CA Results Analysis-May 2011

Result-Chartered Accountant Final Examination held in May, 2011 & CPT(Paper Pencil Mode) held on June 19, 2011

PRESS RELEASE July 19, 2011 The Institute of Chartered Accountants of India (ICAI) today announced the following results Chartered Accountants Final Examination held in May, 2011. Common Proficiency Test (Paper Pencil Mode) held on June 19, 2011. Since December1949, the Chartered Accountancy Examination is held twice in a year. The toppers of Chartered Accountants Final Examinations held in May, 2011 are from Bikaner, Mumbai and Pune. The details of the top three rank holders on all India basis for Chartered Accountants Final along with the marks secured by them are mentioned at Annexure-A. The result analysis of the Final examination in terms of gender wise and region wise pass percentage is mentioned at Annexure-B. The toppers of Common Proficiency Test (Paper-Pencil Mode) held on 19th June, 2011 are from Tirupathi, Pune, Hyderabad, Guntur (Andhra Pradesh), Mumbai & Amritsar (Punjab). The details of the Top three rank holders for Common Proficiency Test (Paper Pencil Mode) along with the marks secured by them are mentioned at Annexure- C-1, 2 & 3. The result analysis of the CPT examination in terms of region wise and gender wise pass percentage is mentioned at Annexure-D. Annexure-A Annexure-B Annexure-C-1 Annexure-C-2 Annexure-C-3 Annexure-D

New ER1 & ER 3 Forms

Find enclosed new notification from CBEC.

The Central Board of Excise and Customs has notified new Form ER-1 and Form ER-3. Form ER-1 is the monthly return for production and removal of goods and other relevant particulars and CENVAT credit. Form ER-3 is the quarterly return for production and removal of goods and other relevant particulars and CENVAT credit, by an assessee eligible to avail of the exemption under a notification based on the value of clearances in a financial year.

The new forms would be effective from 1st October, 2011

TDS Defaults (Notice) information in TIN Website (TAN Login)

ITD has started processing of TDS returns for 2010-11 (u/s 200A) and earlier years (u/s 201)

All 'defaults' information, those processed after 01-04-2011, are now made available at www.tin-nsdl.com. (TAN registration login)

The defaults will be raised as & when processed and will be kept updated in this area. It will be in a Zipped Excel sheet (no password) and quarter wise separate files will be available. (for which defaults are identified)

Deductors may also receive physical/email notices from local offices shortly.

So, the TAN registration login will cover below features now:

1. Consolidated TDS file download and request tracking
   
2. Form 16A data download and utility
   
3. Form 15CA Submission
   
4. Defaults information (Mistakes/Inconsistencies)
   
5. Profile update

Consulting Engineers-ST-Receipt Basis

CONSULTING ENGINEERS TO PAY TAX ON RECEIPT OF PAYMENT-POINT OF TAXATION RULES AMENDED

Circular No. 144/13/ 2011 – ST

F.No.354/93/2011-TRU

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

Tax Research Unit

North Block, New Delhi

18^th July, 2011

To

Chief Commissioners of Central Excise and Service Tax (All),

Director General (Service Tax),

Director General (Central Excise Intelligence),

Director General (Audit),

Commissioners of Service Tax (All),

Commissioners of Central Excise and Service Tax (All).

Madam/Sir,

Subject: - Clarification on "Completion of service"- regarding.

Representations requesting clarification on "completion of service" as provided under the Point of Taxation Rules, 2011 and Service Tax Rules, 1994 have been received from certain sections of service providers that in many situations it is not possible to issue invoices within 14 days of the completion of the service since the exact date of completion of service is difficult to identify. Instances have been given where after the task of providing the service may be physically accomplished, but certain other formalities are required to be completed from the client's end before an invoice can be issued.

2. These representations have been examined. The Service Tax Rules, 1994 require that invoice should be issued within a period of 14 days from the completion of the taxable service. The invoice needs to indicate interalia the value of service so completed. Thus it is important to identify the service so completed. This would include not only the physical part of providing the service but also the completion of all other auxiliary activities that enable the service provider to be in a position to issue the invoice. Such auxiliary activities could include activities like measurement, quality testing etc which may be essential pre-requisites for identification of completion of service. The test for the determination whether a service has been completed would be the completion of all the related activities that place the service provider in a situation to be able to issue an invoice. However such activities do not include flimsy or irrelevant grounds for delay in issuance of invoice.

The above interpretation also applies to determination of the date of completion of provision of service in case of "continuous supply of service".

