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: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: cpt :: ACCOUNTING STANDARDS :: due date for vat payment :: list of goods taxed at 4%
 
 
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

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