Press Releases

Guidelines for Foreign investment in Commodity Exchanges

Press Note No. 7 (2009) (26/09/2009)

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 Investment Scheme will be...

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SEBI decision on Transparency in payment of commission to Mutual Fund distributors

PR No.192/2009 (18/07/2009)

An unlisted company making an IPO shall list the securities on at least one stock exchange having nationwide trading terminals. This would provide a liquid trading platform to investors in securities of the company. ...

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New TDS Rules related to mentioning of Unique Transaction Number(UTN) in ITR kept in abeyance

PRESS RELEASE (30/06/2009)

The CBDT has finally come out with a much awaited Press Release relating to the new TDS rules. All of us were anxiously waiting for some news about the Unique Transaction Numbers that are required to be generated with effect from 1st July, 2009....

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Clarificatory guidelines on downstream investment by Indian Companies.

12(22)/2007-FC (25/02/2009)

The Guidelines for calculation of total foreign investment, both direct and indirect in an Indian company, at every stage of investment, including downstream investment, have been detailed in Press Note 2 of 2009 which enables determination of total foreign investment in any/all Indian Companies....

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Foreign investment in Print Media dealing with news and current affairs

Press Note No. 1 (2009) (14/02/2009)

Publication of facsimile edition of foreign newspaper would also be subject to the Guidelines for publication of newspapers and periodicals dealing with news and current affairs and publication of facsimile edition of foreign newspapers issued by Ministry of Information & Broadcasting on 31.3.2006, as amended from time to time....

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Guidelines for transfer of ownership or control of Indian companies in sectors with caps from resident Indian citizens to non-resident entities

Press Note No 3 (2009 Series) (13/02/2009)

It is clarified that these guidelines will not apply for sectors/activities where there are no foreign investment caps, that is, 100% foreign investment is permitted under the automatic route....

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Guidelines for calculation of total foreign investment i.e. direct and indirect foreign investment in Indian companies.

Press Note No 2 (2009 Series) (13/02/2009)

Provided that, in case of a combination of all or any of the entities mentioned in Sub-Clauses (i) and (ii) of clause 5.5.4.1 above, each of the parties shall have entered into a legally binding agreement to act as a single unit in managing the matters of the applicant company....

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Guidelines for transfer of ownership or control of Indian companies in sectors with caps from resident Indian citizens to non-resident entities.

Press Note No. 3 (2009 Series) (13/02/2009)

These guidelines will issue in modification of paragraph 2(e) of Press Note 4 of 2006 and will be effective from the date of issue of this Press Note. FDI policy announced vide Annex to Press Note 7(2008) dated 16th June 2008 stands amplified to the above extent....

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Extension of Due Date of Payment of The First and Second Installment of Advance FBT on ESOPS

EXTENSION OF DUE DATE OF PAYMENT OF THE FIRST AND SECOND INSTALLMENT OF ADVANCE FBT ON ESOPS (12/09/2007)

By virtue of the provision of clause (d) of sub-section (1) section 115 WB, introduced by Finance Act, 2007, an employer is liable to pay Fringe Benefit Tax on any consideration for employment provided by way of any specified security or sweat equity shares allotted or transferred, directly or indirectly, by such employer free of cost or ...

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Budget 2007- Analysis of Changes in Service Tax

334/1/2007-TRU. (28/02/2007)

Letter F. No. 334/1/2007- TRU dated 28-02-2007- The threshold limit of service tax exemption for small service providers is being increased from the present level of Rs.4 lakhs to Rs.8 lakhs with effect from 01.04.2007, by amending notification No.6/2005-Service Tax, dated 01.03.05 vide notification No. 4/2007-Service Tax, dated 01.03.07....

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