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Archive: 21 October 2009

Posts in 21 October 2009

Exemption of Excise duty leviable on specified goods affixed with brand name or trade name of another person

October 21, 2009 943 Views 0 comment Print

Packing materials, namely, printed cartons of paper or paper board, metal containers, high density polyethylene woven sacks, adhesive tapes, stickers, pilfer proof caps, crown corks, metal labels.

Income From Other Sources- Section 56 (2)(Vii) Unequal treatment of all equals

October 21, 2009 17969 Views 9 comments Print

The Budget 2009-2010 amended the Income Tax Act so as to tax notional income resulting from transactions in immovable properties under section 56 i.e. Income from other sources. Our focus in this write-up will be only on newly inserted provisions in section 56 pertaining to Immovable Property which is bound to result in more questions than their answers.

Central Excise Notification on exemption of packing material with brand name or trade name of another person

October 21, 2009 9457 Views 0 comment Print

Central Excise – Notification No. 24/2009 Dated Wednesday, October 21, 2009 -Exempts Packing materials, namely, printed cartons of paper or paper board, metal containers, high density polyethylene woven sacks, adhesive tapes, stickers, pilfer proof caps, crown corks, metal labels, Plastic bags, Printed laminated rolls affixed with brand name or trade name of another person.

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