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Central Excise Notification No 35/2010 – Central Excise; dated: 21.12.2010

December 23, 2010 489 Views 0 comment Print

Rescinds notification no. 17/2010 – Exempts packaged software or canned software equivalent to the excise duty payable on the portion of the value determined under section 4 which represents the consideration paid or payable for transfer of the right to use such goods Notification No. 35/2010-Central Excise, New Delhi, the   21st December, 2010 G.S.R.     (E).- […]

Notification No. 92/2010-Income Tax Dated 23/12/2010

December 23, 2010 1363 Views 1 comment Print

Notification No. 92/2010-Income Tax It is hereby notified for general information that the organization Indira Gandhi National Centre of the Arts, New Delhi 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 Rules, 1962 (said Rules), from assessment year 2010-11 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions

Notification No. 91/2010-Income Tax Dated 23/12/2010

December 23, 2010 418 Views 0 comment Print

Notification No. 91/2010-Income Tax – Indraprastha Institute of Information Technology, New Delhi has been approved by the Central Government for the purpose of clause (ii) 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 Rules, 1962 (said Rules), from assessment year 2010-11 onwards in the category of ‘other Institution’, partly engaged in research activities subject to the following conditions, namely :—

Notification No. S.O. 3021(E)-Income Tax Dated 23-12-2010

December 23, 2010 851 Views 0 comment Print

Notification No. S.O. 3021(E)-Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below

Service Tax – Eligibility of benefit of exemption notification 12/2003-ST for materials consumed in retreading of old tyres – Pre-deposit fully waived and stay granted

December 22, 2010 856 Views 0 comment Print

We find that in an identical issue this bench had taken a view in the case of Chakita Ranjini Udyam (supra) that the value of the rubber, cushion, gum and solution consumed in the retreading/ reconditioning of tyres need not be included in the value for the discharge of Service Tax and benefit of Notification No.12/2003 is available.

Service Tax – Credit taken on invoices issued by Input Service Distributor before getting registered – Pre-Deposit Ordered

December 22, 2010 2286 Views 0 comment Print

We are of the prima facie view that from the number of invoices, it is clear that the invoices dated 29.07.2005, 26.08.2005, 1.8.2005, 22.10.2005 and 26.11.2005 had been issued at a later date in 2006, as the invoice number of these invoices issued during July 2005 to November, 2005 period is of the year 2006 and under these invoices, the credit amounting to about Rs.60 lakhs had been taken.

Flat Owners – the difficulties with Builders and Agreements – a case study

December 22, 2010 666 Views 0 comment Print

We have seen the growth of reality sector in the recent past and with the rise of Private Sector, the growth and the employment opportunities, many individuals prefer to acquiring flats in large residential projects undertaken by reputed builders. The growth of reality sector proceeds on the basis of expectation of continual growth and also the investors feel secured by investing in fixed assets.

Amendments to Equity Listing Agreement Vide Circular Dated December 16, 2010

December 22, 2010 807 Views 0 comment Print

Shareholding pattern prior to listing of securities Entities which seek listing of their securities post-IPO shall mandatorily submit their shareholding pattern as per Clause 35 of the LA one day prior to the date of listing. The stock exchanges sha

Insurance – Expenses of Management

December 22, 2010 771 Views 0 comment Print

ORDER NO. : IRDA/F&A/ORD/EMT/203/12/2010, DATED 8-12-2010 On the recommendation of the General Insurance Council vide letter dated November 22, 2010, the Authority hereby exercises powers vested under the proviso to section 40C(1) of the Insurance Act, 1938. In accordance therewith, the companies listed at Annexure shall be deemed to be not in violation of the […]

Excise Duty -Scope of Notification Nos.49/2003-CE and 50/2003-CE both dated 10.06.2003

December 22, 2010 5446 Views 0 comment Print

Kind attention is invited to Notification Nos. 49/2003-CE and 50/2003-CE both dated 10.06.2003 which provide full exemption from excise duties to goods cleared from industrial units in the states of Uttarakhand and Himachal Pradesh for a period of ten years from the date of commencement of commercial production. The exemption is available to new units set up or existing units which have undergone substantial expansion in terms of the said notifications and commence commercial production before the cut-off date, that is, on or before 31.3.2010

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