Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT Audit :: cpt :: form 3cd :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES
 
 
News Headlines »
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

PAN norm to hit fund houses
July, 03rd 2007
Investors putting their money in mutual funds, will have to mention their permanent account numbers (PAN) or submit a proof of applying for the same along with the MF application from tomorrow, as fund houses start complying with the know your customer (KYC) norms of the Securities and Exchange Board of India (Sebi).
 
The regulator had asked the fund houses to follow the KYC norms from July 2. The norms seek mandatory disclosure of the PAN number by the investor.
 
However, last week, the Sebi allowed fund houses to accept investments from investors, who have applied for PAN, provided they attach evidence of their PAN application with their investment form.
 
This exemption is given till December 31, 2007. The Sebi has also exempted micro-pension schemes from this compliance.
 
Earlier, investors investing above Rs 50,000 had to disclose their PAN details. But, following the new KYC norms, every MF investment will require either PAN or its application proof.
 
The decision will mainly affect fund houses, which are targeting low-income investors, especially based in rural and semi urban areas, as a significant number of these investors do not have PAN.
 
Funds such as UTI, Lotus and ICICI Prudential had recently started micro-SIPs, through which investors could invest a minimum of Rs 50-100 a month in a mutual fund scheme. The fund houses have tied up with co-operative institutions, local trade bodies for attracting their members to the MF fold.
 
Even though the contribution of these investors to the overall MF corpus is very minuscule, the fund industry is finding implementation of this decision a hard task. The distributors are also worried over the decision, as the responsibility of getting the PAN compliance from investors rest on them.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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