tax benefits under Section 80 CCG of Income-tax Act, Therefore demat details should be specified in the application form. Other investors can hold units in this Scheme either in physical or demat form. Unit holders holding Units in physical and/or converting physical units into demat will not be eligible for claiming tax deduction under HDFC RGESS - Series How to open RGESS demat account with a Depository Participant (DP)? You may approach any registered DP to open a demat account under RGESS. The list of DPs registered with NSDL and CDSL is available on the NSDL website, and CDSL website, You are required to fulfill the Know your client (KYC) norms prescribed by SEBI by submitting proof of identity, proof of address, etc. and provide PAN to the DP with whom you wish to open a demat account along with a declaration in prescribed format (i.e., Form A ) for availing RGESS benefits. Page 5 of 9

6 For more details see the FAQ given by NSDL and CDSL on their respective website. 15. Is there any maximum limit for investment in HDFC RGESS - Series 2? There is no maximum limit for investment in HDFC RGESS - Series 2. However, investors availing of RGESS tax benefits should note that the maximum investment for which RGESS tax benefits are available is Rs 50,000 in each financial year which includes investment made across all RGESS eligible securities. These investments can be made in instalments. 16. Is the tax benefit for investment in HDFC RGESS - Series 2 over and above of Rs 1 lakh deduction currently available under section 80C of the Income- tax Act, 1961? Yes, the tax deduction for RGESS is u/s 80CCG and it is over and above the Rs. 1 lakh limit specified u/s 80C of the Income-tax Act, How much tax deduction will I be eligible for under RGESS? You will be eligible to get tax deduction u/s 80CCG on 50% of the amount invested. Let us say, you invest Rs.50, 000 under RGESS, the amount eligible for tax deduction will be Rs.25, 000 from your taxable income. Let us say, you invest Rs.40, 000 under RGESS, the amount eligible for tax deduction will be Rs.20,000 from your taxable income. This deduction is over and above Rs. 1 lakh limit specified under Section 80C. 18. If I make a onetime investment of Rs 50,000 under RGESS 2013, can I claim the deduction for the same investments in each of the three financial years for Rs 50,000? No, the new retail investor, who has once claimed a deduction under sub- section (1) of section 80CCG of the Act, in any assessment year, shall not be allowed any deduction under the Scheme for the same investment for any other subsequent assessment year. 19. How many times can I invest in RGESS securities to avail tax benefits under section 80CCG of the Income Tax Act, 1961? The investor may invest in one or more financial years in a block of three consecutive financial years beginning with the Initial Year. If the investor does not invest in any financial year following the Initial Year, he may invest in the subsequent financial year, within the three consecutive financial years beginning with the Initial Year. The investor shall be eligible for the tax benefit under RGESS in respect of the investment made in each financial year. Page 6 of 9

7 For e.g.: If an investor invests first time in Eligible Securities under RGESS in FY and avails deduction, he may also invest in either or both of FY and FY and avail deduction for the relevant year(s). 20. Will I get tax deduction every year for investment in RGESS? Yes. Deduction can be claimed for investments made in each of the three financial years. For each year, the maximum permissible Investment for claiming deduction under RGESS is Rs.50, 000/- and the investor would get a 50% deduction of the amount invested from the taxable income. 21. Can I invest more than Rs.50, 000 and claim tax benefit under RGESS? You may invest any amount in a demat account designated under RGESS, but the tax benefit under RGESS can be claimed only on investment up to Rs. 50,000 in each financial year. 22. What are the eligible securities where an investor can invest to get the deduction u/s 80CCG? Further to the eligible securities where HDFC RGESS Series 2 would be investing as mentioned above, an investor can also invest in, the Units of Exchange Traded Funds (ETFs) or Mutual Fund schemes or equity oriented funds which have Eligible Securities as their underlying and are listed and traded on the stock exchanges and settled through a depository mechanism, to get the deduction under Section 80CCG of the Income-tax Act, If a person has invested under the RGESS 2012, is he eligible to invest under the new notification? Yes. Investors who invested under RGESS 2012 are also eligible to invest in Financial Years and and avail benefits under RGESS Investments made under RGESS 2012 will be governed by the provisions of RGESS 2012 only to the extent the provisions of RGESS 2012 are not in contravention of RGESS If the investor who designated his demat account under RGESS 2012 and claimed tax benefit u/s 80 CCG does any equity share trading subsequently will he be eligible to invest under RGESS 2013? Yes. The investor will be eligible to make an investment under RGESS 2013 in the same demat account which has been designated as RGESS demat account in 2013 subject to the terms and conditions mentioned under the relevant notification. Page 7 of 9

8 25. How does the New Retail Investor claim tax benefit under this scheme? The New Retail Investor will have to submit a declaration, as in Form A, to the Depository Participant (DP) at the time of account opening or designating his existing demat account for taking the benefits under RGESS. Eligible securities, which are brought thereafter into such an account, will be automatically subject to lock-in upto a value of Rs. 50,000, unless the investor specifies otherwise through the Form B specified in this regard. 26. What is Form A under RGESS? Form A is declaration to be submitted by the investors to DP for availing the benefits under RGESS. 27. What is Form B under RGESS? Form B is a declaration to be submitted by New Retail Investor to a DP on purchase of eligible securities which are not to be included as RGESS investment. This will ensure that these securities are not locked in by the depository. This form has to be submitted within 1 month from the date of purchase /allotment of eligible securities to the DP. 28. Can I claim tax deduction in respect of the amount invested in eligible securities which are specified in Form B? No. 29. What will be the mode of holding eligible securities for availing tax benefit under RGESS? The mode of holding eligible securities under RGESS will be in a Demat account. You cannot hold securities in physical form to avail the benefits of RGESS. 30. Can I designate or open more than one demat account for RGESS? No. You can have only one demat account under RGESS, across depositories (i.e., NSDL / CDSL). 31. Are the returns under RGESS guaranteed? Returns under the RGESS Scheme are not guaranteed. Page 8 of 9

