"18 September 2013" Archive

Section 10(46) – Income Arising To Rajasthan Electricity Regulatory Commission

Notification No. 69/2013 - Income Tax 18/09/2013

Notification No. 69/2013 - Income Tax - DATED 18-9-2013 - In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Rajasthan Electricity Regulatory Commission, a Commission established by the Government of Ra...

Jurisdiction(Of Assessing Officer) – For The Purpose Of Commodities Transaction Tax Under Chapter VII Of The Finance Act, 2013

Notification No. 72/2013 - Income Tax 18/09/2013

Notification No. 72/2013 - Income Tax - DATED 18-9-2013 Central Board of Direct Taxes hereby authorises the Assessing Officer having jurisdiction in respect of the assessee for the purposes of the Income-tax Act, 1961, to exercise or perform all or any of the powers and functions conferred on, or, assigned to an Assessing Officer for the...

Amendment in Notification No.224/2007 Dated 10-8-2007 – 70/2013 – Dated 18-9-2013 – Income Tax

Notification No. 70/2013 - Income Tax 18/09/2013

Notification No. 70/2013 - Income Tax "Note:- 1. 'Alphabet' mentioned in serial no.2 and 2A of the Schedule means the alphabet, with which the first name of the person begins the prefix titles such as Shri, Smt., M/s etc. shall be ignored for this purpose. 2. In the case of officers of Government Ministries, Departments, Organisations...

Amendment in Notification No.42/2011 Dated 19-8-2011

Notification No. 71/2013 - Income Tax 18/09/2013

Notification No. 71/2013 - Income Tax In the said notification, in Schedule-2, for serial numbers 10, 14, 15, 16 and 18 and the entries relating thereto, the following serial numbers and entries shall respectively be substituted, namely:-...

Materials purchased from unregistered dealers for works contract is liable to tax u/s 4(4) of APVAT Act, 2005

The Andhra Pradesh Sales Tax & VAT Appellate Tribunal, Hyderabad held recently that materials purchased from unregistered dealers and used in the execution of works contract is liable to tax u/s 4(4) of the APVAT Act (Ramky Environ Engineers Ltd., Hyderabad Vs State of Andhra Pradesh 2013 57 APSTJ 1). ...

Posted Under: Income Tax |

Swap Window for attracting FCNR (B) Dollar funds- FAQs

Q. 1. What are the pre-conditions for the FCNR (B) deposits mobilised by a bank for being eligible to be swapped with RBI under the swap window? Ans. Only fresh FCNR (B) deposits mobilized in any of the permitted currencies after September 6, 2013 with a minimum three years maturity and having a lock in […]...

Posted Under: Income Tax |

General Circular No. 16/2013, dated 18/09/2013

Circular No. 16/2013 18/09/2013

It is hereby clarified that with effect from 12.09.2013, the relevant provisions of the companies Act, 1956, which correspond to provisions of 98 sections of the companies Act, 2013 brought into force on 12.09.2013, cease to have effect from that date....

CBDT Notifies Safe Harbour Rules and Forms

Notification No. 73/2013 - Income Tax 18/09/2013

Notification No. 73/2013 - Income Tax 1. (1) These rules may be called the Income-tax (16th Amendment) , Rules, 2013. They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, (A) in Part-II, in sub-part D relating to special cases, after rule 10T, the following ...

Disallowance U/s. 40(a)(ia) – TDS – View favourable to assessee must be adopted

The Income-tax Officer Vs M/s. Theekathir Press (ITAT Chennai): ITA No. 2076(Mds)/2012

We find that the judgment of the Hon’ble Allahabad High Court is in favour of the assessee. At the same time, we find that the orders of the Calcutta High Court and the Gujarat High Court are against the assessee....

Sale and Lease Transactions by Banks are Valid and eligible for depreciation

UTI Bank Limited Vs Assistant Commissioner of Income Tax (ITAT Ahmedabad)

It is an undisputed fact that the income from lease has been considered by Assessee as income. It is also an undisputed fact that the AO has considered the lease entered by the Assessee to be a Finance lease to arrive at the conclusion that the assessee is not entitled to depreciation....

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