"06 November 2013" Archive

Rule 46A – Additional Evidences cannot be accepted without allowing AO a reasonable opportunity to examine and rebut the said evidences

Income Tax Officer Vs Mrs. Anvita Abbi (ITAT Delhi)

Admittedly, learned CIT(A) admitted the fresh evidences but did not allow any opportunity to the Assessing Officer for examining those evidences or furnishing any evidence in rebuttal as required by sub-rule (3) of Rule 46A. ...

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SEBI : Annual System Audit of Stock Brokers /Trading Members

CIR/MRD/DMS/34/2013 06/11/2013

The stock exchanges should ensure that system audit of stock brokers / trading members are conducted in accordance with the prescribed guidelines enclosed in this circular....

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Notification No. 87/2013 – Income Tax Dated 6/11/2013

Notification No. 87/2013 - Income Tax 06/11/2013

Notification No. 87/2013 - Income Tax S.O. 3391 (E).—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 Tripura State AIDS Control Society a body constituted by the ...

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Notification No. 88/2013 – Income Tax Dated 6/11/2013

Notification No. 88/2013 - Income Tax 06/11/2013

Notification No. 88/2013 - Income Tax S.O. 3393(E).—In exercise of the powers conferred by clause (c) of sub-section (2) of Section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ‘Archery Association of India’, New Delhi as an association for the purposes of said ...

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Notification No. 89/2013-Income Tax Dated 6/11/2013

Notification No. 89/2013-Income Tax 06/11/2013

Notification No. 89/2013-Income Tax In the notification of Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) vide number S.O. 3251(E), dated the 25th October, 2013 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 25th October, 2013...

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WoS of foreign banks to exempt from capital gains tax: RBI

Press Release : 2013-2014/1064 06/11/2013

Government of India has inserted, by the Finance Act, 2012, a new Chapter XII-BB titled- ‘Special Provisions relating to Conversion of Indian Branch of a Foreign Bank into a Subsidiary Company’ in Income Tax Act, 1961, inter alia, exempting capital gains arising from such conversion from capital gains tax, with effect from April 1, 20...

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CBI has no legal existence, Creation of CBI illegal – HC

Sh Navendra Kumar Vs Union of India & Another Respondents (Guwahati High Court)

(i) Whether Central Bureau of Investigation, popularly called CBI, is a constitutionally valid police force empowered to investigate crimes? (ii) Could a police force, empowered to investigate crimes, have been created and constituted by a mere Resolution of Ministry of Home Affairs, Government of India, in purported exercise of its execu...

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Delhi VAT – Clarifications for filing returns online

Circular No. 22 of 2013-14 06/11/2013

Return forms DVAT-16 and Form1 along with annexures and DVAT-30 & 31 have been amended vide notifications issued on 20-09-2013. Thus, the second quarter return of the current year is the first return to be filed after modifications....

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RBI : Banks to ensure Timely Issue of TDS Certificate to Customers

RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 06/11/2013

It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely....

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Can A Company Give Loan to Group Companies under Companies Act, 2013?

Many corporate including Pvt Ltd Cos have other related group companies and they transfer money to & from other company as and when require. Stop doing this, even retrospectively from 12th September, 2013 as these can be treated as interest free loan u/s 185 of new company law....

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