The newsletter provides updates on economics, corporate law, taxes, and financial markets. It notes that a fall in India's current account deficit limited risks from global volatility according to Moody's, while several groups are seeking to purchase shares in the MCX commodity exchange. The newsletter also indicates that certain sections of the new Companies Act will take effect on April 1, and that some bank branches and RBI offices will have extended hours on March 29 and 31 to help tax payers.

1. PGC NEWSLETTER27th March 2014 1
PGC
NEWSLETTER
27th March 2014
THOUGHT OF THE DAY
““Rise and rise again until lambs become
lions” ”
ECONOMICS NEWS
• A fall in the high current account deficit limited vulnerability to global
financial market volatility, but elevated inflation still posed risks, said
rating agency Moodys.
• The US-based CME Group, one of the world’s largest futures and
options exchanges; Deutsche Borse, operator of Frankfurt Stock
Exchange; R-ADA Group; BSE; and Kotak have lined up to purchase
Financial Technologies’ (India) (FTIL) stake in commodity bourse
MCX.
CORPORATE LAW UPDATES
• MCA stopped payment through NEFT, Pay Later & Challan till 31st
March, 2014.
• MCA has issued the notifications dated 26 March 2014 containing the
list of Sections of Companies Act, 2013 which will going to be in force
from 01 April 2014.
RBI / TAX LAW UPDATE
• RBI: With a view to providing greater convenience to tax payers, it has
been decided that all designated branches of agency banks and RBI
Offices conducting government business will keep their counters open
for extended hours on Saturday, March 29, and Monday, March 31,
2014 till 8.00 p.m.
• IT : Where assessee had submitted revised return within prescribed
period of limitation as provided under section 139(5) claiming
credit/refund of TDS, which was not made in original return, assessee
was entitled to credit of TDS.
MARKET UPDATES
SENSEX
22,192.74 97.44
CNX NIFTY
6,633.70 32.30
DOLLAR/ RUPEE
60.19 0.04
MCX SILVER
42885.00 -0.37
MCX GOLD
28,424.0 -147.0
MCX CRUDE OIL
6063.00 0.38
Dow Jones Industrial
Average
16,268.99 -98.89
Nasdaq Composite
4173.58 -60.69