NIFTY  8,921.60  0.15%
  SENSEX  28,850.90  0.31%
 CURRENCY  Rs  66.93/$ 70.86/€, 83.36/£
  GOLD  29,230.00  -0.24%
  SILVER  42,680.00  -0.36%
  DAX  11,967.50  1.18%
  FTSE  7,274.83  -0.34%
  CAC  4,888.76  0.41%
  HANG SENG  23,963.60  -0.76%
  NIKKEI  19,379.90  -0.01%
  Shanghai Composite  3,253.33  0.23%
  DOW JONES  20,743.00  0.58%
  NASDAQ  5,865.95  0.47%
  S&P 500  2,365.38  0.60%
SUPREME COURT - Electricity To Be Stopped If Co Fails To Set Up Plant In 3 Months GLOBAL MARKETS - European Indices Open Firm; CAC-40 Rises 0.4%, DAX Gains 0.3%

OFCDs Are Securities, Not Deposits: ITAT

Video:

Play this video

September 6: In a landmark judgement, the Income Tax Appellate Tribunal has ruled that optionally convertible debentures are securities and cannot be treated as deposits for tax purposes. The order is likely to have a big ramification on the new breed of financial instruments, many of which are yet to be dealt with under existing laws. Bloomberg TV India outlines the details of this order and reviews its implications.