9 To know more about RGESS read - (i) RGESS Notification Dated November 23, 2012 Dated December 18, 2013 (ii) Section 80CCG of the Income-tax Act, 1961 (iii) FAQs on RGESS available at NSDL website, CDSL website, Disclaimer: The FAQs are prepared by HDFC Asset Management Company Limited (HDFC AMC) on HDFC Rajiv Gandhi Equity Savings Scheme Series 2, a close-ended equity scheme investing in eligible securities as per Rajiv Gandhi Equity Savings Scheme. While utmost care has been exercised while preparing the FAQs, HDFC Mutual Fund / HDFC AMC does not warrant the completeness and absolute accuracy or completeness of this information and disclaims all liabilities, losses and damages arising out of the use of this information. The recipient alone shall be fully responsible / liable for any decision taken on the basis of this material. The recipients should before investing make their own investigation, read the Scheme Information Document and the Statement of Additional Information and seek appropriate professional advice. In view of individual nature of tax consequences, each investor is advised to consult his/ her own professional tax advisor for availing tax deductions under Section 80CCG of the Income- tax Act, MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. Page 9 of 9

FAQs: Rajiv Gandhi Equity Saving Scheme (RGESS), 23 NOV 2012

FAQs: Rajiv Gandhi Equity Saving Scheme (RGESS), 23 NOV 2012 FAQs: Rajiv Gandhi Equity Saving Scheme (RGESS), 23 NOV 2012 1. What is Rajiv Gandhi Equity saving Scheme 2012 (RGESS) and its objective? A tax-saving scheme launched by the Government of India with the

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions 1. What is tax planning? Tax planning is an essential part of financial planning. Tax planning is use to reduce tax liability by optimally using the provisions of tax exemptions

More information

From The Editor, s Desk

From The Editor, s Desk January 2016 From The Editor, s Desk Dear Reader, As quoted by Benjamin Franklin, nothing can be said to be certain, except death and taxes. Multiple options, contradictory advice and a deadline that's

More information

Mutual Funds Investing

Mutual Funds Investing Mutual Funds Investing (Source: AMFI Website-www.amfiindia.com) There's no rocket science involved with Mutual Funds. They are easy to understand. Most people get scared simply hearing the term Mutual

More information

Commonly Asked Questions on BSE StAR MF

Commonly Asked Questions on BSE StAR MF Say Goodbye to Mutuall Funds Applliicatiion Forms Commonly Asked Questions for Mutual Fund Distributors (MFDs) Commonly Asked Questions on BSE StAR MF 1. How is StAR MF different from the existing process

More information

HDFC Retirement Savings Fund

HDFC Retirement Savings Fund Feb 05, 2016 NFO Note HDFC Savings Fund Prologue: HDFC Mutual Fund has launched a New Fund named HDFC Savings Fund, an open ended tax savings cum pension fund. The NFO has opened for subscription on Feb

More information

How to Start Trading in Shares & Select the Best Demat and Trading Account

How to Start Trading in Shares & Select the Best Demat and Trading Account How to Start Trading in Shares & Select the Best Demat and Trading Account Today we will understand the steps that you need to take before starting to trade in the share market. Basically you require a

More information

The Float Guide How to float a company in India

The Float Guide How to float a company in India The Float Guide How to float a company in India Contact: Haigreve Khaitan Khaitan & Co haigreve.khaitan@khaitanco.com INTRODUCTION This guide introduces the practice and procedure related to public floats

More information

FAQs FOR NRI - TRADING ACCOUNT

FAQs FOR NRI - TRADING ACCOUNT FAQs FOR NRI - TRADING ACCOUNT Q1 Definition of Non-Resident Indian (NRI)? Foreign Exchange Regulation Act (FERA) defines Non-Resident Indian (NRI) as a person who is not resident in India but who is a

More information

FAQs 1. WHAT IS AN INSTITUTIONAL TRADING PLATFORM ( ITP ) AND HOW IS IT DIFFERENT FROM OTHER TRADING PLATFORMS?

FAQs 1. WHAT IS AN INSTITUTIONAL TRADING PLATFORM ( ITP ) AND HOW IS IT DIFFERENT FROM OTHER TRADING PLATFORMS? LISTING ON INSTITUTIONAL TRADING PLATFORM UNDER THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 FAQs 1. WHAT IS AN INSTITUTIONAL TRADING PLATFORM

More information

Addendum. This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund.

