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
Helloooooooooooooooooooooooooooooooooooo
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- EPF FULL & FINAL RULES IN 2026
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Eway bill generation from place other than registeted
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
