"October, 2011" Archive - Page 10

Procedure for Download of Form 16A TDS Certificate

Form 16A PDF Converter Utility. 1. The Form 16A text file is to be passed through the PDF Converter Utility to convert to generate PAN wise Form 16A in PDF format. 2. The PDF Converter Utility is available to registered TANs at TIN. 3. It is available under the option ‘Form 16A’ post login to TAN account. ...

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Posted Under: Income Tax | ,

Eligibility of export product 'Technical Textiles' listed at FPS Product Code 33, Table-4, Appendix 37D of HBPv1

Policy Circular No. 42 (RE-2010)/2009-14 (21/10/2011)

The matter has been examined. It is decided that a technical textile is a textile product manufactured for non-aesthetic purposes, where function is the primary criterion. Technical textiles include textiles for automotive applications, medical textiles, geotextiles, agrotextiles and protective clothing like heat and radiation protecti...

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Role of Foreign Investment Promotion Board (FIPB)

The Foreign Investment Promotion Board (FIPB) is a government body that offers a single window clearance for proposals on Foreign Direct Investment (FDI) in India that are not allowed access through the automatic route. FIPB comprises of Secretaries drawn from different ministries with Secretary, Department of Economic Affairs, MoF in the...

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Posted Under: Income Tax |

Circular No. 46/2011-Customs, Dated 20th October, 2011

Circular No. 46/2011 - Customs (20/10/2011)

Circular No. 46/2011 - Customs While processing Drawback claims, whether under Section 74 or Section 75, wherever any deficiency is noticed in the claim, the same shall be communicated to the exporter in a clear unambiguous manner within a period of 10 days, from the date of filing of the claim. Further, the drawback claims shall be disbu...

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CBDT Makes Discussion Paper on Tax Accounting Standards Public

The Central Board of Direct Taxes (CBDT) has made public the discussion paper on accounting standards, to be known as Tax Accounting Standards (TAS), for feedback from all concerned. The TAS, applicable only to computation of taxable income under the Income Tax Act 1961, will be different from accounting standards issued by the Institute ...

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Posted Under: Income Tax |

Observance of Vigilance Awareness Week as 'Grievance Redressal Week'

2. The CVC during its consultative meeting with the CBDT on 18.10.2011 has conveyed that the Vigilance Awareness Week 2011 should also be observed as Grievance Redressal week. Hence in addition to the various activities suggested in the earlier communication , the week long celebration should be combined with the whole hearted effort to r...

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Posted Under: Income Tax |

NHB advised housing Finance companies to charge Uniform interest (floating rate basis) for old and new customers

NA (21/10/2011)

The NHB, which is the housing finance regulator, has also asked HFCs to ensure that all borrowers pay the same interest rate, irrespective of when the loan was taken. Download NHB Notification No. NHB (ND)/DRS/Pol. No. 44/2011-12 Dated 19.10.2011 related to Uniformity in charging interest (floating rate basis) for old and new customers...

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Clarification on "Completion of Service" where service providers are unable to issue invoices within 14 days of completion of service

TRADE NOTICE NO. 15/ST/2011 (20/10/2011)

This is to clarify that as per Service Tax Rules, 1994, an invoice should be issued within a period of 14 days from the completion of the taxable service. The invoice needs to indicate inter alia the value of service so completed. Thus, it is important to identify the service so completed. ...

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Addition under section 68 not permissible when the advances are received by account payee cheques and interest and shares have been paid and allotted against these advances

D.C.I.T Vs M/s Bihariji Ispat Udyog Ltd. (ITAT Kolkata)

DCIT Vs. Bihariji Ispat Udyog Ltd. (ITAT Kolkata)- From the record it appears that all the aforesaid transactions were by Account Payee cheques and loan confirmation and also the confirmation for payment of Share Application Money were obtained from the said Ankur Marketing Ltd. with its I.T. File No. and the same were filed with the A.O....

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Govt. issues National Public Private Partnership (PPP) Policy – 2011

NA (20/10/2011)

Government of India is committed to improving the level and the quality of economic and social infrastructure services across the country. In pursuance of this goal, the Government envisages a substantive role for Public Private Partnership (PPPs) as a means for harnessing private sector investment and operational efficiencies in the prov...

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