"05 December 2011" Archive

IRS officer and CA wife on trial for 'disproportionate assets'

A Delhi court has decided to put an IRS officer on trial along with his chartered accountant wife for allegedly owning assets exceeding his legal income, rejecting the woman's plea that the CBI has clubbed her income with that of her husband to arrive at the 'disproportionate assets' figure. ...

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Posted Under: CA, CS, CMA |

Expected Future Revolution in Income Tax

If we talk about 1970s ,80s or even 90s, than people at that time could not even have imagined about e-filing of their income tax return. With revolutionary changes in computer technology now efiling of various returns is very easy. In efiling Assessee receive acknowledgement receipt online. In addition to that department has also started...

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Posted Under: CA, CS, CMA |

India to Host Fourth International Tax Dialogue Conference

India is hosting the 4th International Tax Dialogue Conference (ITD) Global Conference on Tax and Inequality. More than 250 foreign delegates are expected to take part in this three day conference being held at Vigyan Bhawan from 7th to 9th December. The conference would be inaugurated by the Union Finance Minister, Shri Pranab Mukherjee....

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Posted Under: CA, CS, CMA |

Notification No. 29 CE – Export procedure under Notification No. 45/2001 to apply to only export to Bhutan

Notification No. 29/2011-Central Excise (N.T.) 05/12/2011

Notification No. 45/2001-Central Excise (N.T.), dated the 26th June, 2001 prescribes the procedure for export without payment of duty to Nepal and Bhutan. Now Nepal is removed – that is no restrictions or conditions specific to Nepal. Goods can be exported to Nepal just like to any other country. Notification No. 29/2011-Central Excise ...

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Removal of intermediate goods without payment of duty allowed for export to Nepal

Notification No. 28/2011-Central Excise (N.T.) 05/12/2011

Notification 44/2001-Central Excise (N.T.), dated the 26th June, 2001 prescribes the procedure for removal of excisable goods without payment of duty for manufacture of export goods by an advance licence holder, for export to countries other than Nepal and Bhutan. Now this notification is applicable for export to Nepal too. Notification N...

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Procurement of excisable goods without payment of duty for use in manufacture of export of goods to Nepal allowed when payment is in Indian Rupee

Notification No. 27/2011-Central Excise (N.T.) 05/12/2011

Notification No. 43/2001-Central Excise (N.T.), dated the 26th June, 2001 prescribes the conditions and procedure for procurement of excisable goods without duty for manufacture of export goods. This Notification had certain conditions that for export to Nepal and Bhutan, the payment was to be in freely convertible currency and the proced...

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Notification No. 26/2011-Central Excise (N.T.) Dated- 05.12.2011

Notification No. 26/2011-Central Excise (N.T.) 05/12/2011

Notification No. 42/2001-Central Excise (N.T.), dated the 26th June, 2001 prescribes the conditions and procedure for export without payment of duty to countries other than Nepal and Bhutan. Now this Notification will apply to exports to Nepal – that is without payment of duty. Notification No. 26 / 2011-Central Excise (N.T.)- New Delh...

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Notification No.20/2004 which granted rebate to Nepal Government rescinded

Notification No. 25/2011-Central Excise (N.T.) 05/12/2011

Notification No. 20/2004-CENT dated 06.09.2004 prescribed the procedure for granting of rebate on goods exported to Nepal, to be paid to the Government of Nepal. Now, as the Rebate can be paid to the exporter, this notification is rescinded. – Notification No. 25/2011 – CX NT, Dated: December 05, 2011 ...

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CBDt not to share data received under the DTAA with Germany with any other Agency

it is clarified that the CBDT has not shared any information received under the DTAA with Germany regarding Indians having accounts in the LGT bank, Liechtenstein, with any other agency. The CBDT has also not authorised the use of the information received for any purpose other than tax purposes. ...

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Posted Under: CA, CS, CMA |

Service tax on Port Services by Other Ports (Minor Ports)

Port service means any service rendered within a port or other port, in any manner. Taxable service means any service provided or to be provided to any person, by any other person, in relation to port services in other port, in any manner....

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