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Circular No.4/2010-Income Tax Section 80-IA(4)(i) provides for a deduction to an undertaking engaged in developing, or operating and maintaining, or developing, operating and maintaining any infrastructure facility subject to satisfaction of the conditions laid down in the Section. The Explanation to sub-section 80-IA(4)(i) states that for the purpose of this clause, infrastructure facility means inter alia
The Finance Ministry has suspended the facility of e-filing of income tax returns, as security certification for the Income Tax Department’s website is not yet in place. In an official statement here on Monday, the Central Board of Direct Taxes (CBDT) said: “Pending completion of the certification procedure,
Your credit history is accessible to lenders and can affect whether you get a loan on more favourable or more difficult terms, or if you can get a loan at all. Here we share with you details of the changes sweeping the credit landscape in India, why they are important for you and how you can benefit from this.
Following shall be added at the end of Para 2.1.12 of the Notification No. 93 (RE-2007)/2004-09 dated 1st April, 2008: “2.1.13 With immediate effect, ban on export of Non-basmati rice shall also not be applicable to export of 1,00,000 MTs of non basmati rice (Parboiled) to Bangladesh as follows:
With immediate effect, existing entry against ITC (HS) code 1101 pertaining to wheat products, at Sl. No. 46A of the table in Paragraph 1 of Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007 read with Notification No. 116 (RE-2008)/2004-2009, dated 3.7.2009.
Securities and Exchange Board of India has been dragged to the court by one of its employees for the first time in its history. Nagendar Parakh, the senior-most chief general manager of Sebi, filed a petition in the Mumbai High Court on May 3 challenging Sebi’s decision of denying him a promotion as an executive director even while junior officers were being elevated.
To give effect to announcement in the Budget Speech of Hon’ble Finance Minister for the year 2010-11, amendments have been made to the Maharashtra Value Added Tax Rules, 2005, published in the Official Gazette referred to above. These amendments have come into effect from 1st May 2010.
PUBLIC NOTICE NO. 64/2009-14, NEW DELHI: DATED THE 18th MAY, 2010. In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes, with immediate effect, the following amendments in the Handbook of Procedures, Vol. 1:
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendment, with immediate effect, in Paragraph 1 of Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007, as amended from time to time:
Currently, tax department is issuing more than 7.5 million permanent account numbers (PANs) in a year through NSDL and, nowadays, PAN is being allotted in less than a week time. With increased modernisation of the Tax Department and electronic processing of tax returns non- quoting of PANs by deductees is creating serious problems in processing of tax returns and in granting credit for tax deducted at source.
