Assessing Officer ignored the very fact that there was a temporary lull in the business of the assessee and it was not a cessation of business of activity. Therefore, the Assessing Officer disallowed the expenses incurred by the assessee for continuation of its business which deserve
The newly introduced provision, briefly stated, mandates withholding of 1 % tax (TDS) by a transferee of an immovable property, on payment of consideration to transferor, if the consideration exceeds 50 lakhs rupees.
Shri Kapil Sibal, Union Minister for Communications and IT released the National Cyber Security Policy, here today. Speaking on the occasion, he underlined that this policy should be seen as about protecting of information, such as personal information, financial/banking information, sovereign data etc.
Please refer to paragraph 99 of the Monetary Policy Statement for 2013-14 (Extract annexed). Unhedged foreign currency exposures of the corporate are an area of concern not only for individual corporates but also to the entire financial system. Corporates who do not hedge their foreign currency exposures can incur significant losses due to exchange rate movements. These losses may reduce their capacity to service the loans taken from the banking system and thereby affect the health of the banking system.
Please refer to the paragraph 77 (extract enclosed) of the Monetary Policy Statement for 2013-14 announced on May 3, 2013. It was indicated therein that the final guidelines on capital requirements for banks’ exposures to central counter parties, based on the interim framework of the Basel Committee on Banking Supervision (BCBS), will be issued by end-June 2013.
We have considered the provisions of Section 194J of the Income Tax Act, in the light of Circulars dated 28.04.2008 and 30.06.2008. The words, “any sum paid”, used in Section 194J of the Act, relate to fees for professional services, or fees for technical services.
Commissioner of Sales Tax, Maharashtra State hereby provides that the dealers, who are liable to file return as per the provisions of clause (d) of sub-rule (1) of rule 40 of the Maharashtra Value Added Tax Rules, 2005 shall electronically upload the return in Form 424 provided on the web-site of the Sales Tax Department.
ORDER NO. 119 of 2013 Consequent upon Orders No. 106 & 109 of 2013, the following transfers/postings in the grade of Commissioner / Director of Income Tax are hereby ordered with immediate effect and until further orders:
Receiving of Income tax returns in Aayakar Sewa Kendras (ASKs) – regarding. As you are aware Ayakar Sewa Kendras (ASKs) are functional at 132 stations all over India. Return receipt facility through Sevottam Software is also available at all these ASK Centres. In view of these you are requested to ensure the following;
The Reserve Bank of India in all received 26 (twenty six) applications. The names of the applicants are: Aditya Birla Nuvo Ltd., Mumbai. Bajaj Finserv Ltd., Pune. Bandhan Financial Services Pvt. Ltd., Kolkata. Department of Posts, New Delhi. Edelweiss Financial Services Limited, Mumbai.
