DBOD.CO.FSD.No. /24.01.026/2012-13 -
28/06/2013
As per extant instructions, banks are allowed to market insurance and mutual fund products as agents of other entities on non-risk participation basis. It has been observed that in some cases, banks did not have clear segregation of duties of marketing personnel from other branch functions, and bank employees were directly receiving incen...
The assessment of the Partnership firms under the Income tax Act, 1961 has very specific characteristics and the “Remuneration and interest to partners” are two very specific figures without which one cannot calculate the tax liability of a partnership firm. ...
Notification No. 69/2013-Customs (N.T.) -
28/06/2013
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do...
To sum up, the Commissioner of Commercial Tax being so placed in the hierarchy of the department can issue instruction to his subordinates but in the administrative field only. There is nothing wrong if the Commissioner of Commercial Tax issue such circulars which bring to the notice of his subordinates things likes changes in legislation...
The Commissioner of Income Tax Vs Fujistu Optel Ltd. (Madhya Pradesh High Court at Jabalpur) -
Brief facts of the case are that the respondent is a joint venture with Government of Madhya Pradesh, declared its total income nil in its return filed for the assessment year 2001-2002 and 2002-2003. The book profit was calculated under section 115JB of the Act....
M/s Kinfra Exports Promotion Industrial Parks Ltd. Vs The Deputy Commissioner of Income-tax (ITAT Cochin) -
Issue - The facts relating to the two issues are stated in brief. The assessee is a Kerala State owned public limited company, engaged in the business of providing infrastructural facilities to industries. It runs an industrial park at Kakkanad, Kochi....
Notification No. 68/2013-Customs (N.T.) -
27/06/2013
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC), being satisfied that it is necessary and expedient so to do...
Circular No. 24/2013-Customs -
27/06/2013
The Board has noted that while majority of import data in National Import Data Base shows that 'elements of Filters' are being classified under Tariff Item 84219900 as parts of Filters...
RBI/2012-13/559 RPCD. GSSD. CO. No 81/ 09.01.03/2012-13 -
27/06/2013
The Ministry of Rural Development, Government of India has launched National Rural Livelihood Mission (NRLM) by restructuring Swarnajayanti Gram Swarozgar Yojana (SGSY) replacing the existing SGSY scheme, effective from April 1, 2013....
RBI/2012-13/555 DBOD.BP.BC.No.105/21.04.132/2012-13 -
27/06/2013
As these bonds are to be acquired by banks under special circumstances and these have two distinct features, viz., (i) issued and serviced by State Discoms with the guarantee of the respective State Governments during the initial period and (ii) issued and serviced by the State Governments during the latter period, the following methodolo...