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Thursday, August 01, 2013

Last Date Of Filing IT Returns Extended To August 5th
Due to an unprecedented surge in the number of returns being e-filed during this year. The IT department has extended the due date of filing of returns from 31st July, 2013 to 5th August. Incidentally, 92.03 lakh returns have been e-filed up to 30th July, 2013, which is 46.8% higher than the corresponding period of the last fiscal year. According to the finance ministry “Due to large number of taxpayers accessing e-filing website yesterday, some cases of taxpayers not being able to access the e-filing portal have been reported. These problems are primarily due to network constrains of the local internet service providers (ISPs). Therefore, as a measure of taxpayer’s convenience, it has been decided to extend the date.

UK’s Move For 3k-Pound Visa Bond A ‘Retrograde Measure’
Commerce and Industry Minister Anand Sharma yesterday said the British move for 3,000 pound visa bond from visitors of certain countries including India, would be a “retrograde measure”, a “negative step” which should not be taken. However, he said India’s High Commissioner in UK and the foreign office have not received any confirmation of any such step having being put in place or a proposal cleared by the British cabinet.

NRI/Sovereign Bonds Needed To Hold Rs 60/USD
The rupee is not likely to settle down until the Reserve Bank of India is able to recoup the forex reserves, says a Bank of America Merrill Lynch report adding the country needs to issue NRI/sovereign bonds to hold Rs 60/USD level. The rupee today breached the 61-mark again by falling 60 paise to 61.07 against the dollar in early trade at the Interbank Foreign Exchange market, on heavy month-end demand for the US currency amid growth concerns.

Fund Raising Via Preferential Allotment Hits 13 Month High
Fund-raising by issuance of shares to promoters and shareholders on preferential basis has hit a 13 months high of Rs 11,878 crore in June. According to the latest data released by the Securities and Exchange Board of India (Sebi), companies raised Rs 11,878 crore through preferential allotments in June. The June figure has reached the highest level since May 2012, when the funds had mopped-up a total of Rs 14,987 crore via preferential allotments route.

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