portfolio investment

Special Bench of the Income Tax Appellate Tribunal, New Delhi in the case of Cheminvest Ltd. (ITA Nos.87Del//2008, 4788/Del/2007 and 233/Ahd/ 2006) holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income. Full Article

Special Bench of the Income Tax Appellate Tribunal, New Delhi holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income. Full Article

To encourage foreign portfolio investment, the Finance Ministry has set up a working group for suggesting changes in the existing policy on foreign capital inflows by FIIs, NRIs and venture capital funds. The 16-member group on portfolio investments, to be headed by UTI MF CMD U K Sinha, will also review the current arrangements relating to participatory notes-- instruments through which unregistered foreign entities invest in Indian stock markets, sources said. Full Article

Press Note No. 7 (2009), dated 26-9-20091. Government of India had laid the guidelines for foreign investment in Commodity Exchanges vide Press Note 2(2008) dated 12th March 2008. As per the guidelines, a composite ceiling for foreign investment of 49% was allowed with prior Government approval, subject to the condition that investment under the Portfolio [...] Full Article