1. PGC NEWSLETTER 1
PGC
NEWSLETTER
13th
February,2015
THOUGHT OF THE DAY
"Sometimes the best discoveries are the result of simple observations"
SEBI/CORPORATE UPDATES
FICCI-PRE-BUDGET-MEMORANDUM-2015-16 dated February 12, 2015
welcome India's growth prospects in 2014-15 compared to the situation in
the previous two fiscal years - 4.5% in 2012-13 and 4.7% in 2013-14.
Finance minister is likely to announce an ambitious Rs 45,000 crore
disinvestment programme for the year starting April 1 when he presents
the Budget in parliament on February 28. Enable to allow him to keep the
fiscal deficit on a tight leash while finding the money needed for a public
spending push.
General Circular No. 02/2015 No. 1/40/2013-CL-V- Part dated 11-2-2015
issued by Ministry of Corporate Affairs, the last date of filing of Form CRA-
2 without any penalty/late fee is extended upto 31st March, 2015.
RBI/TAX LAW UPDATES
The income tax department has shifted its focus from civil consequences to
criminal consequences in serious cases of tax evasion. During 2014-15
(upto Dec, 2014) the ITD Has Conducted Searches in 414 Groups, Seized
Undisclosed Assets of Rs. 582 Crore.
Vide circular No 3/2015 dated 12th February,2015 issued by CBDT,
clarifications regarding ‘Amounts not deductible’ under sub clause (i)of
clause (a) of Section 40 of Income Tax Act,1961.
Vide RBI Notification ref RBI//2014-15/468A.P (DIR Series) Circular
No.77 dated February 12, 2015 the Reserve Bank of India, under the aegis
of the e-Biz project of the Government of India has enabled the filing of
Advance Remittance Form (ARF) and FCGPR Form which a company
submits to RBI for reporting the issue of eligible instruments.
Vide RBI Notification ref RBI/2014-15/467A. P. (DIR Series) Circular
No.76 dated February 12, 2015 notified the requirement of submitting
request in Form A-1 to the AD Category –I Banks for making payments
towards imports into India.
Circular No.07/2015-Customs F. No. 450/77/2010- Cus IV Dated 12-2-
2015 issued by CBDT regarding List of documents required for KYC
verification by Authorised Couriers.
MARKET UPDATES
SENSEX
28,989.78 184.68
CNX NIFTY
8,772.40 60.85
DOLLAR/ RUPEE
62.12 -0.19.
MCX SILVER
37,581.00 356.00
MCX GOLD
26,667.00 148.00
MCX CRUDE OIL
3,224.00 54.00
Dow Jones Industrial
average
17,972.38 110.24
Nasdaq Composite
4,857.61 56.43
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