amendments

Income Tax department has last amended the 3CD report by inserting a New Clause 17A after Clause 17 by NOTIFICATION NO. 36/2009, DATED 13-4-2009 , which require auditors to report Amount of interest inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006. In addition to that there were some changes in provisions of fringe benefit. I am attaching herewith a Revised Form 3CD for Tax Audit incorporating all the changes and amendments.. Full Article

LIST OF INSTITUTE’S PUBLICATIONS RELEVANT FOR MAY, 2011 EXAMINATION . The following List of Institute’s Publications is relevant for the forthcoming examination i.e. May, 2011. Students may kindly take it into consideration while preparing for the ex Full Article

NOTIFICATION NO. 27/2009-2014- A certificate that the toys being imported conform to the standards prescribed in ASTM F963 or standards prescribed in ISO 8124 (Parts I-III) or IS 9873 [Parts I-III] or standards prescribed in EN 71; Full Article

The External Commercial Borrowing (ECB) policy is regularly reviewed by the Government in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience. Consequent upon such a review and in order to develop the telecom sector in the country, the Government had earlier permitted eligible borrowers in the telecommunication sector to.. Full Article

NOTIFICATION NO. 26 /2009-2014, NEW DELHI, THE 25 JANUARY, 2009. S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in the Schedule 2 (Export Policy) of ITC(HS) Classifications of Export and Import items as amended, from time to time : Full Article

There are over five million income tax payers in India and this number is fast growing. The tax department, therefore, has to deal with millions of fresh returns every year. The tax returns along with annexures make a very huge mass of records which is nearly impossible to handle in a properly required manner. Full Article

PUBLIC NOTICE NO: 35(RE: 2010)/2009-2014 - In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2009-2014, as amended from time to time, amendments/corrections at appropriate places as mentioned in ANNEXURE "A” and ANNEXURE "B” to this Public Notice are made. Full Article

The Government should implement the GST regime with defined sharing arrangement between the State and the Centre, thereby protecting the interest of the State in generating revenue. How will carbon credits be taxed under the proposed Goods and Services Tax regime? Full Article