Addendum. This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund. Addendum This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund. Date of Enactment of Finance Bill 2015: 14th May 2015 Section VI. TAX & LEGAL & GENERAL

More information

Tax Rates for Mutual Fund Investors 1 as per the Finance (No. 2) Act, 2014 SNAPSHOT

Tax Rates for Mutual Fund Investors 1 as per the Finance (No. 2) Act, 2014 SNAPSHOT Tax Rates for Mutual Fund Investors 1 as per the Finance (No. 2) Act, 2014 SNAPSHOT Short Term Capital Gains Tax 2 EQUITY ORIENTED FUNDS (SUBJECT TO STT 3 ) Long Term Capital Gains Tax 2 Dividend Income

More information

CHAPTER II INCIDENCE AND LEVY OF TAX

CHAPTER II INCIDENCE AND LEVY OF TAX CHAPTER II INCIDENCE AND LEVY OF TAX Incidence Tax 3 (1) Liability: - Subject to other provisions of this Act, every dealer - (a) whose turnover during the year immediately preceding the commencement of

More information

FAQs FOR NRI - TRADING ACCOUNT

FAQs FOR NRI - TRADING ACCOUNT FAQs FOR NRI - TRADING ACCOUNT Q1 Q2 Q3 Who is a non-resident Indian (NRI)? Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India or is a person of Indian origin"[as

More information

1. Issued and Paid up capital Minimum issued, paid up and listed equity capital Rs 10 crores.

1. Issued and Paid up capital Minimum issued, paid up and listed equity capital Rs 10 crores. Norms for Direct Listing for Companies which are listed with Recognized Stock Exchanges with Average Daily Turnover Less than Rs.500 Crores in equity segment during immediate previous Financial Year. Applicable

More information

Primer. A Primer on Debentures. Team Vinod Kothari & Company. November 24, 2012 (Updated on July 19, 2013)

Primer. A Primer on Debentures. Team Vinod Kothari & Company. November 24, 2012 (Updated on July 19, 2013) A on Debentures Team Vinod Kothari & Company November 24, 2012 (Updated on July 19, 2013) Check at: http://india-financing.com/staffpublications.html for more write ups Copyright: This write up is the

More information

Frequently Asked Question Mutual Fund Service System (MFSS) for Investors

Frequently Asked Question Mutual Fund Service System (MFSS) for Investors Frequently Asked Question Mutual Fund Service System (MFSS) for Investors 1. What is MFSS? Mutual Fund Service System (MFSS) is an online order collection system provided by NSE to its eligible members

More information

5. Can Units of all Mutual Funds and all Schemes be subscribed or redeemed using MFSS?

5. Can Units of all Mutual Funds and all Schemes be subscribed or redeemed using MFSS? 4. Who all can are eligible to participate in MFSS? Individuals, HUF and Body Corporate can participate in MFSS subject to completing the KYC procedure. In case of a minor the guardian would have to be

More information

¼ããÀ ããè¾ã ¹ãÆãä ã¼ãîãä ã ããõà ãäìããä ã½ã¾ã ºããñ Ã

¼ããÀ ããè¾ã ¹ãÆãä ã¼ãîãä ã ããõà ãäìããä ã½ã¾ã ºããñ à CIRCULAR CIR/MRD/DSA/33 /2013 October 24, 2013 To All Stock Exchanges Dear Sir/Madam, Sub: Listing of specified securities of small and medium enterprises on the Institutional Trading Platform in a SME

More information

Frequently Asked Questions by Investors

Frequently Asked Questions by Investors (I) Basics 1) What do you mean by Conversion of Mutual Fund Units (represented by Statement of Account)? If you are holding Mutual Fund Units in physical form, which are represented by Statement of Account,

More information

One India Bulls Centre, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013

One India Bulls Centre, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013 Common Scheme Information Document (ETFs) Birla Sun Life Gold ETF (An Open ended Gold Exchange Traded Fund) Birla Sun Life Nifty ETF (An Open ended, Index Linked, Exchange Tradedd Fund) NAME OF SCHEME

More information

PROFESSIONAL PROGRAMME Company Law Tax Laws

PROFESSIONAL PROGRAMME Company Law Tax Laws Clarificatory Answers to the Academic Queries raised by Students pertaining to December 2014 Examination PROFESSIONAL PROGRAMME Company Law Tax Laws Disclaimer These FAQs are specifically developed for

More information

(i) after Chapter XB, the following Chapter shall be inserted, namely:-

(i) after Chapter XB, the following Chapter shall be inserted, namely:- THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, OCTOBER 8, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8 th October, 2013 SECURITIES AND

More information

NISM-SERIES-V-A: MUTUAL FUND DISTRIBUTORS CERTIFICATION EXAMINATION CORRIGENDUM

NISM-SERIES-V-A: MUTUAL FUND DISTRIBUTORS CERTIFICATION EXAMINATION CORRIGENDUM NISM-SERIES-V-A: MUTUAL FUND DISTRIBUTORS CERTIFICATION EXAMINATION Dated: 26 September, 2012 For workbook Version: July, 2011 CORRIGENDUM Please refer to this corrigendum for examinations on or after

More information

Mirae Asset Tax Saver Fund (An open ended equity linked saving scheme with a 3 year lock-in period)

Mirae Asset Tax Saver Fund (An open ended equity linked saving scheme with a 3 year lock-in period) Mirae Asset Tax Saver Fund (An open ended equity linked saving scheme with a 3 year lock-in period) November 2015 NFO Start Date: 20 th Nov, 2015 @ NFO End Date: 18 th Dec, 2015 @ Scheme re-opens for continuous

More information

CPSE EXCHANGE TRADED. CPSE ETF July Riskometer. (An Open-ended Index Exchange Traded Scheme)

CPSE EXCHANGE TRADED. CPSE ETF July Riskometer. (An Open-ended Index Exchange Traded Scheme) CPSE ETF July 2016 Managed by Goldman Sachs Asset Management (India) Private Limited CPSE EXCHANGE TRADED Riskometer SCHEME (An Open-ended Index Exchange (CPSE Traded Scheme) ETF) (Rajiv Gandhi Equity

