« Top Headlines » Open DEMAT Account in 24 hrs  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR  ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief  ITAT Delhi Quashes Tax Notice on AMU PG Student’s ?18.34 Lakh Stipend, Declares It Tax-Free Under Section 10(16)  Advance tax deadline September 15: What happens if you missed the previous instalment payment?  How much gold jewellery can you keep at home? Nagpur ITAT explains rules on ownership, gifts, taxability  ?5.31 lakh TDS refund allowed by ITAT Delhi: Why absence of an original ITR did not block the taxpayer  Missed the ITR Filing Deadline? How to Claim Your Income Tax Refund and Correct Mistakes Before December 31, 2026  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session) «  Durable makers for lower indirect taxes... UP Vidhan Sabha passes VAT Bill... » FinMin notifies rules for foreign currency exchangeable bonds February, 19th 2008 Finance Ministry on Friday allowed companies to issue Foreign Currency Exchangeable Bonds (FCEB), with a maturity period of five years, to raise funds from the overseas market by unlocking part of the holding in group companies. "The investment under the scheme shall comply with the foreign direct investment policy as well as the External Commercial Borrowing (ECB) Policy requirements," said a Finance Ministry statement adding these bonds will have lock-in period of five years but could be exchanged into equity shares of another company before the redemption. The rate of interest on these bonds and issue expenses would be within ceiling prescribed by Reserve Bank under the ECB policy, it added. The FCEB Scheme has been announced by the government in pursuance of Finance Minister's budgetary announcement last year. FCEB would be denoted in foreign currency, and the principal and interest will also have to be paid in foreign currency. These bonds to be issued by an Indian company, will be subscribed by non-residents in foreign currency and can be exchanged into equity shares of another company- either wholly or partly. Finance Ministry said the company, which issues these bonds and the firm whose shares are exchanged against such bonds, must be part of same promoter group. The proceeds of these bonds can be invested in the group companies subject to the end use norms prescribed by the ECB policy.