CBDT has Vide Order No. 65 dated 3.4.12 passed in continuation to Order No. 8 of 1012 dated 12.1.2012 the to granted Proforma Promotion the several Additional Commissioner of Income Tax, who are on deputation to ex-cadre posts mentioned against each of them to the grade of Commissioner of Income Tax, CBDT in the Pay Band-4 Rs. 37,400-67,000/- Plus Grade Pay of Rs. 10,000/- w.e.f. 17.1.2012 i.e. the date on which their junior was promoted.
In case of individual / partnership firms (including LLPs) whose aggregate value from one or more premises is 50 lakhs or less in previous financial year , the service provider may pay tax on receipt basis upto 50 lakhs taxable value. Beyond 50 lakhs, service tax will have to be paid on the mercantile basis on the basis of issue of invoice.
The Hon’ble Gujarat High Court in the case of N.N. Desai Charitable Trust (supra) while deliberating upon the scope of enquiry for the purpose of granting of recognition u/s.80G of the Act opined that it does not envisage the commissioner to act as an assessing authority because the actual assessment of institution would not ultimately effect the claim for deduction u/s. 80G qua the donors.
Vide Order dated 29.3.2012 passed in Pursuance of the consultations of the collegiums of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Income Tax Appellate Tribunal have been transferred, in public interest, in the same capacity to the Bench(es) of the Income tax Appellate Tribunal as shown against their names.with effect from the forenoon of 9th April 2012:-
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All the dealers are requested to use latest templates for uploading their Returns. (Version1.2.5 for MVAT Returns and Version 1.2.6 for CST Returns.) Ø There is no change in the due dates, for filing the Returns for the period ending on 31.3.2012, in case of dealers liable to file e-704. The dealers liable to file e-704 are requested to upload the Returns as per the due date.
General Circular No: 32/2011 dated 31/05/2011, 66/2011 Dated 4/10/2011, 70/2011 dated 15.12.2011 and 04/2012 dated 09.03.2012, Ministry of Corporate Affairs has mandated providing Income-tax Permanent Account Number (Income-tax PAN) for obtaining Director Identification Number (DIN) in case of Indian nationals.
ITR 1 Who cannot use this Return Form? This Return Form can not be used by an individual whose total income for the assessment year 2012-13 includes, (a) Income from more than one house property; or (b) Income from Winnings from lottery or income from Race horses; or
Income tax Department has recently issued Income tax notification 14 dated 28.03.2012 by which it has specified that Individuals who is a resident and has (i) assets (including financial interest in any entity) located outside India; or (ii) signing authority in any account located outside India can not file his Return in ITR-1 Sahaj and have use other forms i.e. ITR 2 , ITR 3 or ITR 4 as applicable.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendment, with immediate effect, in Notification No. 61(RE-2010)/2009-14 dated 20.07.2011.2.
