"24 May 2013" Archive

Jai Steel (India) Vs. ACIT reported in (2013) 259 CTR (Raj) 281

Jai Steel (India), Jodhpur Vs. Asst. Commissioner of Income Tax, Jodhpur (Rajasthan High Court at Jodhpur)

This appeal by the assessee is directed against the order dated 19.08.2009 passed by the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur ('ITAT') in relation to the assessment proceedings concerning the respondent assessee for the assessment years 2001- 02, 2002-03 and 2000-01....

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Infrastructure Financing – Need of More Effective Ways

Infrastructure sector in India has not been able to perform to its full capacity, majorly due to the Government red tapes, lack of funds and very long gestation period in completion of the projects. With introduction of Public-Private-Partnerships (PPP), this scenario is expected to change....

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Posted Under: Income Tax |

Solution to error '0 PDF files generated successfully' while generating TDS certificates

While generating Form16 16A, if you are getting a message ‘0 PDF files generated successfully’, please download the updated version of the PDF converter utility 1.3L. Procedure to Download and install utility Download the PDF Generation Utility by logging in to TRACES. Click on ‘Requested Downloads’ under ‘Downloads’ m...

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Posted Under: Income Tax |

Rupee Export Credit – Interest Subvention extended to 107 more tariff items in Textile & engineering good sector

RBI/2012-13/507 DBOD.Dir.BC.No.94/04.02.001/2012-13 (24/05/2013)

It has been decided to widen the interest subvention scheme to the following sectors for the period April 1, 2013 to March 31, 2014, on the same terms and conditions: ITC(HS) and Textiles good to 6 tariff lines as per the list given in the Annex –I. Additional 101 tariff lines in engineering good sector in addition to the existin...

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Imposed Service tax on AC-restaurants creates confusion

Indian Budget is one of the most imperative parts of the country’s administration because it ensures the systematic revenue for government which is used in economic growth by carrying out several activities, transactions and projects. As usual, new budget is prepared every year in order to suit the present condition of the country. Tax ...

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Posted Under: Income Tax |

Customs permission for transhipment of goods/containers from a Gateway Port to a Container Freight Station (CFS) of another Customs Station. – reg.

Circular No. 22/2013-Customs Duty (24/05/2013)

Attention is invited to Board’s Circular 18/2009- Cus dated 08.06.2009 which disallows direct movement of consignments from Gateway Port to CFS of another Customs Station. It is only in exceptional circumstances on account of congestion etc, the jurisdictional Commissioners are empowered to allow the movement of consignments from Gatew...

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Income Tax Department to create 20,751 additional posts

The Union Cabinet today approved the proposal for creation of 20,751 additional posts in the Income Tax Department in various cadres that is 1349 additional posts in the IRS cadre and 19,402 additional posts in the non-IRS cadres. This will help the Income Tax Department collect increased revenue and provide better tax payers services. ...

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Posted Under: Income Tax |

Indian Bank Manager sentenced after 18 year of Fraud

The Special Judge for CBI Cases, Chennai(Tamil Nadu) has convicted Shri M.Gopalakrishnan, the then Chairman-cum-Managing Director & Shri A.V. Shanmugasundaram, then Zonal Manager, both of Indian Bank, Chennai and Shri S. Dhanasingh, then Managing Director M/s. Akilam Constructions Pvt., Ltd., Chennai in a Bank cheating case....

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Posted Under: Income Tax |

Excise Duty free Sale of Goods Manufactured in India Allowed at Duty free Shops Located at International Airports

Excise Duty free Sale of Goods Manufactured in India Allowed to International Passengers or Members of Crew Arriving from Abroad and to Passengers Going Out of India at The Duty free Shops Located at International Airports of the Country...

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Posted Under: Income Tax |