"15 January 2014" Archive

S. 272B Penalty is Rs. 10000 per deductor and not per wrong PAN

Commissioner of Income Tax-TDS Vs DHTC Logistics Ltd. (Delhi High Court)

The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There were in all 30706 cases in which the PAN Number was missing or was incorrectly stated....

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Levy of additional tax under Section 7A of the Haryana Value Added Tax Act, 2003 on lump sum paying dealers

Haryana State Government has recently clarified vide Circular No. 41/St-1, Dated:-14.1.2014 that additional surcharge i.e. at the rate of 5% shall be applicable to all the composition dealers registered under Haryana Sales tax except the retailer dealer under composition scheme pursuant to Rule 52....

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Posted Under: Income Tax |

Type Approval Certificate issuing agencies under Policy Condition number 7 and 9 of Chapter 87 of ITC(HS) 2012

Policy Circular No. 12 (RE-2013)/2009-2014 (15/01/2012)

The list of International accredited agencies for issuance of Type Approval Certificate / COP as notified by United Nations Economic and Social Council dated 15th February, 2013 is at Annexure - I (page 318-365) of the document which can be accessed at: http://www.unece.org.fileadmin/DAM/trans/main/wp29/wp29regs/updates/ECE-TRANS-WP.29-3...

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Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Notification No. 02/2014-Customs (N.T.) (15/01/2014)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the ...

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CA Final Exam Nov,13 and CPT Dec,13 – Pass Percentage, Toppers

The Institute of Chartered Accountants of India (ICAI) today announced the following results 1) Chartered Accountants Final Examination held in November, 2013. 2) Common Proficiency Test (Paper Pencil Mode) held on December 15, 2013. Since December 1949, the Chartered Accountancy Examination is held twice in a year. Chartered Accountants ...

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Posted Under: Income Tax |

Exam Dates / Time Table, Centres for CA IPC and CA Final Exam for May 2014

INTERMEDIATE (IPC) EXAMINATION for May 2014 will be held on Group-I: 27th , 29th , 31st May 2014 and 2nd June 2014, Group-II: 4th, 6th and 8th June 2014. CA FINAL EXAMINATION for May 2014 will be held on Group -I: 26th , 28th , 30th May 2014 and 1st June 2014, Group -II: 3rd, 5th, 7th and 9th June 2014....

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Posted Under: Income Tax |

ICAI: Common Proficiency Test (CPT) June 2014 exam date , Centres, time table

Common Proficiency Test will be held on Sunday, 22nd June, 2014 in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre....

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Posted Under: Income Tax |

Understanding Deficit Financing

Deficit financing is that, which, if used responsibly, can lead an economy to prosperity; however, if used thoughtlessly, can do the opposite. It is the tool suggested years ago by known economist John Keynes, and used today throughout the world by various finance ministers of different economies in their budgets....

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Posted Under: Income Tax |

Central Excise – (SSI Exemption Vs. Capital Goods)

Every manufacturer while crossing the threshold limit of SSI Exemption of Rs. 1.5 Crores home sales under Central Excise Law, suddenly start thinking about cenvat credit to be taken on capital goods purchased in current year or in last years....

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Posted Under: Income Tax |

General Circular No. 1/2014, dated 15/01/2014

General Circular No. 1/2014 (15/01/2014)

It is to be noted that the said provisions is in addition to the requirement of the report to be received respectively from the Registrar of Companies and the Official Liquidator under the first and second provisos to Section 394(1). A joint reading of Sections 394 and 394A makes it clear that the duties to be performed by the Registrar a...

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