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It has since been observed that some of Regional Authorities have been sending the request for extension of block of years to the Headquarters. In this regard, reference is invited to the provisions contained in Para 5.11 of HBP whereby Regional Authorities have been authorized for considering the request for extension in export obligation period. The issues relating to extension in Export Obligation period and extension in block of years are thus interlinked and hence have been re-examined.
In exercise of the powers conferred by Section 5 and Section 3(2) 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, 2004-2009, the Central Government hereby makes the following further addition with immediate effect at the end of Paragraph 2 of Notification No. 38(RE-2007)/2004-2009, dated 15.10.2007.
In light of the recent policy developments on account of waiver of load for direct applicants and removal of initial issue expense, format of the New Scheme Report has been revised. A copy of the revised format is enclosed.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures.
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.
Due Date of Tax Audit Preponed to 30th September. No change in ceiling of Rs. 40 Lacs under section 44AB. DIRECT TAXES -No change in corporate income tax rate. Income Tax exemption rates raised from 1.1 lakhs to 1.5 lakhs across the board. Exemption limit for women raised to 1.8 lakhs and for senior citizen raised to 2.25 Lakh. Fresh Facilities, Encouragement To Sports And Guest Houses Exempted From Fringe Benefit Tax.
