The document provides updates on various topics including the economy, markets, and regulations. It notes that personal change is key to successful leadership and discusses large outstanding bank loans, an upcoming challenge to taxes on capital gains from stock trading, and high corporate tax dues. It also notes increased insurance inquiries after an earthquake in Nepal and regulatory changes simplifying company registration and tax filing deadlines. Market indicators are provided showing declines in indices, currency, and commodity prices and a rise in the Dow Jones average.

1. THOUGHT OF THE DAY
"One key to successful leadership is continuous personal change.
Personal change is a reflection of our inner growth and empowerment"
ECONOMIC UPDATES
 After a specially-convened meeting at the RBI headquarters, Financial
Services Secretary Hasmukh Adhia discussed 85 large projects, from the
power, steel, roads and ports sectors, with an outstanding bank credit of
Rs 3.51 lakh crore were discussed.
 Five FPIs have teamed up to challenge the applicability of MAT to capital
gains arising from trading in stocks and bonds. The FPIs plan to file a writ
petition in the Bombay High Court challenging the tax demand.
SEBI/CORPORATE UPDATES
 Corporates owed over Rs.4.85 lakh crore to the government as outstanding
dues under direct and indirect taxes towards the end of the last fiscal. IT
department has devised a scheme of action by field officers, which includes
setting targets for recovery of arrears and current demand raised, regular
monitoring of actions of the assessing officer by higher authorities.
 Insurance companies and page views have surged at websites offering
policies to cover homes and their contents. The earthquake that tore
through Nepal on April 25, reducing scores of buildings to rubble has led
to a surge in enquiries about home insurance policies in India.
 As one of the biggest reform of setting up of company in India, MCA has
announced in its webcast, the introduction of a new e-form INC-29, for
filling application for registering a company. So, now instead of filling E-
Forms DIN-3, INC-1, INC-7/2, INC-22 & DIR-12, you can only file INC-
29, it is a single form in place of 5 forms. This E-Form is scheduled to be
introduced w.e.f. 1st May, 2015.
RBI/TAX LAW UPDATES
 Vide Circular No.1001/8/2015-CX.8 dated 28th April, 2015 CBEC issues
Clarification on rebate of duty on goods cleared from DTA to SEZ.
 Vide Circular No. 3 of 2015-16, Dated: 27/04/2015 issued by
DVAT, registration process has been eased under DVAT and CST.
 Vide Circular No. 2 of 2015-16 dated 27/04/2015 issued by Delhi VAT, the
last date of filing of online/hard copy of fourth quarter return for the year
2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required
annexure/enclosures has been extended to 15/05/2015.
MARKET UPDATES
SENSEX
27,244.39 -151.66
CNX NIFTY
8,241.50 -44.10
DOLLAR/ RUPEE
63.15 -0.34
MCX SILVER
37,424.00 -103.00
MCX GOLD
27,146.00 -44.00
MCX CRUDE OIL
3,638.00 -50.00
Dow Jones Industrial
average
18,110.14 72.17
Nasdaq Composite
5,055.42 -4.82