THOUGHT OF THE DAY

“The greatest leaders mobilize others by coalescing peoplearound a shared vision…”

ECONOMIC UPDATES

Foreign direct investment (FDI) into equity jumped 48 per cent after thelaunch of the 'Make in India' programme. Total FDI includes fresh equityinflows and reinvested earnings of foreign investors. The 'Make in India'initiative was launched on September 25 last year.

The government may soon clarify tax rules making it easier for fundmanagers operating large India-dedicated funds to set up an office in thecountry, four months after. The clarifications are expected to govern thenumber of investors in a fund.

SEBI/CORPORATE UPDATES

Vide SEZ Notification No. D.12/25/2012 dated June 30, 2015 notifiedregarding digitization of applications/permissions by SEZunits/developers (Phase-II).

Vide DGFT Public Notice No. 27 /2015-2020 notified MerchandiseExports from India Scheme (MEIS)—Additions/amendments in Table 1(containing list of country groups) and Table 2 [containing ITC (HS) codewise list of products with reward rates] of Appendix 3B.

RBI/TAX LAW UPDATES

Vide CBDT Notification 01/2015 dated 10.07.2015 notified that The datefor filing ITR-V for returns e-Filed for A.Y 2013-14 (filed on or after 1stApril 2014 till 31st March 2015) and for A.Y 2014-15 (filed on or after 1stApril 2014 till 30th June 2015) extended till 31st October 2015.

Vide Notification No. 33/2015-Customs (ADD) dated July 13, 2015notified in the matter of continuation of anti-dumping duty on “GlassFibre and articles thereof” Extension of validity of for a further period ofone year i.e. upto and inclusive of the 13th July, 2016.

Vide CBDT F.No. DGIT(S)/DIT(S)-3/AST/Manual dated July 15, 2015imposed restriction on Issuance of Manual Refunds by Assessing Officers.

Government clarifies that Service Charges Collected by Restaurants/Hotels/Eateries Retained by the Restaurants/Hotels/Eateries and are Not‘Service Tax’ Imposed by the Government.

MARKET UPDATES

SENSEX28,170.09 241.71

CNX NIFTY8,518.60 64.50

DOLLAR/ RUPEE63.37 -0.02

MCX SILVER35,185.00 13.00

MCX GOLD25,910.00 -17.00

MCX CRUDE OIL3,386.00 39.00

Dow Jones Industrialaverage18,053.58 75.90

Nasdaq Composite5,104.89 33.38

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