It has further been decided that all Letters of Credit (LC) to be opened by Nominated Banks / Agencies for import of gold under all categories will be only on 100 per cent cash margin basis. Further, all imports of gold will necessarily have to be on Documents against Payment (DP) basis. Accordingly, gold imports on Documents against Acceptance (DA) basis will not be permitted. These restrictions will however not apply to import of gold to meet the needs of exporters of gold jewellery.
Review of the policy on foreign direct investment in the Multi Brand Retail Trading Sector- amendment of paragraph 6.2.16.5(2) of ‘Circular 1 of 2013-Consolidated FDI Policy’
The Government has decided to incorporate the following definition of ‘group company’ in the FDI Policy contained in ‘Circular 1 of 2013 – Consolidated FDI Policy’, effective from 05-04-2013.
In the Chart given below Author has compiled the TDS / TCS rates as applicable for Assessment year (AY) 2014-15 or Financial Year (FY) 2013-14. In this Year Government has made TDS applicable on Compensation / Consideration on transfer of certain immovable property other than agricultural land (w.e.f. 01 .06.2013).
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in Appendix 5 of the Handbook of Procedures (Vol. I) with immediate effect.
In providing the clarifications, an attempt has been made to assist potential applicants in understanding the terms of the guidelines. The clarifications are specific to the queries and must be read in the overall context of the guidelines. Q.1. Is it compulsory for the NOFHC to have individuals as promoters? Q.2. Where the promoter of […]
Q 1. How will the daily changes in the inflation adjusted principal be accounted for, regarding a. MTM b. Interest c. Book Value Ans: The valuation criteria as specified for HTM, AFS and HFT would apply. Valuation (para nos. given are from our MC on investments) 3.1 Held to Maturity i) Investments classified under HTM […]
Whether failure on part of AO for examining truly and fully all the material facts by the assessee could lead to reassessment and also mere information regarding income escapement can be considered valid for the purpose of sec. 147?
Merely because a claim (per the return of income) is a legal claim, or has a legal aspect to it – which would be in each case – the same by itself cannot be a cause for non levy of penalty in every case, as where there is no valid basis for the same (i.e., the legal claim).
I am directed to say that the eleven posts at the level of Under Secretary/ ten posts at the level of Senior Technical Officer/ fourteen posts at the level of Technical Officer/ two posts of Senior Analysts in CBEC under the Revenue Headquarters which are lying vacant are proposed to be filled up from amongst the suitable officers of IRS (C&CE) cadre.
