"13 August 2009" Archive

Notification No. 121(RE-2008)/2004-09, Dated: 13.08.2009

Notification No. 121 (RE-2008)/2004-09 13/08/2009

In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2004-09, the Central Government hereby makes the following amendments in Schedule-I (Imports) to the ITC (HS) Classifications of Export and Import Items, 2004-09....

Amends Notification No. 36/2001-Customs Duty (N. T.), Dated: 03.08.2001

Notification No. 122/2009 - Customs (N. T.) 13/08/2009

Under Secretary to the Government of IndiaNote: - The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S. O. 748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 103/2009-Customs (N.T.), dated, the 31st Ju...

Guidelines for import of Rough Marble Blocks/Slabs for the year 2008-09

Policy Circular No. 101 (RE-2008)/2004-2009 13/08/2009

The representations have been examined and with the approval of competent authority, it is informed that it has been decided to grant another 25% of the quota to the erstwhile licencees under the aforementioned Circulars....

Sustainability of orders passed by Settlement Commission in violation of section 245D(4) of IT Act, 1961

CIT Vs. Anil Hastkala (P.) Ltd. (Rajasthan High Court)

Chapter XIX-A is a complete Code in itself as regards settlement of cases for having provided a complete mechanism other than procedure provided under the IT Act. Legislature conferred all powers upon Settlement Commission being vested in IT authority under the Act as provided U/s 245-F and what is being decided...

TDS u/s 194A of the Act is to be paid by the recipient in respect of the interest income on the delayed payment

Karnal Singh Vs State of Haryana (Punjab & Haryana High Court)

Therefore, we hold that it is a revenue receipt exigible to tax under Section 4 of the Income Tax Act. Section 194-A of the Act has no application for the purpose of this case as it encompasses deduction of the income at the source. However the appellants are entitled to spread over the income for the period for which payment came to be m...

Download Direct Tax Code 2009 and main highlights of the same

Finance Minister Pranab Mukherjee on August 10 released the New Draft Direct Tax Code. The draft, which is expected to radically change the tax structure, will now be open for discussion after which it will take the form of law. The finance minister had in his budget promised to deliver a new code within 45 […]...

Posted Under: DGFT |

Applicability of TDS in case of Third Party Administrator (TPA) providing health insurance claim services

The Medi Assist India TPA Pvt. Ltd. Vs DCIT (TDS) [Karnataka High Court]

Having regard to the agreement entered into inter se between the hospital and the TPA for payment of money to the hospital, it cannot be said that the TPA, who is the authority or the person to pay the amount to the hospital, is not required to deduct the tax at source and section 194J is not attracted....

Sentences of former UCO Bank Chairman and close associates of Harshad Mehta confirmed by Apex Court

THE key accused of 1992 Stock market scam, Harshad Shantilal Mehta, is no more, but many other accused closely associated with his firms and co-conspirators from PSU banks are very much alive and their sentences given by the Special Court have been confirmed by the Apex Court in its latest ruling. True, Harshad Mehta and […]...

Posted Under: DGFT |

SC issued notice to Moser Baer on income tax liability of Rs 2,978 crore

The Supreme Court has issued a notice to Moser Baer India Ltd on why it should not be asked to pay income tax to the tune of Rs 2,978 crore.A Bench headed by Justice S H Kapadia sought the reply from the manufacturer of computer-related products, including floppies and compact discs, on the income tax […]...

Posted Under: DGFT |

Utility to Print ITR Form & Acknowledgement from XML File (XML to ITR)

I recently come to know about one great utility. This utility helps us in printing ITR from XML file of ITR. We can generate ITR form with this tool in PDF format and all form will be in one file so you print the ITR in one print command....

Posted Under: DGFT |

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