3. Trade Notice/Public Notice may be issued to the field formations accordingly.

4. Please acknowledge the receipt of this circular. Hindi version to follow.

(Samar Nanda)

Under Secretary, TRU

Government of India

Ministry of Finance

(Department of Revenue)

New Delhi, the 27^th June, 2011

Notification No. 41/2011 – Service Tax

G.S.R. (E).- In exercise of the powers conferred by clause (a) and clause (hhh) of sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following rules further to amend the Point of Taxation Rules, 2011, namely:-

1. (1) These rules may be called the Point of Taxation (Second Amendment) Rules, 2011.

(2) They shall come into force on the 1^st day of July, 2011.

2. In the Point of Taxation Rules, 2011, in Rule 7, in sub-rule (c),-

before the bracket and letter "(p)", the bracket and letter "(g)" shall be inserted,

[F. No. 334/3/2011-TRU]

(Samar Nanda)

Under Secretary to the Government of India

Note.- The principal rules were notified vide notification no. 18/2011-Service Tax, dated the 1^st March, 2011, published in the Gazette of India, Extraordinary vide Number G.S.R. 175(E), dated the 1^stMarch, 2011 and last amended vide notification No.25/2011-Service Tax, dated the 31^st March, 2011, published on the Gazette of India vide Number G.S.R. 283(E), dated the 31^st March, 2011.

FAQ ON EXEMPTION FROM FILING OF INCOME-TAX RETURN

EXEMPTION FROM FILING OF INCOME-TAX RETURN

CBDT's FAQs

1. What is the purpose of this notification and who are proposed to be exempted from the requirement of filing of the return?

The primary objective of this notification is to exempt those salaried taxpayers from the requirement of filing income-tax returns, who have (i) total income not exceeding Rs. 5,00,000, and (ii) the total income consists only of income chargeable to income-tax under the head 'Salaries' and interest income from savings bank account if such interest income does not exceed Rs. 10,000.

Further, such salaried taxpayer would be eligible for exemption from filing a return of income only if tax liability has been discharged by the employer by way of Tax Deducted at Source (TDS) and the deposit of the same to the credit of the Central Government. For this purpose, taxpayer has to intimate his interest income to the employer during the course of the year.

For Example -

(i) If an individual has salary income of Rs. 4,90,000 and interest income from savings bank account not exceeding Rs.10,000 (which has been reported to the employer and tax has been deducted thereon), then the taxpayer would be exempt from the requirement of filing income-tax returns since the total income from both the above sources does not exceed five lakh rupees.

(ii) A taxpayer having salary income of Rs. 4,98,000 and interest income from savings bank account of Rs. 2,000 (which has been reported to the employer and tax has been deducted thereon), would also be eligible under this Scheme.

(iii) A taxpayer having salary income up to Rs. 5,00,000 and nil interest income would also be eligible under this Scheme.

(iv) A taxpayer having salary income of Rs.5,50,000, interest income from savings bank account of Rs. 8,000(which has been reported to the employer and tax has been deducted thereon), and who has claimed deduction of Rs. 70,000 under section 80C (on account of certain payments/investments/savings) would also be eligible under the Scheme.

(v) A taxpayer having salary income of Rs. 6,10,000, interest income from savings bank account of Rs. 10,000 (which has been reported to the employer and tax has been deducted thereon), and who has claimed deduction of Rs. 1,00,000 under section 80C (on account of certain payments/investments/savings), a deduction of Rs. 20,000 under 80CCF (Infrastructure Bonds) and a further deduction of Rs. 15,000 under section 80D (Health Insurance Premium) would also be eligible under the Scheme.

2. Whether a salaried taxpayer having total income of less than Rs. 5,00,000 and claiming a refund of Rs. 3,000 would be eligible under this Scheme

No. The taxpayer has to file a return of income for making a claim of refund.

3. Is having a valid PAN a precondition for being covered by the notification?

Yes. The notification clearly specifies that the individual has to report his PAN to the employer. Hence having a valid PAN is a precondition for falling within the ambit of the notification.

4. Can an individual who is getting income under the head "salaries" from more than one employer take benefit of the notification?

No. A salaried taxpayer who has earned income from more than one employer during the financial year is not covered under this Scheme.

5. Whether this notification would also cover taxpayers having 'loss from house property', which are often reported by the employees to the employer.

