Economy Current Affairs - 2020
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Finance Minister P.Chidambaram held that the amendments to General Anti-Avoidance Rules (GAAR), have been finalized.
GAAR, was proposed in the 2012-13 Budget in order to preventing tax evasion. But it aroused sharp reactions from foreign as well as domestic investors who feared that unchecked powers to taxmen would result in harassment of the investors. Thus, the government subsequently appointed a committee headed by tax expert ‘Parthasarthi Shome’ to look into their matter.
Tags: 2012 • Current Affairs 2012 • Economy • GAAR • November 2012
SEBI eased the the investment limit for HFCs (Housing Finance Companies) in debt mutual funds. An additional exposure not exceeding 10% of net assets of the scheme shall be allowed only to HFCs as part of financial services sector for prudential limits in debt oriented schemes.
The relaxation would be subject to certain conditions such as:
- The securities issued by HFCs are rated ‘AA’ or above
- The HFCs should have been registered with the National Housing Bank (NHB)
- The total investment in HFCs shall not exceed 30% of the net assets of the scheme
Tags: 2012 • Current Affairs 2012 • Economy • Mutual Funds • November 2012