"22 June 2011" Archive - Page 2

Regarding Issue of Custom House Agent License – Reference from field formations – Circular No.25/2011-Customs

Circular No. 25/2011-Custom Duty 22/06/2011

Circular No.25/2011-Customs Attention is also invited to Board’s Circular No.9/2010-Customs dated 8.4.2010 which stipulates that those applicants who have passed the examination referred to in Regulation 9 of CHALR, 1984, but were not given Licence under the said Regulation were required to appear in the examination and qualify the same...

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Requirement of import permit / registration with / from CIB & RC for import of substances listed in the schedule 3 of the Insecticide Act, 1968, for non-insecticidal use under Insecticides Act, 1968

F.No.401/101/2011-Cus.lll 22/06/2011

Board has received references from trade and industry highlighting difficulties being faced in clearance of imported substances listed in Schedule 3 of the Insecticides Act, 1968 that are meant for non-insecticidal purposes. Reportedly, on account of varying interpretations of the relevant legal provisions, the Custom Houses are adopting ...

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RBI to put the data on Overseas Direct Investment in the public domain

The Reserve Bank of India has decided to put on its website on a monthly basis from July 2011 onwards the outflows on account of Overseas Direct Investment by Indian Companies / Parties as reported by the Authorized Dealers in Form ODI. The report will consist of the following fields, viz., the name of the Indian Company / Party, name of ...

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Posted Under: Custom Duty |

Quote updated e-mail ID and contact details including mobile no. in your Quarterly TDS/TCS statement

NSDL on its website on 21/06/2011 posted a message by which it asked to Quote updated e-mail ID and contact details including mobile no. in our Quarterly TDS/TCS statement so that it can send updates on developments/ changes at TIN on our email address and via sms on our mobile phone. ...

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Posted Under: Custom Duty | ,

Govt exempts CBI from RTI

Notification No. G.S.R. 442(E) 09/06/2011

Government has vide notification No. G.S.R. 442(E) dated 09.06.2011 exempted CBI from thr purview of RTI Act, 2005. This has been done by inserting the CBI Name in Second Schedule of the RTI Act. The Second Schedule of the RTI Act exempts certain Public Authorities under the Central Government from disclosure of information under the RTI...

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Online filing of Income tax returns in India jumps 80 per cent in F.Y. 2010-11

Online filing of tax returns in India jumped 80 per cent to 91.57 lakh in 2010-11 and is projected to zoom to to 7.5 crore in five years, according to an online service portal. NK ETax Solutions Chairman Sanjay N Kapadiaa said in 2010-11, the number of tax returns filed was 4.4 crore, compared to 3.40 crore in the previous fiscal....

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Posted Under: Custom Duty |

DTAA re-negotiation with Mauritius to resume by Aug-Govt

Under intense pressure from the Opposition and the civil society on the issue of black money, the government on Monday said it has proposed re-negotiation by August of double tax avoidance pact with Mauritius, a route often said to be used to bring illegal wealth back to India....

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Posted Under: Custom Duty |

Andhra Pradesh Compulsory Gratuity Insurance Rules, 2011 makes Gratuity Insurance compulsory

NA 22/06/2011

Every employer other than an employer of an establishment belonging to, or under the control of, the Central Government or a State Government, shall subject to provisions of sub section (2) under section 4A of the Act, obtain an insurance in the manner prescribed under sub-section (4) of section 4A of the Act for his liability for payment...

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Whether the Explanation to section 73 can be applied to sections 70, 71 and 72 and in determining the gross total income

M/s. PCBL Industrial Ltd. Vs. CIT, Kolkata & Anr. (Calcutta High Court)

M/s. PCBL Industrial Ltd. Vs. CIT, Kolkata & Anr. (High Court of Calcutta)- Whether the Explanation to section 73 which creates a legal fiction by which the purchase and sale of shares specified in the said Explanation which is specifically used for the purpose of section 73 as deemed speculation business can be applied to sections 70, 7...

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Duration of fraud prior to detection in Asia is an average of five years – KPMG

Fraudsters go undetected for a longer duration in Asia, with a survey revealing that frauds in the region sometimes do not come into the light for ten years or more. In Asia, it takes longer to detect frauds than any other region in the world, says a global consultancy KPMG report, released today....

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Posted Under: Custom Duty |

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