More information

Save Taxes Wisely. October 2012

Save Taxes Wisely. October 2012 Save Taxes Wisely October 2012 1 Background Salient Features of Section 80C of the Income tax Act, 1961 Section 80C of Income Tax Act, 1961 w.e.f. April 1, 2005 (A.Y. 2006-07) provides for deduction from

More information

FAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013

FAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013 FAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013 Q.1. What is an Institutional Trading Platform and is it different from

More information

FINANCE BILL, 2013 PROVISIONS RELATING TO DIRECT TAXES

FINANCE BILL, 2013 PROVISIONS RELATING TO DIRECT TAXES FINANCE BILL, 2013 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of the Finance Bill, 2013 relating to direct taxes seek to amend the Income-tax Act, Wealth-tax Act and Finance (No.2)

More information

RATED AS [ICRA]AAAmfs(SO)! by ICRA*

RATED AS [ICRA]AAAmfs(SO)! by ICRA* DRAFT SCHEME INFORMATION DOCUMENT UNION KBC CAPITAL PROTECTION ORIENTED FUND SERIES 3 A Close-ended Capital Protection Oriented Scheme Offer of Units of ` 10 each for cash during the New Fund Offer Period

More information

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series I

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series I APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016-17 Series I (Put wherever required) Name of Receiving Office Name of Branch: Mode of Subscription Cash Cheque / DD Electronic Transfer Grams of Gold Applied

More information

Table of Contents. it s The Season for Tax Investments. Product Features. Asset Allocation Pattern. Scheme Performance. Disclaimer.

Table of Contents. it s The Season for Tax Investments. Product Features. Asset Allocation Pattern. Scheme Performance. Disclaimer. March 2016 1 Table of Contents it s The Season for Tax Investments Background Why ELSS? Why HDFC TaxSaver? The Economy & Equity Market outlook Product Features Asset Allocation Pattern Scheme Performance

More information

Dematerialisation of Shares :

Dematerialisation of Shares : Dematerialisation of Shares : Q. What is Dematerialisation (Demat) and what are its benefits? A. Demat signifies the conversion of a share certificate from its present physical form to electronic form

More information

FAQs on Income-Tax based on Budget, 2014

FAQs on Income-Tax based on Budget, 2014 FAQs on Income-Tax based on Budget, 2014 By Subhash Lakhotia Tax & Investment consultant For TARI Question 1 : For the benefit of our readers can you please highlight 14 important points from out of the

More information

Background Salient Features of Section 80C of the Income tax Act, 1961

Background Salient Features of Section 80C of the Income tax Act, 1961 Save Taxes Wisely 1 Background Salient Features of Section 80C of the Income tax Act, 1961 Section 80C of Income Tax Act, 1961 w.e.f. April 1, 2005 (A.Y. 2006-07) provides for deduction from gross total

More information

b) Payment by Employer on behalf of employee through Payroll deductions. c) Custodian on behalf of an FII or a client. d) Payment by AMC to a distributor empanelled with it on account of commission / incentive

More information

CIRCULAR - F.Y.2015-16

CIRCULAR - F.Y.2015-16 INTAS PHARMACEUTICALS LTD. CIRCULAR - F.Y.2015-16 TAX SCHEDULE: 1.For resident individual(who is of the age of below 60 years at any time duringthe previous year)the basic exemption limit of income is

More information

HATHWAY CABLE & DATACOM LIMITED CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING

HATHWAY CABLE & DATACOM LIMITED CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING HATHWAY CABLE & DATACOM LIMITED CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING HATHWAY CABLE & DATACOM LIMITED 1. Definitions 1.1 Act means the Securities and Exchange Board

More information

Sub: Buyback of equity shares by OnMobile Global Limited- Board Resolution Copy

Sub: Buyback of equity shares by OnMobile Global Limited- Board Resolution Copy February 5, 2016 Bangalore To Securities and Exchange Board of India Plot No. C4-A, G Block Bandra Kurla Complex, Bandra East Mumbai 400 051 Dear Sir/Madam, Sub: Buyback of equity shares by - Board Resolution

More information

TV18 Broadcast Limited

TV18 Broadcast Limited TV18 Broadcast Limited CODE FOR PREVENTION OF INSIDER TRADING [IN TERMS OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 S.NO. CONTENTS PAGE NO. CHAPTER I A Introduction 1 B Objective 1 C Definitions

More information

Taxation of Income and Capital Gains from Mutual Fund Units

Taxation of Income and Capital Gains from Mutual Fund Units Taxation of Income and Capital Gains from Mutual Fund Units Types of Mutual Fund Schemes 1. Equity (a) Index Fund (b) Large Cap Fund (c) Small Cap Fund (d) Mid Cap Fund (e) Arbitrage Fund (f) Sector Specific

More information

2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), after rule 10UC the following rules shall be inserted, namely:-

2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), after rule 10UC the following rules shall be inserted, namely:- [TO BE PUBLSIHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (INCOME TAX)

More information

Save Taxes Wisely. November 30, 2011

Save Taxes Wisely. November 30, 2011 Save Taxes Wisely November 30, 2011 1 Background Salient Features of Section 80C of the Income tax Act, 1961 Section 80C of Income Tax Act, 1961 w.e.f. April 1, 2005 (A.Y. 2006-07) provides for deduction

More information

CA Final Course Paper 2 Strategic Financial Management Chapter 9 CA Biharilal Deora

