"01 March 2011" Archive - Page 5

Budget 2011- Omission of the requirement of quoting of Document Identification Number

Under the existing provisions contained in section 282B of the Income-tax Act, every income-tax authority shall, on or after the 1st day of July, 2011, allot a computer-generated Document Identification Number in respect of every notice, order, letter or any correspondence issued by him to any other income-tax authority or assessee or any...

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Posted Under: Income Tax |

Notification No. 3 /2011-Central Excise; dated: 01.03.2011

Notification No. 03/2011-Central Excise (01/03/2011)

Notification No. 3 /2011-Central Excise, New Delhi, the 1st March, 2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendm...

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Budget 2011- Reporting of activities of liaison offices

Foreign companies or firms or associations of individuals operate in India through a branch or a liaison office after approval by Reserve Bank of India. The branch constitutes a permanent establishment of the foreign entity and is, therefore, required to file a return of income along with requisite details. A non-resident does not file a ...

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Posted Under: Income Tax |

Option to pay duty at 5% with cenvat credit on which exemption has been withdrawn

Notification No. 02/2011-Central Excise [G.S.R. 117(E).] (01/03/2011)

Notification No. 2/2011-Central Excise, New Delhi, the 1st March, 2011. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the excisable goods of the de...

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Budget 2011- List of 130 Item on Which excise duty of one percent is payable

Notification No. 01/2011-Central Excise [G.S.R.116(E).] (01/03/2011)

Section 5A of the Central Excise Act, 1944 – Power to grant exemption from duty of excise – Exemption to specified excisable goods. NOTIFICATION NO. 1/2011-CENTRAL EXCISE, DATED 1-3-2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Govern...

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File Your FIR online in Delhi

The Delhi Police, in compliance of the directions of Hon’ble Delhi High Court in Writ Petition (Crl.) No. 468/2010 “Court on Its Own Motion Versus State” dated 06.12.2010, has implemented the system of uploading and viewing the FIRs registered in Delhi on its website www.delhipolice.nic.in in within 24 hours of registration except t...

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Posted Under: Income Tax |

Budget 2011- Recognition to Provident Funds– Extension of time limit for obtaining exemption from Employees Provident Fund Organisation (EPFO)

Rule 4 in Part A of the Fourth Schedule to the Income-tax Act provides for conditions which are required to be satisfied by a Provident Fund for receiving or retaining recognition under the Income-tax Act. One of the requirements of rule 4 [clause (ea)] is that the establishment shall obtain exemption under section 17 of the Employees' Pr...

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Posted Under: Income Tax |

Budget 2011- Major proposals about Service Tax

Services provided by air-conditioned restaurants having a license to serve alcoholic beverages in relation to serving of food and/or beverages. Short-term accommodation provided by a hotel, inn, guesthouse, club or campsite, or any other similar establishment for a continuous period of less than three months....

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Posted Under: Income Tax |

Budget 2011- Major proposals about Central Excise duty

Budget 2011- Major proposals about Central Excise duty Note: Changes come into effect immediately unless otherwise specified.Major proposals about Central Excise duty are the following: A. General:The First Schedule to the Central Excise Tariff Act, 1985 is being amended vide clause 70 of the Finance Bill to give effect to Tariff changes ...

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Posted Under: Income Tax |

3 National Institutes will conduct Study on Black Money in The Country

The Government has decided to get a fresh study conducted on unaccounted income/ wealth both inside and outside the country brining out the nature of activities engendering money laundering and its ramifications on national security. The proposal was approved by the Government in January, 2011. The study will be conducted by three nationa...

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Posted Under: Income Tax |