IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Planning), Directorate of Industries and Commerce, GoK, signed the MoU. The MoU provides assurance to GoK and investors that IDBI Bank would support the bankable proposal from various Industries in the state.
Entry Number 38 in the ITC(HS) Classifications of Export & Import Items has been bifurcated and an entry number 38.01(new entry) Skimmed Milk Powder is introduced. Export of new entry namely Skimmed Milk Powder has been made free.
Amendments in the Vishesh Krishi and Gram Udyog Yojana (VKGUY) of Chapter 3 of Foreign Trade Policy 2009-14 – Appendix 37A of Handbook of Procedure (Vol. I). In Appendix 37A of Vishesh Krishi and Gram Udyog Yojana (VKGUY), the following product is added in Table 2 for export made with immediate effect:
Request for Assignment of Concurrent Audit- Central Bank has hosted online form for Assignment Of Concurrent Audit to CA Firms in India. Online Applications can be submitted upto 17/06/2012 only.
Ordinarily, where executant himself is unable, for any reason, to execute the document, he would appoint his kith and kin as his power of attorney to complete the transaction on his behalf. If one does not have any kith or kin who he can appoint as power of attorney, he may execute the conveyance himself. The legislative idea behind Clause (d), Article 45 of Schedule 1-A is to curb tendency of transferring immovable properties through power of attorney and inappropriate documentation.
As per the amended law, development of infrastructure facility is sufficient for claim of deduction under section 80-IA(4) with effect from assessment year 2002-03. The relevant assessment year under consideration is also assessment year 2002-03 for which amended provisions of law is applicable.
COMMON ERRORS NOTICED WHILE FILING OR UPLOADING THE RECTIFICATION XML/FILE IN WEBSITE (Submit your rectification request screen) LEADING FAILURE TO UPLOAD OF RECTIFICATION REQUEST. • Assessees don’t write the communication reference number of the CPC order which is sought to be rectified, in the specified format in online rectification screen(Submit your rectification request screen) while applying for online rectification.
Step 1: Make sure you have received an intimation under section 143 (1) from CPC Bangalore for the E-returns filed by you for AY 2009-10 or later. Step 2: Carefully examine the intimation to see if the computation by CPC is correct even if different from what was expected by you. It may be that you may have computed tax liability or interest incorrectly. Take the help by using departmental excel utility available in e-filing website.
As far as trade advances are concerned, there is no question of applicability of the provisions of section. 194. On facts, the Commissioner (Appeals) collected the details of advances categorized into trade advances and processing charges. Though he restricted the applicability of TDS provisions only to cash advances,
The assessee is a company engaged in the business of supply of LPG to its customers. It supplied the LPG cylinders to its customers on lease basis and collected security deposits. The customers can return the cylinders and take back the security deposits. It was observed by the Assessing Officer that the customers have returned the cylinders and taken back the security deposits.
