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: VAT Audit :: form 3cd :: cpt :: list of goods taxed at 4% :: TDS :: VAT RATES :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
« News Headlines »
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax

Issue Rs 150-cr tax-free bonds in June
May, 27th 2009

The Ahmedabad Municipal Corporation (AMC) plans to come up with tax-free institutional municipal bonds worth Rs 150 crore after the new UPA government places the budget in June this year.

This is the fifth municipal bond being issued by AMC. The civic body had pioneered this method of collecting funds from members of public and corporate houses in 1998.

AMC has already the sent its proposal to Central government requesting an extension of its previous intent for tax-free bonds till March 31 next year.

Meanwhile, a strategised approach to build institutional equity in public is being carried out by AMC. The corporation has already laid bare its works in terms of bridges, water and storm water drains, institutional service deliveries.

Sensing the market trends that would see investment in infrastructure, the bonds are an attempt to create a benchmark in terms of effectiveness and efficiency.

The funds garnered through tax-free municipal bonds would be diverted to meet 35 to 50 per cent of capital costs of the developmental projects listed under JNNURM and other civic facilities. The Put and Call' option for the bond is five years, according to AMC sources.

At present, AMC finances are being monitored by credit rating agency called CARE. Last year, the ministry of urban development had permitted AMC to issue tax-free bonds worth Rs 150 crore on March 8 in 2007, but with higher interest rates prevailing in the market then, AMC had desisted from entering into the market till September later that year.

"The Union government had set a cap of less than 8 per cent for issuance of tax-free bonds. It was precisely for this reason that we kept the bonds in abeyance till now. The interest rates and inflation rates are under control and the situation seems conducive," says a senior AMC official.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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