"04 October 2013" Archive

Public Notice No. 30 (RE-2013)/2009-2014, Dated: 04.10.2013

Public Notice No. 30 (RE-2013)/2009-2014 04/10/2013

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-2014 and Paragraph 1.1 of Handbook of Procedures (Vol. I), the Directorate General of Foreign Trade hereby suspends the following SIONs....

Punjab VAT – Procedure for Payment of Advance Tax

NA 04/10/2013

Just like the dealers used to do in the case of Entry Tax, they will be able to deposit the Advance Tax at the ICCs. For this an entry will be made in the computer system at the ICC. In addition to above, the dealers will be able to deposit the Advance Tax in the office of AETC as well as through internet banking....

CMA President's Communique for October 2013

Students, while taking admission/registration/enrolment to the Foundation/ Intermediate/Final Course, need not to take any hazards and spend time for preparing Demand Drafts w.e.f. 1st October, 2013 and take the advantage of hassle-free admission by depositing their fees either online through Debit / Credit Cards ...

Posted Under: DGFT |

Mutual fund distributors allowed to facilitate transaction in MF schemes through Stock Exchange Infrastructure

Circular No. CIR/MRD/DSA/32/2013 04/10/2013

In order to enable the mutual fund distributors also to leverage the stock exchange platform so as to improve their reach and mutual fund distributions, it has been decided to allow mutual fund distributors to use recognised stock exchanges' infrastructure to purchases and redeem mutual fund units directly from Mutual Fund/Assets Managem...

HRA exemption allowable on Rent Paid to wife

Bajrang Prasad Ramdharani Vs Asst. CIT (ITAT Ahmedabad)

Requirement of the section 10(13A) is that any allowance (by whatever name called) granted to an assessee by his employer to meet expenditure actually incurred on payment of rent in respect of residential accommodation occupied by the assessee, to such extent as may be prescribed. ...

TDS Credit despite non reflection in 26AS & Interest on Interest

Citicorp Finance (India) Limited Vs The Addl. Commissioner of Income Tax (ITAT Mumbai)

ITAt held on two issues 1) Grant of TDS Credit despite non reflection in 26AS Statement and Non Production of TDS Certificate 2) Grant of Interest on Interest of income Tax Refund...

Sec. 234D – Applies to A.Y. commencing before 01.06.2003 if Assessment is not completed on that date

Commissioner of Income Tax-I Vs M/s. Reliance Energy Ltd. (Supreme Court of India)

Provisions of section 234D of the Income Tax Act, 1961 shall also apply to an assessment year commencing before the 1st day of June, 2003 if the proceedings in respect of such assessment year is completed after the said date....

Delhi Tax Compliance Achievement Scheme, 2013 – Highlights

Where assessment order has NOT been issued, the declarant (including trader, manufacturer, contractor, builder, leasing company, etc.) shall pay only declared tax (for the period up to 31.03.2013); and get immunity from interest, penalty and prosecution. Circumstances, such as,-...

Posted Under: DGFT |

Salient Features of Recent Amendments in DVAT Rules

1. Amendment of Rule 3: (i) To address the various queries and difficulties of the works contract dealers, including builders, the rule has been suitably amended to clarify how taxable turnover shall be calculated and what all deductions could be made from turnover....

Posted Under: DGFT |

Salient/Additional Features of Revised Composition Scheme for Work Contract Dealers

Normally a works contractor can opt for the composition scheme till April 30 of a financial year but in 2013-14, he can again do so for third and fourth quarter by filing Form WC-01 till October 31, 2013. The Composition dealer shall be eligible to opt for only one of the scheme i.e. Scheme A or Scheme B for all categories of works contra...

Posted Under: DGFT |

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