CA Final Course Paper 2 Strategic Financial Management Chapter 9 CA Biharilal Deora CA Final Course Paper 2 Strategic Financial Management Chapter 9 CA Biharilal Deora Mutual Fund is a trust that pools together the resources of investors for investments in the capital markets. The fund

More information

Reliance Vision Fund. Reliance Pharma Fund An open-ended Pharma Sector Scheme. Reliance Equity Fund. Reliance Equity Advantage Fund

Reliance Vision Fund. Reliance Pharma Fund An open-ended Pharma Sector Scheme. Reliance Equity Fund. Reliance Equity Advantage Fund Reliance Capital Asset Management Limited A Reliance Capital Company Continuous offer of open-ended schemes at NAV based prices Reliance Growth Fund An open-ended Equity Growth Reliance Vision Fund An

More information

INDIAN BANKS: SENIOR CITIZEN BENEFITS & SCHEMES

INDIAN BANKS: SENIOR CITIZEN BENEFITS & SCHEMES INDIAN BANKS: SENIOR CITIZEN BENEFITS & SCHEMES Union Bank of India: Interest Rate Benefit in Term Deposits to Senior Citizens (Source of Information: www.unionbankofindia.co.in/personal_benifit_senior_citizen.aspx,

More information

Venture Capital Fund & Angel Fund Under SEBI (Alternate Investment Fund) Regulations 2012 Explained

Venture Capital Fund & Angel Fund Under SEBI (Alternate Investment Fund) Regulations 2012 Explained & Under SEBI (Alternate Investment Fund) Regulations 2012 Explained As per SEBI (Alternative Investment Funds) Regulations, 2012, 3 broad categories of funds have been classified to be registered under

More information

CONSOLIDATED SCHEME INFORMATION DOCUMENT OF: This Product is suitable for investors who are seeking*:

CONSOLIDATED SCHEME INFORMATION DOCUMENT OF: This Product is suitable for investors who are seeking*: CONSOLIDATED SCHEME INFORMATION DOCUMENT OF: Name/ Type of the Scheme ICICI Prudential Monthly Income Plan (Monthly Income is not assured and is subject to availability of distributable surplus) Open Ended

More information

CHAPTER II COMMON CONDITIONS FOR PUBLIC ISSUES AND RIGHTS ISSUES

CHAPTER II COMMON CONDITIONS FOR PUBLIC ISSUES AND RIGHTS ISSUES CHAPTER II COMMON CONDITIONS FOR PUBLIC ISSUES AND RIGHTS ISSUES General conditions. 4. (1) Any issuer offering specified securities through a public issue or rights issue shall satisfy the conditions

More information

II. DEMAT ACCOUNT OPENING

II. DEMAT ACCOUNT OPENING II. DEMAT ACCOUNT OPENING 1. What are the benefits of opening a demat account for investors? A demat account has become a necessity for all categories of investors for the following: a. SEBI has made it

More information

SECURITIES AND EXCHANGE BOARD OF INDIA SEBI INVESTOR EDUCATION PROGRAMME (INVESTMENTS IN MUTUAL FUNDS)

SECURITIES AND EXCHANGE BOARD OF INDIA SEBI INVESTOR EDUCATION PROGRAMME (INVESTMENTS IN MUTUAL FUNDS) SECURITIES AND EXCHANGE BOARD OF INDIA SEBI INVESTOR EDUCATION PROGRAMME (INVESTMENTS IN MUTUAL FUNDS) Introduction Different investment avenues are available to investors. Mutual funds also offer good

More information

Religare Invesco Tax Plan 1. Religare Invesco Growth Fund 1. Religare Invesco Arbitrage Fund 2. Religare Invesco Contra Fund 2

Religare Invesco Tax Plan 1. Religare Invesco Growth Fund 1. Religare Invesco Arbitrage Fund 2. Religare Invesco Contra Fund 2 Equity Schemes Table of Contents Page No. Religare Invesco Tax Plan Religare Invesco Growth Fund Religare Invesco Arbitrage Fund Religare Invesco Contra Fund Religare Invesco Equity Fund 3 Religare Invesco

More information

AN OVERVIEW ON AUDIT OF PORTFOLIO MANAGEMENT SERVICES

AN OVERVIEW ON AUDIT OF PORTFOLIO MANAGEMENT SERVICES AN OVERVIEW ON AUDIT OF PORTFOLIO MANAGEMENT SERVICES By CA Gautam Mota and Vivek Gala Introduction: The Indian Capital Market is flourishing since 1990s post liberalization of economy with a large participation

More information

Combined Key Information Memorandum and Application Forms

Combined Key Information Memorandum and Application Forms Combined Key Information Memorandum and Application Forms Ongoing Offer: Issue of Units at Applicable NAV L&T Equity Fund An open-ended equity growth scheme L&T India Large Cap Fund An open-ended equity

More information

APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required)

APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required) APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required) Name of Receiving Office Name of Branch: Mode of Subscription Cash Cheque / DD Electronic Transfer Grams of Gold Applied

More information

Listing of Small and Medium Enterprises (SMEs) and Start-Up Companies on SME platform without making an Initial Public Offer.

