Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ACCOUNTING STANDARD :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt
 
 
« News Headlines »
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you
 Income Tax department activates e-filing facility for all ITRs
 All the income-tax return forms for the current assessment year are available online

Companies can send only abridged reports
April, 27th 2007

In order to reduce the cost and complication of compliance for listed companies, the Securities & Exchange Board of India (Sebi) has allowed them to send only abridged annual reports containing information on the balance sheet, profit & loss account and auditors report to their shareholders.

In a circular issued on Thursday, Sebi said companies could send abridged annual reports instead of the present practice of sending a complete copy of the full balance sheet, profit & loss account and directors report. In this connection, Sebi has directed all stock exchanges to amend the relevant provisions in Clause 32 of the Equity Listing Agreement, the regulator said.

The Sebi circular comes into immediate effect.

Commenting on the development, Alpesh Shah, senior manager, Centrum Capital, a merchant banker, said, Almost 80-90% of investors do not read the annual report, which consists of more than 500 pages. So, it is not particularly useful to send the complete report to all, he added. The Sebi decision will help companies reduce the cost of compliance, he said.

However, Sebi has said that on a written request from a shareholder, it would be binding on the company to send the complete and full balance sheet, profit & loss account and auditors report.

P&L Lite
A majority of investors do not read full text of annual report
Sebi has told all SEs to amend provisions in Clause 32 of the Equity Listing Agreement
 
The Sebi direction also aims at increasing the availability of information about listed companies in the public domain like the website of the company, of the SEs and of the common filing platform jointly maintained by the Bombay Stock Exchange and the National Stock Exchange.

The other provisions of Clause 32 of the Equity Listing Agreement pertaining to turnover and income from new activities, as well as cash flow statement to be given along with the profit & loss account, shall remain unchanged.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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