How Mr. Saurabh Mukherjea of Marcellus invests his money
MF's Buying / Selling in Mar 2022
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SEBI norms for underwriting by mutual funds |
SEBI norms for underwriting by mutual funds
Domestic mutual funds have now been permitted by the SEBI to enter into underwriting arrangements. The move is aimed at expanding the investment scope of mutual funds. Under the new norms evolved by SEBI for this, it has been stipulated that the total underwriting obligations of a mutual fund at any time should not exceed the total value of the corpus of any scheme together with the undistributed profits lying to the credit of that scheme. SEBI has also made it clear to the mutual funds that the decision to take up any underwriting commitment should be made on the same lines as investment under a particular scheme.
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FM's solution to fiscal deficit: Earn now, spend next year
Among the finance ministry's efforts to contain the fiscal deficit this year, it appears, is some financial jugglery. Much of the additional expenditure is being rolled over to next financial year, while the tax and dividend income to accrue next year is being brought forward into this year's books. The aim is to ensure the fiscal deficit 'red line' drawn by Finance Minister P Chidambaram — of 4.8 per cent of gross domestic product — is not breached.
Tax officers are reportedly asking companies to make higher advance tax payments and, if their actual profits turn out to be lower than projections, take refunds next year. If refunds are high, this would mean an extra burden on the next government, as the finance ministry pays interest at 0.5 per cent per month, or six per cent a year, on refunds to taxpayers. For companies, this means the money that could have been invested elsewhere lies idle.
Companies make advance tax payments in four instalments — in June, Sept...
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