No. Under the existing procedure, DDO/employer can give credit to the employee for a claim for loss under the head "income from house property" under section 24 made by the employee. As a result, a salaried employee's total income may reduce to less than Rs. 5,00,000 as loss from the head "income from house property" would have been set-off against salary income. Such a taxpayer is not exempted from filing his return of income as the notification exempts only cases where the total income is under the head "salary" and from savings bank account (income from other sources) not in excess of Rs. 10,000. If the taxpayer has any loss under the head "income from house property", he will not be eligible for exemption from filing a return of income.

6. Does savings bank account include other banking accounts like fixed deposits or recurring deposits accounts?

No. The benefit of the notification is available to taxpayers whose interest income comprises of interest earned on savings bank account ONLY.

7. Circular No. 8/2010, dated 13-12-2010 which is applicable for Assessment Year 2011-12 stipulates that the Drawing and Disbursing Officer (DDO)/Employer while deducting TDS from salary of an employee cannot allow deduction u/s 80G except donations made to the Prime Minister's Relief Fund, the Chief Minister's Relief Fund or the Lt. Governor's Relief Fund. Whether the notification would cover only these cases?

Yes. An individual cannot avail the exemption under this notification if the claim of deduction for donations under section 80G is for donations other than those mentioned in Circular No. 8/2010. A taxpayer has to file a return of income for making a claim in respect of claim of deduction under section 80G for such donations (not specified in Circular No. 8/2010).

8. Will a salaried individual having agricultural income, which is exempt from tax, be covered within the ambit of the notification?

A salaried individual with agricultural income exceeding five thousand rupees shall be out of the ambit of the notification. A return will have to be filed in such a case, even if other conditions of the notification are satisfied as the agricultural income (of more than Rs. 5,000) has to be included, for rate purposes, in the total income.

EXEMPTION TO SPECIFIED PERSONS FROM REQUIREMENT OF FURNISHING A RETURN OF INCOME UNDER SECTION 139(1) FOR ASSESSMENT YEAR 2011-12

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)]/ S.O. 1439 (E), DATED 23-6-2011

In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2011-12, namely :—

Class of Persons

1. An Individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,—

(A) "Salaries";

(B) "Income from other sources", by way of interest from a savings account in a bank, not exceeding ten thousand rupees.

Conditions

2. The individual referred to in para 1,—

( i ) has reported to his employer his Permanent Account Number (PAN);

( ii ) has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;

ii) has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

( iv) has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

(v) has no claim of refund of taxes due to him for the income of the assessment year; and

( vi ) has received salary from only one employer for the assessment year.

3. The exemption from the requirement of furnishing a return of income-tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.

4. This notification shall come into force from the date of its publication in the Official Gazette.

CA Final (May 2011) and CPT (June 2011) results announced

See the link for results:

http://www.caresults.nic.in/

Amendment to Rule 114B of IT Act-wef 01-07-2011

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AMENDMENT IN RULE 114B OF THE INCOME-TAX RULES, 1962

Income-tax (Fifth Amendment) Rules, 2011 - Amendment in rule 114B

NOTIFICATION NO. 27/2011 [F. NO. 149/122/2010-SO(TPL)], DATED 26-5-2011

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—

1. (1) These rules may be called the Income-tax (Fifth Amendment) Rules, 2011.

(2) They shall come into force on the 1st day of July, 2011.

. In the Income-tax Rules, 1962, in rule 114B,—

(i) in the Explanation (a), in clause (k), for the words "tour operator" the words "tour operator, or to an authorized person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999)" shall be substituted.

(ii) in clause (l) for the words "for issue of a credit card" the words "for issue of a credit or debit card" shall be substituted.

(iii) after clause (p) and before the first proviso, the following clauses shall be inserted, namely :—

"(q) payment of an amount aggregating fifty thousand rupees or more in a year as life insurance premium to an insurer as defined in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938);

(r) payment to a dealer,—

(i) of an amount of five lakh rupees or more at any one time; or

(ii) against a bill for an amount of five lakh rupees or more,

for purchase of bullion or jewellery;".

Synchronisation of DPIN with DIN

Limited Liability Partnership Rules, 2009 (Amendment) Rules, 2011

Ministry of Corporate Affairs vide its Notification dated 05.07.2011 has come out with the Limited Liability Partnership Rules, 2009 (Amendment) Rules, 2011. The notification stands effective with effect from July 9, 2011

A brief of the substituted provisions for Rule 2, sub rule (1), para (iv) and Rule 10 has been specified below

(i)Designated Partner Identification Number" (DPIN) means an identification number which the Central Government may allot to any individual, intending to be appointed as designated partner of a limited liability partnership (LLP)and shall also include Directors Identification Number issued under Section 266A, 266B and 266E of the Companies Act, 1956 and rules made thereunder.

