« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  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.