Explore detailed guidance on audit under Section 115JB of the Income Tax Act, 1961. Understand key terms, compliance requirements, and the comparative analysis of Section 115JB with Section 115JA. Learn about the applicability of Section 115JB to foreign companies, presumptive tax provisions, and the responsibilities of companies and auditors. This comprehensive guidance note aims to clarify the complexities and facilitate compliance with Section 115JB for companies and auditors.
Therefore, in exercise of the powers conferred by sub-section (1) of section 9A, read with the second proviso to sub-sections (5) and (6) of that section of the said Customs Tariff Act and rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
In exercise of the powers conferred by sub-section (1) of section 9A, read with the second proviso to sub-section (5) and (6) of that section in the Customs Tariff Act, 1975 (51 of 1975) and rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 116/2004- Customs, dated the 24th December, 2004.
In exercise of the powers conferred by Sub-section (1) of Section 621 of the Companies Act, 1956 (1 of 1956), the Central Government hereby authorise the following officer of the Serious Fraud Investigation Office (SFIO), Ministry of Company Affairs for the purposes of that Sub-section in respect of offences punishable under the provisions of the Companies Act, 1956.
In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Paragraph 1.3 of the Foreign Trade Policy, 2004-09, the Central Government hereby makes the following amendments in the Foreign Trade Policy.
Representations have been received regarding availability of DFRC on supplies made to SEZ units. The issue has been examined and it is hereby clarified that since all supplies to SEZs is treated as physical exports with effect from 1st September 2004, such supplies will be entitled to the benefit of DFRC under the Foreign Trade Policy.
Incase of deemed exports, a copy of the invoice duly signed by the unit receiving the material and their jurisdictional excise authorities certifying the item of supply, its quantity, value and date of such supply. However, incase of supply of items, which are non-excisable product(s), a project authority certificate (PAC) certifying quantity, value and date of such supply would be acceptable in lieu of excise certification. Not withstanding the above, in respect of supplies to EOU, a copy of ARE-3 duly signed by the jurisdictional excise authorities certifying the item of supply, its quantity, value and date of such supply shall be furnished.
However, the facility of extension of export obligation period shall not be allowed in case of advance licence wherein import of penicillin and its salts (ITC(HS) Code No. 29411 010) and 6 – APA (ITC(HS) Code No. 29411 050) have been allowed as an input. The licensing authority shall make an endorsement in the advance licence to this effect.
In exercise of the powers conferred by rule 3, read with rule 4, of the Customs and Central Excise Duties Drawback Rules, 1995 (hereinafter referred to as the said rules) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 26/2003-Customs (N.T.), dated the 1st April, 2003, except as respects things done or omitted to be done before such supersession, the Central Government hereby determines the rates of drawback as specified in the Table annexed hereto (hereinafter referred to as the said Table), subject to the conditions specified in the General Notes hereunder, namely.
he Stock Exchanges are advised to report to SEBI, the action taken in this regard in Section II, item no. 13 of the Monthly Development Report for the month of February, 2005.