(ii)Individual intending to be appointed as designated partner of LLP would be required to make an application under Form DIN 1 in order to obtain DPIN

(iii)In case, person is holding DIN and DPIN both, DPIN shall stand cancelled and DIN would suffice the purpose of being appointed as Designated Partner

(iv)Consent to become Designated partner shall be made in Form 9 and an intimation to be made about such DPIN to registrar in Form 4

(v)Every Designated Partner shall intimate any change in the particulars of DIN 1 in form DIN 4 within  30 days of such changes

(vi)Form 7 (Application for allotment of DPIN) and Form 10 (Intimation of changes in particulars by Designated Partners) shall stand deleted.

In light of above, while efforts have been made to synchronize the DPIN with DIN and it has been clarified that with respect to person holding both DPIN and DIN, the DIN shall become effective and future applications for obtaining DPIN needs to be filed in DIN Form, however, ambiguities still remain on the fact whether the person holding just DPIN would be required file fresh application for allotment of DIN. It seems that such with reference to such person, once they apply for DIN, their DPIN would automatically stand cancelled.

In tune to effect the above said amendment, the Ministry of Corporate Affairs vide its Notification dated 05.07.2011 has accordingly amended the Companies (Director Identification Number) Rules, 2006, which stands effective with effect from July 9, 2011.

A brief of the substituted provisions for Rule 2, sub rule (ii) has been specified below

(i)"Director Identification Number" (DIN) means an identification number which the Central Government may allot to any individual, intending to be appointed as Director or to any existing directors of a company and shall also include Designated Partnership Identification Number (DPIN) issued under Section 7 of the Limited Liability Partnership Act, 2008 and rules made thereunder.

Revised versions of Form DIN 1 and DIN 4 shall substitute the old forms.

IndianCAs: ITR 4 & 5- DSC - ER 8 [1 Attachment]

INCOME-TAX (SIXTH AMENDMENT) RULES, 2011 - AMENDMENT IN RULE 12

NOTIFICATION NO. 37/2011 [F. NO. 149/68/2011-SO (TPL)], DATED 1-7-2011

In exercise of the powers conferred by section 295, read with section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—

1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2011.

(2) They shall come into force from the date of its publication in the Official Gazette.

2. In the Income-tax Rules, 1962 in rule 12, in sub-rule (3), in the proviso, for clauses (a) and (aa) the following clause shall be substituted, namely :—

"(a) a firm required to furnish the return in Form ITR-5 or an individual or Hindu Undivided Family (HUF) required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable, shall furnish the return for assessment year 2011-12 and subsequent assessment years in the manner specified in clause (ii);"

1 of 1 File(s)

ITR 4 & 5-DSC - ER 8.pdf

IndianCAs: Happy CA Day!!

My Dear CA friends,

My best wishes on 1st July, being a CA Day!!

I wish you a wonderful year ahead as a chartered accountant,

with prosperity & success in professional life

and fulfillment & happiness in perosnal life!!

Let's celebrate the birthday of this greatest profession!!

Ashwin Nagar FCA and SAP-Finance & Consolidations

Success is not permanent and failure is not final

Facebook : http://www.facebook.com/ashwinnagar

Twitter : http://twitter.com/ashwinnagar

Orkut : http://www.orkut.co.in/Main#Profile?uid=18246210461112749074

Linkedin : http://in.linkedin.com/in/ashwinnagar

IndianCAs: CHARLES SCHULTZ PHILOSOPHY

Charles Schultz Philosophy

The following is the philosophy of Charles Schultz, the creator of the 'Peanuts' comic strip. Try Answer the questions, read the e-mail straight through, and you'll get the point. 1. Name the five wealthiest people in the world. 2. Name the last five Heisman trophy winners. 3. Name the last five winners of the Miss America. 4. Name ten people who have won the Nobel or Pulitzer Prize. 5. Name the last half dozen Academy Award winners for best actor and actress. 6. Name the last decade's worth of World Series winners. How did you do? The point is, none of us remember the headliners of yesterday. These are no second-rate achievers. They are the best in their fields. But the applause dies. Awards tarnish. Achievements are forgotten. Accolades and certificates are buried with their owners ... Here's another quiz. See how you do on this one: 1. List a few teachers who aided your journey through school. 2. Name three friends who have helped you through a difficult time. 3. Name five people who have taught you something worthwhile. 4. Think of a few people who have made you feel appreciated and special. 5. Think of five people you enjoy spending time with . Easier? The lesson: The people who make a difference in your life are not the ones with the most credentials, the most money, or the most awards. They are the ones that care. Pass this on to those people who have made a difference in your life. 'Don't worry about the world coming to an end today. It's already tomorrow in Australia (Charles Schultz) Aren't Friends and Family Great!!!!!!!!! ever so grateful to have a great group of friends love & regards

