"July, 2008" Archive - Page 4

Notification No. 24 (RE-2008)/2004-2009, Dated: 18.07.2008

Notification No. 24 (RE-2008)/2004-2009 (18/07/2008)

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 2.1 of the Foreign Trade Policy, 2004-09, the Central Government hereby makes the following amendments in the Notification No.22 (RE-2008)/2004-09 dated 3rd July, 2008....

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Circular No. 6/2008-Income Tax Dated 18-7-2008

Circular No. 6/2008-Income Tax (18/07/2008)

Circular No. 6 of 2008-Income Tax The Central Board of Direct Taxes, vide notification S.O. No. 752(E), dated 28.3.2008 have notified return forms for the assessment year 2008-09. With a view to enabling tax payers to file returns in the electronic mode, these returns (except ITR-7) have been made annexure-less....

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Policy Circular No. 22 (RE-2008)/2004-2009, Dated: 18.07.2008

Policy Circular No. 22 (RE-2008)/2004-2009 (18/07/2008)

The matter has been considered in this Directorate and it has been decided to inform all concerned that the ITC(HS) Code endorsement by Regional Authority against each input under the aforesaid Schemes shall continue. It is the responsibility of the exporters to declare the correct ITC(HS) Code. Corrections in ITC(HS) Code, even subsequ...

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Public Notice No. 52 (RE-2008)/2004-2009, Dated: 18.07.2008

Public Notice No. 52 (RE-2008)/2004-2009 (18/07/2008)

In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, addition/revision/amendments/corrections at appropriate places as mentioned in ANNEXURE "A” (Page 1 ) to this Public Notice are made....

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No interest tax on lease finance company

Giving relief to companies engaged in leasing and financing business, the Income Tax Appellate Tribunal has ruled that they are not required to pay interest tax, applicable to other credit institutions. Since substantial earnings is made from such (lease financing) activity after employing substantial funds...the assessee would be outside...

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Posted Under: DGFT |

Professional tax may raise to Professionals

Doctors, lawyers and other professionals —both salaried and self-employed— may now have to pay a higher professional tax. Acceding a long-pending demand of the state governments, the Centre has decided to raise the ceiling on professional tax from Rs 2,500 to Rs 7,500 per annum. The Union Cabinet is expected to take up the proposal on...

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Posted Under: DGFT |

Energy audit in tea factories

In the first instance, 15 bought-leaf tea factories in Nilgiris have applied for energy audit under the energy conservation project launched by Tea Board in co-operation with United Nations Development Programme’s Global Environment Facility and implemented by Technology Informatics Design Endeavour (TIDE). ...

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Posted Under: DGFT |

Department activities to increase tax collections

TAN is a unique identification number, which is allotted to people who are deducting or collecting tax at source on behalf of the income tax department. It has to be quoted in all TDS/ TCS returns. As in the case of permanent account numbers (PAN) that helps to keep track of all assessees and their returns, TAN is used to keep a tab on a...

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Posted Under: DGFT |

Bank liable to deduct TDS on MICR charges

The Ahmedabad Income-Tax Tribunal has held that where charges are incurred towards MICR facilities regarding identifying, reading and clearing cheques through special kind of machines, the same would be in the nature of fees for technical services (FTS) and would accordingly be liable to deduct tax at source (TDS) under section 194J. In t...

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Posted Under: DGFT |

Three words enough to access your tax records – beware

If you are thinking of filing your income tax returns online, think twice. It is very easy for anyone to hack into your account and have access to your income tax details. All a hacker needs to know is - 1. Your name 2. Permanent account number (PAN) and 3. Your date of birth. He first needs to log onto the e-filing website (www.incometa...

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Posted Under: DGFT |
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