PGC Newsletter 18th October,2014

1. PGC NEWSLETTER 1
PGC NEWSLETTER 18th October, 2014
THOUGHT OF THE DAY “The quality of our expectations determines the quality of our action.” ECONOMIC NEWS
 Corporates are tapping the bond markets and raising funds at a cheaper rate as interest rate cycle seems to be turning.
 Finance Minister Arun Jaitley said on Friday that the tax treaty signed by the Congress government with Germany in 1995 is a stumbling block in unveiling details of black money held overseas.
SEBI/CORPORATE UPDATES
 DLF, the Delhi-based real estate major which, along with its promoter K P Singh and five other officials, was handed a three-year ban from the market by SEBI, has moved the Securities Appellate Tribunal (SAT) challenging the regulatory order.
 Group health insurance will become more expensive for companies where hospitalization claims from employees exceed the premium paid. The insurance regulator has said that it will penalize insurance companies that accept group health covers at a loss as these losses are ultimately subsidized by individual health insurance buyers.
 The government is getting down to business to boost local manufacturing and create jobs and is working on a series of measures, including revamp of the tax system for the small-scale sector, ship-building and special economic zones (SEZs).
 Battle royale brewing at FCI over equal-work-equal-pay.
 IFCI, on Friday, said it would raise up to Rs.2, 000 crore through a public issue of secured redeemable non-convertible debentures (NCDs).
RBI / TAX LAW UPDATES
 Last date of filing of the TDS/TCS Statements for the 2nd Quarter of Financial year 2014-15 for the deductors/collectors in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana extended.
 Service Tax: Various charges collected by steamer agents in respect of cargo imported or exported by their customers (pertaining to bill of lading, Delivery order, documentation, manifest, etc.) are liable to service tax from 10-9-2004 under Business Auxiliary Services.
 HC gives hearing chance to assessee against Show Cause notice alleging contravention of Sec. 269SS/269T
MARKET UPDATES SENSEX
26,108.53109.19 CNX NIFTY
7,779.7031.50 DOLLAR/ RUPEE
61.43-0.42 MCX SILVER 38,390.00-482.00 MCX GOLD 27,262.00-187.00 MCX CRUDE OIL 5,092.00-17.00 Dow Jones Industrial average 16,380.41263.17 Nasdaq Composite 4,258.4441.05
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