sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018
 Last-minute tax tips for late filers
 What demonetisation did to tax collections

Trusts Act likely to be amended
December, 25th 2007
To facilitate investment in shares


The amendment Bill is likely to be introduced in the budget session of Parliament


The Centre is likely to soon facilitate certain trusts to park funds in shares as well as private sector debt instruments with investment grade rating from credit rating agencies.

The Union Cabinet today gave its nod for amending the Indian Trusts Act 1882 to enable the Government to notify a class of securities as eligible for investments by trusts.

The amendment Bill is likely to be introduced in the budget session of Parliament.

Official sources said the Cabinet decision would cover those trusts whose trust deeds do not expressly specify the pattern of investments that should be adopted till the funds are used for the ultimate purpose for which these vehicles were created.

For such trusts, the Centre is likely to specify that the investment pattern spelt out (in January 2005) for non-government provident funds /superannuation funds / gratuity funds could be adopted.

The Cabinet move to approve amendments to the Indian Trust Act comes in the wake of recommendations made by the Law Commission of India.

Already, the Government is looking at allowing non-government provident funds as well as superannuation and gratuity funds to have greater exposure to the stock markets.

It now proposes to revise their investment pattern set down in January 2005 and enhance the existing investment limits. It also proposes to make eligible new instruments where these funds could be invested.

They could in the coming days look at investing in shares of companies figuring in the BSE Sensex and NSE Nifty and in equity-linked schemes of mutual funds regulated by the Securities and Exchange Board of India.

Meanwhile, official sources said the Finance Ministry has received responses on all the proposed changes in investment pattern and was awaiting final nod of the Finance Minister for these changes.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions