Newsletter 20th October,2014

1. PGC NEWSLETTER 1
PGC NEWSLETTER 20th October, 2014
THOUGHT OF THE DAY “Hardships often prepare Ordinary people for an extra ordinary destiny.” ECONOMIC NEWS
 Rs 1,381 crore of tax exemption to 13 major political parties of the country in two years:RTI.
 Sensex up over 300 points on poll outcome, fuel reforms
SEBI/CORPORATE UPDATES
 The statute books have been amended to deduct tax at source on some insurance payouts, which could particularly affect people above 45 and those with single-premium policies.
 Government to re-impose gold import curbs to check trade deficit.
 Jindal Steel & Power Ltd plunged as much as 13.2 per cent in trade on Monday, after the CBI registered a fresh case of alleged cheating and corruption against Jindal Steel and Power Limited among others in connection with its probe into coal blocks allocation probe.
 NO WINDING-UP PETITION AGAINST A CO. FOR NON-RECOVERY OF DEBT DUE TO ITS ILLEGAL STATUS.
RBI / TAX LAW UPDATES
 Deductors who have a TAN Number but have not filed the TDS statement as they did not deduct any tax during the relevant tax period were not liable to deduct any tax during the relevant quarter can file a NIL Declaration.
 The Himachal Pradesh high court has rules that NO INCOME TAX IS PAYABLE ON CLAIM AMOUNT AND INTEREST ON THE DEPOSITS made under the orders of the court in MOTOR ACCIDENT CLAIMS CASES.
HISTORICAL EVENTS In 1962, Musical "Mr. President" opens at St James Theater New York for 265 performances
MARKET UPDATES SENSEX
26,485.67377.14 CNX NIFTY
7,896.10116.40 DOLLAR/ RUPEE
61.26-0.19 MCX SILVER 38,475.0076.00 MCX GOLD 27,261.005.00 MCX CRUDE OIL 5,089.004.00 Dow Jones Industrial average 16,380.41263.17 Nasdaq Composite 4,258.4441.05
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