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Archive: 2013

Posts in 2013

Import of electrical energy will not require authorization

July 5, 2013 760 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 6066 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 1107 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 1149 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 1534 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 1165 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 2571 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.

Income-tax Rectification Petition Online

July 4, 2013 30190 Views 28 comments Print

Getting notice from income-tax department becomes common today. Thanks to technological improvements and automated world of software coding. Often these software coding require modifications (rectification) that triggers mismatches and issues in the CPC Processing of income-tax returns. We could see that tax payers are saying that they are not getting the refund as claimed, or their tax payment were not considered by CPC or not tagged in their accounts on account of the system being followed in the tax mechanism.

Procedure to avail One Day Liquor License in Maharashtra

July 4, 2013 38262 Views 2 comments Print

New procedure is being Implementation to avail One Day Liquor License As per State Directorate of Accounts and Treasuries Maharashtra, now it is semi online manual but in coming months it will be online.

Risk Management and Inter-Bank Dealings- Liberalization of documentation requirements for resident entities in Indian Forex Market

July 4, 2013 574 Views 0 comment Print

In view of the recommendations of the Technical Committee on Services / Facilities for the Exporters (Chairman: Shri G. Padmanabhan, Executive Director, Reserve Bank of India) regarding rationalization of the documentation process

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