Circular No. 890/10/2009-CX For the purposes of uniformity with respect to classification of ‘coconut oil’ packed in small containers and levy of excise duty, to issue the following instructions. Same issue was examined in the year 1995 but subsequently the Central Excise Tariff was amended w.e.f. 28.2.2005 and therefore, the issue has been re-examined.
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulation of the profession of Chartered Accountants in India. During its six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing, ethical standards. ICAI now is the second largest accounting body in the world.
ICAI given the proposal of for Nomination of Chartered Accountants u/s 14A and 14AA of the Central Excise Act, 1944 for special audit. Copy of letter written by ICAI President CA. UTTAM PRAKASH AGARWAL to The Chairman, Central Board of Excise & Customs is as follows:- No.1-CA(Rep Com) /2009, Dated: 2nd June, 2009 The Chairman, Central Board of Excise […]
Ministry of Corporate Affairs vide Notification G.S.R. 257(E) dated 17-04-09 has made the Companies (Central Government’s) General Rules and Forms (Second Amendment) Rules, 2009 and thereby revised the following forms: Form 19 – Declaration of compliance with the provisions of section 149(i)(a), (b) and (c) of the Companies Act,1956.
The contention of the assessee regarding allowability of foreseeable loss is accepted in principle, However, the issue is restored to the file of AO for the purpose of quantification and calculation of the said loss in terms of Accounting Standard -7, as the same has not been done.
The cost of the land shall be determined in accordance with the guidelines appended to the Annual Statement of Rates prepared under the provisions of the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the 1st January of the year in which the agreement to sell the property is registered.
The days of spot prices of gold differing from one city to another will soon be over. The launch of the Indian Bullion Market Association, which will represent the Indian bullion trade and industry, will ensure the country now has a uniform price of the yellow metal. The association, jointly promoted by National Spot Exchange […]
Notification No. 47/2009 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, videnumber S.O. 2022(E), published in the Gazette of India, Part II, Section
RELAXATION IN CUT-OFF DATE The actual cut-off date for acceptance of Registration Applications relating to Executive Programmefor appearing in one module in December, 2009 Session of Examinations is 31st May, 2009. However, in view of the fact that the said date is falling on an official holiday (Sunday),the next working day i.e. 1st June, 2009 will […]
Income Tax Department has introduced a scheme for centralized processing of annual income-tax returns which envisages no interface with the tax payer and processing of returns to be done in an automated jurisdiction-less manner. Implementation of such scheme requires having a robust system for information relating to payment of TDS and TCS so that the credit for TDS and TCS can be granted accurately and the risk of financial fraud is minimized.
