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Archive: July, 2013

Posts in July, 2013

Rectification U/s. 154 – CBDT procedure for receipt & disposal

July 5, 2013 11222 Views 0 comment Print

INSTRUCTION NO. 3/2013 Hon’ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/2012 dated 14.03.2013 has issued several Mandamuses for necessary action by income-tax Department one of which is regarding maintenance of “Rectification Register” in which details like receipt of applications under section 154 of the IT Act, their processing and disposal are to be maintained. (Reference: Para 16 to 18 of the order).

Delhi VAT – How to make offline Payment of Taxes

July 5, 2013 13799 Views 0 comment Print

The process of offline payment of tax, interest and penalty or any other amount due under the Act. The challan will be filled up on the department’s website (http://www.dvat.gov.in) both for physical/offline and e­payment/online . For physical payment/offline payment, the dealer will present the challan having unique ID, printed from the department’s website and make the payment in cash or through cheque. The detailed process of physical/offline as well as e-payment/online is available on department’s website.

Delhi VAT – Regarding last date for submission of information online in Form DP-1

July 5, 2013 1138 Views 0 comment Print

Government of National Capital Territory of Delhi, in exercise of the powers conferred on me by sub-section(1) read with sub-section (2) and (3) of Section 70 and sub-section (2) of Section 59 of Delhi Value Added Tax Act, 2004, do hereby notify the revised Form DP-1, which is annexed with this notification. Further, the DP- 1 shall be submitted by the dealers as per following revised schedule:

Import of electrical energy will not require authorization

July 5, 2013 781 Views 0 comment Print

The import policy of Electrical Energy under Exim Code 2716 00 00 in Chapter 27 of ITC (HS) 2012, Schedule 1 (Import Policy) is revised from ‘restricted’ to ‘free’. Accordingly, the amended entry under Exim Code 2716 00 00 shall be as under.

Checklist for Registration under MVAT/CST/PT and Central Excise

July 5, 2013 6099 Views 0 comment Print

Atul Kumar A.    PT/VAT/CST 1)      Date on which Turnover limit exceeded [not required in case of Voluntary Registration] 1.      Sales 1.      Date of Sale 2.      Bill No. 3.      Name & Address of the vendor 4.      Name of Commodity 5.      Amount (Rs.) 2.      Purchases 1.      Date of Sale 2.      Bill No. 3.      Name & Address of […]

SEBI – Arbitration Mechanism in Stock Exchanges – Place of Arbitration

July 5, 2013 1122 Views 0 comment Print

Place of Arbitration 8.1 The Stock Exchanges (SEs) having nationwide terminals, shall provide arbitration facility (i.e arbitration as well as appellate arbitration) atleast at all centres specified by SEBI from time to time. However, the SEs having nationwide terminals may provide arbitration facility at additional centres, if SEs so desire. The arbitration and appellate arbitration shall be conducted at the centre nearest to the address provided by Client in the KYC form.

SEBI – Arbitration Mechanism in Stock Exchanges – Investor Service Centres

July 5, 2013 1176 Views 0 comment Print

This Circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and shall come into effect immediately.

Amendment in Double Taxation Agreement with Bangladesh

July 4, 2013 1540 Views 0 comment Print

Notification No. 50/2013 – Income Tax Whereas the annexed Protocol amending the Convention between the Government of the Republic of India and the Government of the People’s Republic of Bangladesh for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as “Protocol”) signed on the 16th day of February, 2013, shall enter into force on the 13th day of June, 2013, being the date of the later of the notifications after completion of the procedures as required by the laws of the respective countries for the entry into force of the Protocol, in accordance with the provisions of Article 3 of the said Protocol.

Salient features of Revised Online Transfer Claim Form For EPFO

July 4, 2013 1177 Views 0 comment Print

SIS Ram Ola Releases Revised Online Transfer Claim Form For EPFO Union Labour & Employment Minister Shri Sis Ram Ola today released Revised Transfer Claim form for EPFO beneficiaries marking this as first step towards launch of online Transfer Claim facilities here in New Delhi. The revised form will have the following salient features: • […]

Conditions to be fulfiled to be notified as a recognised association U/s. 43(5)(e) for Derivative transactions

July 4, 2013 2589 Views 0 comment Print

Notification No. 51/2013 – Income Tax S.O. 2017 (E). -In exercise of the powers conferred by clause (e) of the proviso to clause (5) of section 43 read with section 295 of the Income – tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income – tax Rules, 1962, namely : – 1. (1) These rules may be called the Income – tax (9th Amendment) Rules, 2013. (2) They shall come into force on the date of their publication in the Official Gazette.

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