Listing of Small and Medium Enterprises (SMEs) and Start-Up Companies on SME platform without making an Initial Public Offer. Listing of Small and Medium Enterprises (SMEs) and Start-Up Companies on SME platform without making an Initial Public Offer. 1.0 Objective The Finance Minister in his budget speech on Feb 28, 2013 announced

More information

Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993

Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 Central Government hereby notifies the following scheme, for facilitating issue of Foreign

More information

CHAPTER III THE INCIDENCE, LEVY AND RATE OF TAX. 9. There shall be levied in accordance with the provisions of this Act,

CHAPTER III THE INCIDENCE, LEVY AND RATE OF TAX. 9. There shall be levied in accordance with the provisions of this Act, CHAPTER III THE INCIDENCE, LEVY AND RATE OF TAX Charge to tax and incidence. 9. There shall be levied in accordance with the provisions of this Act, (a) a Value Added Tax hereinafter called VAT on the

More information

CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING. (Amended version as approved by the Board of Directors of the Company)

CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING. (Amended version as approved by the Board of Directors of the Company) I. PREAMBLE CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING (Amended version as approved by the Board of Directors of the Company) The Securities and Exchange Board of India (Prohibition of Insider Trading)

More information

ASSOCIATION OF MUTUAL FUNDS IN INDIA LEVY OF SERVICE TAX VIS-À-VIS MUTUAL FUNDS A GUIDANCE NOTE

ASSOCIATION OF MUTUAL FUNDS IN INDIA LEVY OF SERVICE TAX VIS-À-VIS MUTUAL FUNDS A GUIDANCE NOTE ASSOCIATION OF MUTUAL FUNDS IN INDIA LEVY OF SERVICE TAX VIS-À-VIS MUTUAL FUNDS A GUIDANCE NOTE A. BACKGROUND: Vide Finance Act, 2003, a new taxable service under the heading Business Auxiliary Service

More information

FREQUENTLY ASKED QUESTIONS (FAQs) SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014

FREQUENTLY ASKED QUESTIONS (FAQs) SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014 FREQUENTLY ASKED QUESTIONS (FAQs) SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014 Disclaimer: These FAQs are prepared with a view to guide market participants on SEBI (Research Analysts) Regulations, 2014 ("RA

More information

SEMINAR ON ACCOUNTING & TAXATION OF STOCK BROKERS

SEMINAR ON ACCOUNTING & TAXATION OF STOCK BROKERS SEMINAR ON ACCOUNTING & TAXATION OF STOCK BROKERS Service Tax with respects to Stock Brokers & Depositary Participants By CA. Manish Gadia On Saturday 23 rd November, 2013 At J.S. Lodha Auditorium, ICAI

More information

Update. SEBI introduces REIT in India- issues draft SEBI (Real Estate Investment Trusts) Regulations, 2013. CS Vinita Nair vinita@vinodkothari.

Update. SEBI introduces REIT in India- issues draft SEBI (Real Estate Investment Trusts) Regulations, 2013. CS Vinita Nair vinita@vinodkothari. SEBI introduces REIT in India- issues draft SEBI (Real Estate CS Vinita Nair vinita@vinodkothari.com Date: October 16, 2013 Check at: http://india-financing.com/staff-publications.html for more write ups.

More information

LIMITED LIABILITY PARTNERSHIP IMPORTANT PROVISIONS ABSTRACT The Indian Legislature, keeping in view, the international business trends where a range of services is being offered by professionals and businesses

More information

CIRCULAR. Sub.: Applications Supported by Blocked Amount (ASBA) facility in public issues

CIRCULAR. Sub.: Applications Supported by Blocked Amount (ASBA) facility in public issues CIRCULAR CIR/CFD/DIL/7/2010 July 13, 2010 To All Stock Exchanges To All Registered Merchant Bankers To All Registered Registrars to an Issue To All Registered Bankers to an Issue Dear Sirs, Sub.: Applications

More information

november 2013 Three Simple investment options for ShorTerm

november 2013 Three Simple investment options for ShorTerm november 2013 Three Simple investment options for ShorTerm short term investing contents Three simple investment options... 2 Matching funds to needs... 6 Liquid funds... 8 Fixed maturity plans... 18

More information

Offer letter to Share Holders

Offer letter to Share Holders Page 1 of 5 OFFER LETTER TO SHARE HOLDERS OFFER LETTER FOR EXIT OPPORTUNITY ON DELISTING OF EQUITY SHARES OF SUN PHARMACEUTICAL INDUSTRIES LIMITED FROM THE STOCK EXCHANGE _ AHMEDABAD, THE CALCUTTA STOCK

More information

Debt Mutual Funds Scenario post the Finance Bill (No.2), 2014

Debt Mutual Funds Scenario post the Finance Bill (No.2), 2014 August 25, 2014 Debt Mutual Funds Scenario post the Finance Bill (No.2), 2014 The amendments proposed in the Union Budget 2014 on the tax provisions applicable to the non equity mutual funds have stripped

More information

Investor s FAQ. What care should I take while buying or selling securities? What amount of stamp duty should I affix on the transfer deed?

