In view of the above, I am directed to say that all the Customs field formations should verify whether the export goods packed with raw or solid wood packaging material comply with the ISPM No. 15 or are accompanied by a phytosanitary certificate with the treatment endorsed issued by the agencies which are accredited / certified by DAC. In case of non-compliance, the matter may be referred to the Plant Quarantine authorities for proper treatment of export goods before their release.
Accounting regulator ICAI today asked 11 more auditing firms having foreign affiliations to furnish with information on their activities and operating structure in India. “We have issued notices to 11 more firms. We have asked about their activities, international affiliations and operating structure in India,” ICAI President Uttam Prakash Agarwal said here. Last week, the […]
Beating the slowdown, chartered accountants (CAs) have bagged jobs with top-notch companies in the latest campus placement drive, which has also seen more newly qualified professionals get jobs. State-run companies, especially from the financial services sector, have emerged as the biggest recruiters in the current round of hiring. Four newly-qualified members of the Institute of […]
The procedure for enlisting new agencies under Appendix 5 is notified at Para 2.32.A of Handbook of Procedures Vol.I. Any new agency desiring to enlist under Appendix-5 for pre-shipment inspection of waste paper may apply to DGFT according to provisions cited therein.
In the present case, the alleged amount of Rs. 8.55 lakhs was received by the assessee in cash on account of share application money, penalty under s. 271D cannot be levied because the receipt of share application money is neither loan nor deposit and hence the impugned receipt of Rs. 8.55 lakhs is not governed by s. 269SS of the Act. We therefore, delete the penalty.
The forms includes Return Of Net Wealth in Form A, Form Of Return Of Net Wealth For Individual/Hindu Undivided Families/Companies in Form BA, Form Of Return Of Net Wealth Under Sub-Section (1) Or Sub-Section (2) Of Section 14 Of The Wealth-Tax Act, 1957 [For companies * only] in Form A, Statement of valuation of jewellery in Form O-8A and all other forms.
The Ministry of Corporate Affairs has vide notification1 dated 31 March 2009 relaxed the provisions of Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange Rates2 in so far as they relate to the recognition of losses or gains arising on restatement of long-term foreign currency monetary items. By another notification3 consequential amendments to […]
The Supreme Court today has dismissed the appeal of Union of India against the judgement in case of Martin Lottery Agencies Ltd. earlier given by Sikkim High CourtAs a result of dismissal of appeal filed by the Government; the show cause notices demanding service tax of over Rs 2200 Crore from Lottery Agents are liable to […]
In respect of AY 2002-2003, the assessee claimed by a revised return that the loss suffered in respect of one s. 10A unit was not liable to be set-off against the profits of another s. 10A unit. The AO rejected the claim and the assessee accepted the decision of the AO. On the question whether the assessee was liable for penalty u/s 271 (1) (c) for “furnishing inaccurate particulars of income”, especially in the light
That the property market has undergone a significant correction is well known. That real estate experts are now talking about prices bottoming out is well known too. But, contrary to conventional wisdom, experts are of the view that this may not be the right time to invest in residential property. And, their advice is for both […]
