"September, 2009" Archive - Page 4

Due date for filing Income Tax Return been extended by one month in Pune, Sangli and Kolhapur

The Government today extended the date for filing of income tax returns by a month in three districts of Maharashtra.”The due date of filing income tax returns, due by September 30, 2009, of tax payer assessed to income tax in the districts of Pune, Sangli and Kolhapur, has been extended to October 31, 2009,”the Central [&hell...

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Posted Under: Income Tax |

Due date for filing return extended in case of Pune, Sangli and Kolhapur

Press Note No. 402/92/2006-MC (20 of 2009) (25/09/2009)

On consideration of the reports of local disturbances caused due to Swine Flue and riots of the Pune, Satara, Kolhapur and Sangli Districts of Maharashtra, the Central Board of Direct Taxes, in exercise of powers of conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of obtaining tax audit reports u/s 44AB...

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Notification No. 71/2009 – Income Tax Dated 25/9/2009

Notification No. 71/2009 - Income Tax (25/09/2009)

Notification No. 71/2009 - Income Tax It is hereby notified for general information that the organization Vipassana Research Institute, Mumbai has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rul...

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Circular No. 899/19/2009-Central Excise, Dated: 25.09.2009

Circular No. 899/19/2009-Central Excise (25/09/2009)

Attention is invited to Notification No. 05/2006-CE dated 01.03.06 which stipulates that Central Excise duty at 8% will be charged on Ceramic tiles manufactured in a factory not using electricity for firing the kiln on the condition that “if no credit of the duty paid on the inputs used in or in relation to the manufacture of such ceram...

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Revised Procedure for on line submission of application for obtaining registration under the MVAT Act, 2002

Trade circular No. 25 T of 2009 (25/09/2009)

Present Procedure: At present, the applications for registration are being made manually to the Registering Authority. On the receipt of the application, the application and the enclosed documents are verified by the Registering Authority and TIN Allotment Letter is issued on the same day. Tin certificates are being issued afterwards....

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Exchange Rate notification for Import / Export of goods wef 1st October, 2009

Notification No. 146/2009–Customs (N.T.) (25/09/2009)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.125/2009-CUSTOMS (N.T.), dated the 27 th August, 2009 vide number S.O. 2193(E), dated the 27 th August, 2009, except as respec...

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Notification No. 23/2009-Central Excise (N.T.); Dated: 25.09.2009

Notification No. 23/2009-Central Excise (N.T.) (25/09/2009)

“Provided that this procedure shall also be available for the supplies made by an Advance authorization holder to a manufacturer holding another Advance authorization, if such manufacturer, in turn, supplies the resultant products to an ultimate exporter in terms of para 8.3(c) of the Foreign Trade Policy, and the procedure, safeguards ...

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Loan waived by lender is not taxable in the hand of borrower

Cipla Investments Ltd. Vs ITO (ITAT Mumbai)

As the facts indicate the holding company has advanced funds to the assessee company in 1998 which was received as share application money, later on transferred to unsecured loan. The amounts were utilised in investments and the incomes thereon were offered under the head 'capital gains' and not as 'business income'. ...

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Sec. 143,rws 234A to 234C, of the IT Act and articles 12 and 7 of DTAA between India and USA

Microsoft Regional Sales Corporation Vs Assistant Director of Income-tax (ITAT Delhi)

The application of 15 per cent rate of tax on the amount shown in the return of income would not fall under the category of determination of tax payable on the returned income on the basis of return of income under section 143(1) when the assessee had categorically stated in the note enclosed with the return of income that the returned in...

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Two separate agreements to purchase a flat having two separate numbers do not mean that they are two residential units

Suresh C. Sadarangani Vs. ACIT (ITAT Mumbai)

word `property' has been used by the legislature in a wider sense so as to include more than one house. However, the right to compute the ALV at nil in respect of self occupied property is restricted to one house even thought he property owned by the assessee may consist of more than one house....

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