Investor s FAQ. What care should I take while buying or selling securities? What amount of stamp duty should I affix on the transfer deed? Investor s FAQ What care should I take while buying or selling securities? Purchase or sell securities only through authorized stockbrokers duly registered with Stock Exchanges. Ensure that you receive

More information

Head Office: E-Block, Connaught Place, New Delhi BSDA

Head Office: E-Block, Connaught Place, New Delhi BSDA Head Office: E-Block, Connaught Place, New Delhi-110 001. RGESS Others BSDA 1 2 [Currently providing only physical statements] 5 6 I/we authorise you to confirm the Auto Pledge Confirmation. I/we authorize

More information

BSE Small and Medium Enterprises (SME) Platform. Nehal Vora Chief Regulatory Officer

BSE Small and Medium Enterprises (SME) Platform. Nehal Vora Chief Regulatory Officer BSE Small and Medium Enterprises (SME) Platform Nehal Vora Chief Regulatory Officer Agenda for today 1 2 3 About the SME Industry Need for an SME Exchange SME Exchange Platform 4 SME Institutional Trading

More information

TAX GUIDE 2014-15 INDEX

TAX GUIDE 2014-15 INDEX TAX GUIDE 2014-15 INDEX Why Do You Need Tax Planning? Tax & investment tips for financial year 2014-15 * Income-tax file for one and all * Investments for Hindu Undivided Family tax file in your kitty

More information

Save Tax & Participate In India s Growth Story

Save Tax & Participate In India s Growth Story Save Tax & Participate In India s Growth Story SAVE TAX UPTO *As per the present tax laws, eligible investors (individual/ HUF) are entitled to deduction from their gross total income, of the amount invested

More information

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, AUGUST 26, 2009 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, 26 th August, 2009 SECURITIES AND EXCHANGE

More information

Private Equity & Venture Capital

Private Equity & Venture Capital Private Equity & Venture Capital Private equity investments in India: a legal and structural overview By Siddharth Shah of Nishith Desai Associates, Mumbai The Indian private equity scenario has undergone

More information

Update. SEBI Allows Promoters of Listed Companies to Sell Shares through Stock Exchange Mechanism. -Nivedita Shankar nivedita@vinodkothari.

Update. SEBI Allows Promoters of Listed Companies to Sell Shares through Stock Exchange Mechanism. -Nivedita Shankar nivedita@vinodkothari. Vinod Kothari & Company SEBI Allows Promoters of Listed Companies to Sell Shares through Stock Exchange Mechanism -Nivedita Shankar nivedita@vinodkothari.com Check at: www.indiafinancing.com/staffpublications.htm

More information

PRACTICE QUESTIONS MUTUAL FUNDS : A BEGINNERS MODULE

PRACTICE QUESTIONS MUTUAL FUNDS : A BEGINNERS MODULE PRACTICE QUESTIONS MUTUAL FUNDS : A BEGINNERS MODULE Q:1 For anybody to start a mutual fund, relevant experience in financial services is mandatory [ 2 Marks ] Q:2 Mutual Funds in India follow a 3-tier

More information

COMBINED SCHEME INFORMATION DOCUMENT CONTINUOUS OFFER

COMBINED SCHEME INFORMATION DOCUMENT CONTINUOUS OFFER COMBINED SCHEME INFORMATION DOCUMENT CONTINUOUS OFFER Offer for units on an ongoing basis at NAV based prices Fund Name Franklin India Bluechip Fund (FIBCF) Templeton India Growth Fund (TIGF) Templeton

More information

FAQ Depository participant (DP) Facilities being offered by PNB s DP Why demat account with PNB? How to open an account with a DP?

FAQ Depository participant (DP) Facilities being offered by PNB s DP Why demat account with PNB? How to open an account with a DP? FAQ Depository participant (DP) A Depository Participant (DP) is an agent appointed by the Depository i.e. National Securities Depository Ltd (NSDL) and/or Central Depository Services Ltd (CDSL) and is

More information

Trading of Government Securities on the Stock Exchanges

Trading of Government Securities on the Stock Exchanges Trading of Government Securities on the Stock Echanges Draft Scheme for comments [Objective With a view to encouraging wider participation of all classes of investors, including retail, across the country

More information

VI. SETTLEMENT OF SECURITIES IN DEMAT MODE

VI. SETTLEMENT OF SECURITIES IN DEMAT MODE VI. SETTLEMENT OF SECURITIES IN DEMAT MODE 1. What is settlement? Investors buy / sale securities on stock exchange platform by placing buy / sale orders through their stock brokers with whom they registered

More information

Kotak Mahindra Mutual Fund

Kotak Mahindra Mutual Fund Kotak Mahindra Mutual Fund 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 KEY INFORMATION MEMORANDUM & APPLICATION FORMS Name of CONTINUOUS OFFER: Unit of all s available at

More information

Government Amendments to the Finance Bill 2016. Clause 3

Government Amendments to the Finance Bill 2016. Clause 3 Government Amendments to the Finance Bill 2016 Clause 3 Clause (29A) of section 2 of the Income-tax Act defines "long-term capital asset" to mean a capital asset which is not a short-term capital asset.

More information

THE UTTARAKHAND VALUE ADDED TAX RULES, 2005

THE UTTARAKHAND VALUE ADDED TAX RULES, 2005 THE UTTARAKHAND VALUE ADDED TAX RULES, 2005 (Substituted by The Uttarakhand Value Added Tax (Amendment) Rules, 2010 vide Notification no.- 557/2010/181(120)/XXVII(8)/2008 Dated: 31 December, 2010 w.e.f.

