In partial modification of the Institute’s Notification Nos: 13-CA(EXAM)/N/2009 dated 9th July,2009 and 13-CA(EXAM)/CPT/ December/2009 dated 9th July,2009 , it is notified for the general information that the Professional Education Examination –II has been extended by two attempts i.e, the last examination of the same will take place in May-2010.
Chapter XIIB of the Income Tax Act, 1961 covers Minimum Alternate Tax U/s. 115JB, which covers cases under ‘Special Provision for Payment of tax by certain companies’.. The relevant extract of this section is produced below:
In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol.1) (RE-2008).
Now, therefore, in exercise of the powers conferred by section 11C of the said Act, the Central Government hereby directs that the whole of duty of excise leviable under the said Act on such goods falling under such tariff sub-heading as specified in the said Table but for the said practice, shall not be required to be paid for the period specified in column.
In pursuance of sub-rule (1) of rule 11 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government hereby extends the period upto and inclusive of 18th day of November, 2009 for submission of final findings on safeguard investigation concerning imports of Linear Alkyl Benzene into India.
NOTIFICATION NO. 62/2009 It is hereby notified for general information that the organization C.R. Rao Advanced Institute of Mathematics, Statistics and Computer Science (AIMSCS), Hyderabad has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act
The parity among all classes of unit holders in terms of charging exit load shall be made applicable at the portfolio level.
The assessee had borrowed funds for the purpose of investing in shares. The shares were held for capital purposes as well as for investment purposes. In AY 2004-2005, the assessee did not receive any dividend on the said shares and so there was no exempt income. The Special Bench had to consider whether the interest expenditure
In exercise of the powers conferred by sub-rule (2) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number 14/2002-Central Excise (N.T.),
The proposed reduction in corporate tax rate from 30% to 25% in the new direct tax code is only one side of the story. The cut has been offset by a reduction in exemptions and the dreaded change in the minimum alternate tax (MAT), which would hit companies that have to invest heavily in their businesses.
