"17 March 2012" Archive - Page 10

Extention in time limit for issue of notice to person who is treated as agent of a non-resident

Budget 2012- Amendments are proposed in section 149, to extend time limit for issue of notice in case of a person who is treated as agent of a non-resident, the time limit presently prescribed of two years be extended to six years. It is also clarified that these provisions being of procedural nature shall also be applicable for any asses...

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Posted Under: Income Tax |

S. 1945 CBDT may specify taxability of Foreign Payment, Amount Taxable and Tax Deductible

It is proposed to amend section 195 to provide that the Board may, by notification in the Official Gazette, specify a class of persons or cases, where the person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum, whether or not chargeable under the provisions of this Act, shall make an applica...

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Posted Under: Income Tax |

Retrospective amendment in S.9(1)(vi) to clarify that consideration for use or right to use of computer software is royalty

(i) To amend section 9(1)(vi) to clarify that the consideration for use or right to use of computer software is royalty by clarifying that transfer of all or any rights in respect of any right, property or information as mentioned in Explanation 2, includes and has always included transfer of all or any right for use or right to use a c...

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Posted Under: Income Tax |

Govt amends IT Act w.e.f. 01.04.1962 to bring deals like Vodafone Under Tax Net

It is, proposed to amend the Income Tax Act in the following manner:- (i) Amend section 9(1)(i) to clarify that the expression ‘through’ shall mean and include and shall be deemed to have always meant and included by means of, in consequence of or by reason of. (ii) Amend section 9(1)(i) to clarify that an asset or a capital as...

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Posted Under: Income Tax |

Notification No. 18/2012–Central Excise (N.T.) Dated- 17th March, 2012

Notification No. 18/2012–Central Excise (N.T.) (17/03/2012)

Notification No. 18/2012 – Central Excise (N.T.) In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely : -...

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Amends Notification No.20/2001 CE (NT) dated 30.04.2001,To substitute Section 11AB with section 11AA

Notification No. 17/2012-Central Excise (N.T.) (17/03/2012)

Notification No. 17/2012-Central Excise (N.T.) In exercise of the powers conferred by sub-section (2) of section 3 of the Central Excise Act, 1944 (1 of 1944), the Central Government, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 20/2001...

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Notification No. 16/2012-Central Excise (N.T.) Dated- 17th March, 2012

Notification No. 16/2012-Central Excise (N.T.) (17/03/2012)

Notification No. 16/2012-Central Excise (N.T.) G.S.R. (E).- In exercise of the powers conferred by sub-rule (3) of rule 19 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification No 42/2001- CE (NT), dated the 26th June 2001, published in the Gazette of I...

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Amends Notification No.31/2007 CE (N.T.) dated 02.08.2007 To substitute Section 11AB with section 11AA

Notification No. 15/2012-Central Excise (N.T.) (17/03/2012)

Notification No. 15/2012--Central Excise (N.T.) In exercise of the powers conferred by sub-rule (3) read with sub-rule (2) of rule 19 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following amendment in the notification No.31/2007-Central Excise (N.T.), dated the 2nd August, 2007,namely:-...

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Notification No. 14/2012 – Central Excise (N.T.); dated: 17.03.2012

Notification No. 14/2012-Central Excise (N.T.) (17/03/2012)

Notification No. 14 /2012--Central Excise (N.T.) G.S.R. (E).- In exercise of the powers conferred by sub-rule (3) of rule 19 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification No.45/2001 -Central Excise (N.T.), dated the 26th June, 2001 published in t...

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Amends Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacturer of Excisable Goods) Amendment Rules, 2012

Notification No. 13/2012-Central Excise (N.T.) (17/03/2012)

Notification No. 13/2012- Central Excise (N.T.) In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2001, namely :...

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