Sovereign Gold Bonds 2016-17 – Series IV Interest on the Bonds shall be taxable as per the provisions of the Income-tax Act, 1961. The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond
SEBI has comprehensively reviewed the existing framework in consultation with the Stock Exchanges and Depositories (inter alia, issues relating to strengthening of arbitration mechanism and investor protection mechanism).
Section 391(2) Companies Act, 2013 would apply only in case of a foreign company which has issued prospectus or IDRs pursuant to provisions of Chapter XXII of Companies Act, 2013.
Infrastructure companies in Securities Markets, namely, stock exchanges, commodity exchanges, corporations, Regulations depositories and clearing in compliance with SEBI
EBI has received representations that for existing schemes’ whose SIDs do not currently envisage investments in derivatives, obtaining positive consent from majority of unit holders as mandated above is challenging on account of vast geographical spread of unit holders and hence the request for doing away with such requirements
Thus, with respect to goods imported into a customs station in India intended for transhipment to any country outside India, the destination of goods is not a place in taxable territory in India but a country other than India if the same is mentioned in the import manifest or the import report as the case may be and the goods are transhipped in accordance with the provisions of the Customs Act, 1962 and rules made there under. Hence, with respect to such goods, services by way of transportation of goods by a vessel from a place outside India to the customs station in India are not taxable in India as the destination of such goods is a country other than India.
Factory stuffed containers are already covered under 24×7 operations, therefore, MOT charges are not required to be paid in lieu of services (like verification of seals etc) rendered by customs officers at CFSs in respect of such containers.
In order to provide more choices of investors to Indian entities issuing Rupee denominated bonds abroad, it has been decided to also permit Multilateral and Regional Financial Institutions where India is a member country, to invest in these Rupee denominated bonds.
Attention is invited to the RBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999. As per the notification, banks were advised to submit a fortnightly return on FRA/IRS to Monetary Policy Department with a copy to various RBI departments.
We advise that the Capital Small Finance Bank Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.PSBD.No.5201/16.02.001/2016-17 dated November 8, 2016, and published in the Gazette of India (Part III – Section 4) dated February 4- February 10, 2017.
