SEBI
i) SEBI Board has approved bringing out a consultation paper proposing certain changes to the SEBI (Portfolio Managers) Regulations, 1993 pursuant to introduction of Section 9A in the Income Tax Act, 1961.
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ii) SEBI notified the SEBI (Real Estate Investment Trusts) Regulations, 2014 on September 26, 2014. With a view to smoothen the process of registration of REIT with SEBI and also the process of launching of the offer, SEBI Board has approved bringing out a consultation paper proposing certain changes and providing some clarification in the REIT Regulations.
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DVAT
Department of Trade and Taxes has introduced new reward scheme for highest tax paying dealers. The department has also provided a list of dealers who shall be eligible for the rewards under the said scheme which includes dealers having the specified turnover and who have paid the highest tax during the said period. The order also provides for the eligibility criteria for the scheme. The scheme shall be implemented on the basis of recommendations received from zonal joint/additional commissioners and tax figures compiled by system branch. A reward evaluation committee shall be constituted for the purpose which shall work out the claims of the winners for reward/appreciation under the scheme. The objective of the scheme is to acknowledge the efforts of better performing dealers so as to further encourage them to continue their efforts for better tax compliance and also to set examples for other dealers.
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