Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1111(E) dated the 8th August, 2005 issued under 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 had notified at serial number 2
NC Notification No. 120/2011 – Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, issued under sub-section (i) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 4, “Kannoli -Vision Saver” by Sankara Eye Hospital, No. 1, Third Cross Street, Sri Sankara Naga, Pammal, Kanchipuram district, Chennai 600 075, Tamilnadu, as an eligible project or scheme for
Unlike in the past, expenditure of candidates for the Manipur Assembly elections on January 28 would be closely monitored by the IT department, officials said on Monday. About 55 officials from the directorate of income tax would arrive here in the next few days to oversee expenditures of the candidates and to check excess expenditures.
Shri M.V.Subramanyeswara Reddy (HUF) Vs DCIT ITAT Hyderabad Mere non residential use subsequently would not render the property ineligible for benefit u/s.54F, if it is otherwise a residential property, as held by the Delhi Bench of the Tribunal in the case of Mahavir Prasad Gupta Vs JCIT (5 SOT 353).
The Indian Textiles Industry has an overwhelming presence in the economic life of the country. Textiles sector contributes 14% of industrial production, 4% of GDP and 10.63% of country’s export earnings. It provides direct employment to over 35 million people, which includes a substantial number of SC/ ST, and women. The Textiles sector is the second largest provider of employment after agriculture.
The Union Finance Minister Shri Pranab Mukherjee said that Indian economy will soon revert back to the path of higher growth trajectory. He said that the present downturn is only temporary. The Finance Minister was addressing the fourth meeting of the Consultative Committee attached to the Ministry of Finance during the current fiscal, here yesterday. The subject matter of the meeting was Present State of the Indian Economy and the Roadmap for Future
Insurance companies have come out with an innovative proposition, wherein they would insure the weddings against their postponement of cancellations for certain reasons. The catch is that the insurer will not pay for marriages turning sour due to personal differences between the bride and the groom, and the claims would be entertained only for losses due to external factors like accidents, catastrophes or unintentional man-made disasters or disruptions.
Notification No. 62/2011 – Income Tax S.O. 2903 (E).—Whereas a Protocol amending the Agreement between the Republic of India and the Swiss, Confederation for the avoidance of double taxation with respect to taxes on income with Protocol, signed at New Delhi on the 2nd day of November, 1994, as amended by the supplementary Protocol signed at New Delhi on the 16th day of February, 2000, was signed at New Delhi on the 30th
The Election Commission of India has appointed the IRS Officers given in the enclosed list as its Expenditure Observer for the General Elections to legislative Assembly of States mentioned above. A briefing meeting of Expenditure Observer has been fixed at 12.30 PM on 2nd January, 2012 in Vigyan Bhawan New Delhi. The detailed instructions issued by the Commission , in this regard are enclosed.
Leading Indian Bankers say, the recent volatility in Indian Rupee is a temporary phenomena and the currency will stabilize soon. They said there is no need to press the panic button. Addressing a Panel discussion in Dubai, the CEOs of Bank of Baroda from GCC region, Punjab National Bank, Corporation Bank and the State Bank of India in Dubai, said India’s growth story will continue in the long term despite early blues.
