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Archive: 13 May 2013

Posts in 13 May 2013

Free Live Webinar: Dematerialization of Securities and Recent Amendments

July 2, 2024 1659 Views 0 comment Print

Join our free webinar on July 4th at 4:00 PM to gain insights into the dematerialization of securities and recent amendments. Register now for key updates.

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 3648 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Referencer on Reverse Charge Mechanism

May 13, 2013 7139 Views 0 comment Print

CA Pardeep Kumar Relevant Notifications:-  Notification no. 30/2012 dated 26.06.2012 later updated by notification no. 45/2012 dated 07.08.2012 w.e.f.  01/07/2012 Dual System of Service Tax Payment A. For certain services, service recipients needs to pay 100% Service Tax  – 9 Services B. For certain services, both service recipients  & service providers are liable to pay […]

ICAI postpones paper of IT & SM of Integrated Professional Competence Examination

May 13, 2013 1855 Views 0 comment Print

It is hereby informed that due to unavoidable circumstances the examination of Group – II, Paper – 7 – Information Technology and Strategic Management of Intermediate (Integrated Professional Competence) Examination scheduled on 15th May-2013 stands postponed. The said examination for the candidates will now be held on 24th May – 2013

Notification No. 12 (RE-2013)/2009-2014, Dated: 13.05.2013

May 13, 2013 655 Views 0 comment Print

In exercise of powers conferred under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby makes the following amendment in Chapter 8 of ITC (HS) 2012, Schedule 1 (Import Policy).

No penalty for mere change in head of income

May 13, 2013 3721 Views 0 comment Print

Having heard the submissions of both the sides and on due consideration of the facts of the case, we are of the considered opinion that the transaction in respect of the share trading was duly disclosed at the time of filing of the return. Some of the income was shown as long-tern capital gain and part of the income was also shown as speculative business in shares/scripts trading.

S.14A Addition in Excess of Expenses debited to P/L a/c not permissible

May 13, 2013 2324 Views 0 comment Print

We find that the AO has made disallowance on the basis of Rule 8D of the Income Tax Rules, 1962, but no disallowance can be made or sustained in excess of the expenses debited in the profit & loss account.

SEBi warns India Infoline to be careful and cautious in conduct of its stock broking activity

May 13, 2013 699 Views 0 comment Print

Shri S. Raman, Whole Time Member, SEBI has passed an order dated May 13, 2013, in the matter of inspection of M/s. India Infoline Limited, warning the stock broker M/s. India Infoline Limited to be careful and cautious in the conduct of its stock broking activity and to adhere to and comply with all the […]

DGCEI detects duty evasion by CPC (Copper Pthalocyanine Crude) Blue manufacturers in Gujrat

May 13, 2013 1665 Views 0 comment Print

Directorate General of Central Excise Intelligence (DGCEI), Zonal Unit Ahmedabad’s Vapi Regional Unit has detected a major modus operandi of Central Excise duty evasion and is investigating the same against various CPC (Copper Pthalocyanine Crude) Blue manufacturers operating from Ahmedabad, Vadodara, Ankleshwar and Vapi area.

SEBI clarification on ESOS and ESPS Scheme

May 13, 2013 2204 Views 0 comment Print

SEBI vide Circular No. CFD/DIL/3/2013 dated January 17, 2013 made amendments to Equity Listing Agreement and SEBI (Employee Stock Option Schemes and Employee Stock Purchase Schemes) Guidelines, 1999 (SEBI (ESOS and ESPS) Guidelines, 1999).

Proposal to align gold import regulations with other import regulations

May 13, 2013 892 Views 0 comment Print

The nominated agency/bank may import gold on outright purchase basis subject to the condition that although ownership of the gold shaft be passed on to the importer at the time of import itself, the price of gold shall be fixed later, as and when the importer sells the gold to the users.

Government notifies revised rates for International Posts

May 13, 2013 340 Views 0 comment Print

NOTIFICATION NO. SO 1211(E) [NO.43-1/2012-DA], DATED 13-5-2013 In exercise of the powers conferred by section 21 of the Indian Post Office Act, 1898 (6 of 1898), the Central Government hereby makes the following rules further to amend the Indian Post Office Rules, 1933, namely:- 1. (1) These rules may be called the Indian Post Office […]

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