Rbi press release about nbfc
This query is : Resolved
08 February 2013
As per the RBI Press Release dated April 8, 1999, The company will be treated as a non-banking financial company (NBFC) if its
financial assets are more than 50 per cent of its total assets (netted off by
intangible assets) and income from financial assets is more than 50 per cent
of the gross income. Both these tests are required to be satisfied as the
determinant factor for principal business of a company.
Can anybody tell me, What is GROSS INCOME? is it the Total Sales + Interest Income/ Gross Profit / Profit Before Tax?
For Example Company A is a manufacturing concern. During the year Total Sales is Rs. 500 Crores. Interest Income Rs. 100 Crore. Profit Before Tax Rs. 180 Crore. Whether it is NBFC?
financial assets are more than 50 per cent of its total assets (netted off by
intangible assets) and income from financial assets is more than 50 per cent
of the gross income. Both these tests are required to be satisfied as the
determinant factor for principal business of a company.
Can anybody tell me, What is GROSS INCOME? is it the Total Sales + Interest Income/ Gross Profit / Profit Before Tax?
For Example Company A is a manufacturing concern. During the year Total Sales is Rs. 500 Crores. Interest Income Rs. 100 Crore. Profit Before Tax Rs. 180 Crore. Whether it is NBFC?
12 February 2013
Can anybody answer this please
19 February 2013
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