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Archive: 03 February 2010

Posts in 03 February 2010

Service tax not applicable on sale component of consideration for photography service

February 3, 2010 519 Views 0 comment Print

The photography films, printing papers, chemicals and envelopes are the integral and essential ingredients to complete the process of photography. Meaning thereby, the components of sale of photography, developing and printing etc. are clearly distinct and discernible than that of photography service. Therefore, we are of the view that as the photography

Section 2(48) of the Income-tax Act, 1961 – Zero Coupon Bond – Specified bond

February 3, 2010 6823 Views 0 comment Print

Notification No. 08/2010-Income Tax In exercise of the powers conferred by clause (48) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following particulars of zero coupon bonds for the purposes of the said clause, namely:—

Section 10(15)(iv)(h) of the Income-tax Act, 1961 – Exemption – Interest on bonds/debentures – Notified bonds or debentures of public sector companies

February 3, 2010 43241 Views 4 comments Print

Notification No. 7/2010-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorizes Indian Railway Finance Corporation (IRFC) to issue, during Financial Year 2009-10, tax free secured, redeemable, non-convertible Railway Bonds of Rs. 1,000 each in case of public issue and Rs. 1,00,000 each in other cases, aggregating to an amount of five thousand crore rupees only, carrying an interest rate in the range of 6.50% to 7.25% per annum, depending upon the size and tenor of a tranche:

public Notice No. 38/2009-14, Dated: 03.02.2010

February 3, 2010 736 Views 0 comment Print

2.13.1 However, revalidation of freely transferable Authorisation / Duty credit scrips and stock and sale Authorisation shall not be permitted unless validity has expired while in custody of Customs authority / RA.

Procedure to re-credit 4% SAD of Customs in DEPB, VKGUY, FPS, FMS, MLFPS scrips

February 3, 2010 837 Views 0 comment Print

Procedure to re-credit 4% Special Additional Duty (SAD) of Customs in DEPB, VKGUY, FPS, FMS, MLFPS scrips in view of the refund facility allowed under Customs Notification No. 102/2007-Customs dated 14th September, 2007 (as amended) to be read with the Customs instructions communicated vide F.No.354/129/2007-TRU dated 14.9.2007, Customs circular No..6 /2008-Customs dated 28th April, 2008 and 6 /2009-Customs dated 9th February, 2009—regarding.

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