Special Provisions in respect of International Workers included in the Employees’ Provident Funds Scheme, 1952 as well as Employees’ Pension Scheme, 1995 have been given effect from 15t October, 2008. Subsequently, certain amendments have also been carried out vide notification dated 11th September, 2010 and the same were circulated vide Head Office letter No. Coord/5(15)/2009/IW/07733 dated 25/26th November, 2010. In pursuance of these amendments detailed instructions were issued vide this office letter No.IWU/7(6)2007/41959 dated 8th September, 2009 and No.IWU/7(11)/Compliance dated 30thAugust, 2011.
The Income Tax Department is working on a comprehensive strategy to deal with corruption within the organisation. The work relating to identification of potential areas of corruption related to the organisational activities and development of an action plan for its mitigation has commenced, the Central Board of Direct Taxes (CBDT) said.
In the present case, the land owned by the assessee comes within the purview of urban area and the assessee is carrying on agricultural activities on the same. There is nothing on record to show that construction of building on assessee’s land is prohibited.
In instant case, the Assessing Officer had proposed to tax the amount as capital gains, as against the assessee’s claim that the same is not taxable. Accordingly, having recorded the fact that the assessee otherwise qualified for such set off, the set off should not have been disallowed on the ground that the same was not claimed in the return of income. He maintained that the assessee was well within her right to make claims during the assessment proceedings and it does not amount to filing revised computation.
The term ‘agriculture’ has not been defined in the Act. One must necessarily fall back upon the sense in which it is understood in common parlance. ‘Agriculture’ in its root sense means ‘Agar’ a field and ‘culture’, cultivation of a field which of course implies expenditure on human skills and labour upon land. For growing coconut trees one has to perform basic essential operations which involve expenditure of human skill and labour upon the land.
First Stage Dealer means a dealer, who purchases the goods directly from (i) the manufacturer under the cover of an invoice issued in terms of the provisions of Central Excise Rules, 2002 or from the depot of the said manufacturer, or from premises of the consignment agent of the said manufacturer or from any other premises from where the goods are sold by or on behalf of the said manufacturer, under cover of an invoice.
The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a stamp paper, to use it within six months. Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
The Authority has issued standard instructions and guidelines applicable for approval/renewal of agents training institutes vide Ref: IRDA/AGTS/CIR/GLD/269/12/2011, dated 7th December, 2011.
