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: form 3cd :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: articles on VAT and GST in India :: empanelment :: TDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it

Investments by regional SEs in arm tax-exempt
September, 20th 2006
The threat of tax-exempt status of regional stock exchanges being taken away has receded. The income-tax department has now said that equity share investments of such exchanges in a subsidiary promoted by them was not violative of the investment modes prescribed in the income-tax law for continuing as a registered tax-exempt institution. Tax-exempt status A number of RSEs have tax-exempt status in view of their registration with the tax department as an approved institution under certain provision of the income-tax law. But the tax-exempt status was under threat in view of the tax provisions hitherto not recognising the equity share investments made by the RSE in a subsidiary. As part of the revival of regional stock exchanges (RSEs), the Securities and Exchange Board of India (SEBI) had in 1999 allowed stock exchanges in the country to promote subsidiaries so as to acquire membership rights of larger stock exchanges such as the National Stock Exchange (NSE) or Stock Exchange, Mumbai. Although RSEs conformed to the SEBI guidelines and made share investments in subsidiaries set up by them since 1999, the Income-Tax provisions (Section 11(5) read with rule 17C), as they stood, did not permit such investments. As the RSEs had complied with the SEBI guidelines, the Central Board of Direct Taxes (CBDT) has now brought about "convergence" between the SEBI guidelines and the income-tax rules from the period commencing from November 26, 1999. The CBDT has amended the income-tax rules, on a retrospective basis to specify that share investments made by the RSEs in a subsidiary promoted by them would qualify as an eligible investment for such exchanges to retain their tax-exempt status. There are more than 20 regional stock exchanges in the country.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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