More information

Accounts & Audit, Loan to Directors, Inter-Corporate Loans & Investments

Accounts & Audit, Loan to Directors, Inter-Corporate Loans & Investments Intensive Training Program on the Companies Act 2013 Accounts & Audit, Loan to Directors, Inter-Corporate Loans & Investments The Institute of Company Secretaries of India New Delhi June 20, 2014 Presentation

More information

CIRCULAR. CIR/CFD/14/2012 October 04, 2012

CIRCULAR. CIR/CFD/14/2012 October 04, 2012 CIRCULAR CIR/CFD/14/2012 October 04, 2012 To All Stock Exchanges All Registered Merchant Bankers All Registered Registrars to an Issue All Registered Bankers to an Issue Dear Sir / Madam, Sub: Public issues

More information

After section 80B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2006, namely:

After section 80B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2006, namely: Insertion of new section 80C. After section 80B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2006, namely: 80C. Deduction in respect of life insurance

More information

Exemptions to Private Companies as per Companies Act, 2013

Exemptions to Private Companies as per Companies Act, 2013 Exemptions to Private Companies as per Companies Act, 2013 A Private Company (PC) was entitled to various exemptions under Companies Act, 1956 (1956 Act). Companies Act, 2013 (2013 Act) has brought in

More information

CHAPTER 13 COMPLIANCE

CHAPTER 13 COMPLIANCE CHAPTER 13 COMPLIANCE By a Trading Member / Clearing Member 13.1 Annual Accounts and Audit 13.1.1 Every trading member / clearing member shall prepare annual accounts for each financial year ending on

More information

¼ããÀ ããè¾ã ¹ãÆãä ã¼ãîãä ã ããõà ãäìããä ã½ã¾ã ºããñ à Securities and Exchange Board of India

¼ããÀ ããè¾ã ¹ãÆãä ã¼ãîãä ã ããõà ãäìããä ã½ã¾ã ºããñ à Securities and Exchange Board of India CIRCULAR CIR/CFD/DIL/5/2013 Date: February 4, 2013 To The Stock Exchanges Dear Sir/Madam Sub: Scheme of Arrangement under the Companies Act, 1956 Revised requirements for the Stock Exchanges and Listed

More information

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, APRIL 5, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, APRIL 5, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, APRIL 5, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 5 th April, 2013 SECURITIES AND EXCHANGE

More information

SUPPLEMENTAL AGREEMENT BETWEEN STOCK BROKER AND CLIENT

SUPPLEMENTAL AGREEMENT BETWEEN STOCK BROKER AND CLIENT SUPPLEMENTAL AGREEMENT BETWEEN STOCK BROKER AND CLIENT THIS SUPPLEMENTAL AGREEMENT entered into on this day of 200_, to the AGREEMENTS BETWEEN STOCK BROKER AND CLIENT for Cash and Derivatives Segment of

More information

NOTICE. 1. To consider, and if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution.

NOTICE. 1. To consider, and if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution. RAMCO SYSTEMS LIMITED www.ramco.com REGISTERED OFFICE: 47 PSK NAGAR, RAJAPALAYAM 626 108 CORPORATE OFFICE: 64 SARDAR PATEL ROAD, TARAMANI, CHENNAI 600 113 NOTICE NOTICE is hereby given that an Extra Ordinary

More information

FREQUENTLY ASKED QUESTIONS ON COMPANIES ACT, 2013

FREQUENTLY ASKED QUESTIONS ON COMPANIES ACT, 2013 FREQUENTLY ASKED QUESTIONS ON COMPANIES ACT, 2013 THE INSTITUTE OF COMPANY SECRETARIES OF INDIA All rights reserved. No part of this publication may be translated or copied in any form or by any means

More information

COMBINED SCHEME INFORMATION DOCUMENT EQUITY SCHEMES OF KOTAK MAHINDRA MUTUAL FUND

COMBINED SCHEME INFORMATION DOCUMENT EQUITY SCHEMES OF KOTAK MAHINDRA MUTUAL FUND COMBINED SCHEME INFORMATION DOCUMENT EQUITY SCHEMES OF KOTAK MAHINDRA MUTUAL FUND Continuous Offer of units of all schemes available at NAV bases prices Name of Scheme Kotak Mahindra 50 Unit Scheme Type

More information

CIRCULAR. CIR/CFD/POLICYCELL/1/2015 April 13, 2015

CIRCULAR. CIR/CFD/POLICYCELL/1/2015 April 13, 2015 CIRCULAR CIR/CFD/POLICYCELL/1/2015 April 13, 2015 To All Recognised Stock Exchanges All Registered Merchant Bankers All Registrars to the Issue Dear Sir/Madam, Sub: Mechanism for acquisition of shares

More information

Liquidity Enhancement Incentive Programme for Equity Derivatives

Liquidity Enhancement Incentive Programme for Equity Derivatives Liquidity Enhancement Programme for Equity Derivatives LEIPS-Stock Options ( Effective from June 08,2015) SEBI issued Circular no.cir/mrd/dp/14/2014 dated April 23, 2014 regarding revised guidelines for

More information

Reliance Mutual Fund - R*Shares NV20 ETF (an open ended Index Exchange Traded Fund) [Rajiv Gandhi Equity Savings Scheme (RGESS) qualified scheme]

Reliance Mutual Fund - R*Shares NV20 ETF (an open ended Index Exchange Traded Fund) [Rajiv Gandhi Equity Savings Scheme (RGESS) qualified scheme] Reliance Mutual Fund - R*Shares NV20 ETF (an open ended Index Exchange Traded Fund) [Rajiv Gandhi Equity Savings Scheme (RGESS) qualified scheme] NFO Opens : 11-June-2015 NFO Closes : 12-June-2015 Offer

More information

Income Tax return (ITR) and Filing of Form 3CEB for foreign Companies

Income Tax return (ITR) and Filing of Form 3CEB for foreign Companies Income Tax return (ITR) and Filing of Form 3CEB for foreign Companies Filling of Income Tax Return (ITR) Provisions relating to filling of Income Tax Return is contained in Sec : 139 of Income tax Act.

More information