Cost Inflation Index for F.Y. 2011-12 is 785

NOTIFICATION NO. 35/2011 [F. NO. 142/5/2011-TPL], DATED 23-06-2011 

 

In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes number S.O. 709(E), dated the 20th August, 1998, namely :—

In the said notification in the Table, after serial number 30 and the entries relating thereto, the following serial number and entries shall be inserted, namely :—]

 

"31

2011-12

785"

IndianCAs: Salary upto 5 lacs, no need to file return.............

 

 

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)], DATED 23-6-2011

In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2011-12, namely :—

 

Class of Persons

1. An Individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,—

 (A)  "Salaries";

 (B)  "Income from other sources", by way of interest from a savings account in a bank, not exceeding ten thousand rupees.

 

Conditions

2. The individual referred to in para 1,—

  (i)  has reported to his employer his Permanent Account Number (PAN);

 (ii)  has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;

(iii)  has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

(iv)  has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

 (v)  has no claim of refund of taxes due to him for the income of the assessment year; and

(vi)  has received salary from only one employer for the assessment year.

3. The exemption from the requirement of furnishing a return of income-tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.

4. This notification shall come into force from the date of its publication in the Official Gazette.

| Ashwin Nagar | FCA and SAP-Finance & Consolidations |

Success is not permanent and failure is not final

 

Facebook : http://www.facebook.com/ashwinnagar

Twitter      : http://twitter.com/ashwinnagar

Orkut        : http://www.orkut.co.in/Main#Profile?uid=18246210461112749074

Linkedin    : http://in.linkedin.com/in/ashwinnagar

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Amendment to Section 10(23AAA) of Income-tax Act

NOTIFICATION NO

33/2011, Dated: June 3, 2011

S.O.1295(E) In exercise of the powers conferred by clause (23AAA) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of Government of India, Ministry of Finance, number S.O. 672(E) dated the 27th July, 1995, namely:-

In the said notification, in paragraph (1), after clause (c), the following clause shall be inserted, namely:-

(d) to meet the cost of annual medical tests or medical checkups of the member, his spouse and dependent children.

F.No.197/12/2010-ITA-I

(Raman Chopra)
Director (ITA-I)

CHANGE OF NAME BY LISTED COMPANIES

CHANGE OF NAME BY LISTED COMPANIES

CIRCULAR NO. MRD/DP/07/2011, DATED 16-6-2011

1. Please refer to SEBI Circulars No. SMDRP/Policy/Cir.-8/99, dated April 26, 1999 and No. SEBI/MRD/Policy/AT/Cir.-20/2004, dated April 30, 2004 on the captioned subject-matter.

2. The aforementioned SEBI Circular, dated April 30, 2004 required all listed companies seeking change of name to comply inter alia with the following provision:

2.2. At least 50 per cent of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name.

3. It is observed from the representations received from few companies and feedback received from the Stock Exchanges that the companies, where the gestation period of the business is usually longer and the revenue stream often delayed, find it difficult to comply with the aforesaid provision.

4. In view of the above, it is decided to modify the para 2.2 of the aforementioned circular as under:

2.2. At least 50 per cent of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name

Or

The amount invested in the new activity/project (Fixed Assets + Advances + Works-in-Progress) is atleast 50 per cent of the assets of the company. The 'Advances' shall include only those extended to contractors and suppliers towards execution of project, specific to new activity as reflected in the new name.

To confirm the compliance of the aforesaid provision 2.2, the company shall submit auditor's certificate to the exchange.

5. All the Stock Exchanges are advised to:-

5.1 implement the above by making necessary amendments to the bye-laws and Listing Agreement, as applicable;

5.2 to bring the provisions of this circular to the notice of the listed companies and member brokers/ clearing members and also to put up the same on the website for easy access to the investors; and

5.3 communicate to SEBI the status of the implementation of the provisions of this circular and the action taken in this regard in the Monthly Development Report.

6. This circular is being issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

This circular is available on SEBI website at www.sebi.gov.in.

--
Best Wishes

CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
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Nellore-524 003
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India
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