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Archive: 23 January 2014

Posts in 23 January 2014

Export of Cotton Yarn eligible for ‘Incremental Export Incentivisation Scheme’ for FY 2013-14

January 23, 2014 739 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in the Foreign Trade Policy (FTP) 2009-14 with immediate effect.

Tax Audit applicable to Partners on Income from Partnership Firm

January 23, 2014 29372 Views 0 comment Print

The short issue in this appeal is whether or not penalty under section 44AB will also be attracted in the case in which the professional income of the assessee received from partnership firm of Chartered Accountants is taxable under the head “income from business or profession

40 officers of Customs & Central Excise Department been selected for Presidential Award

January 23, 2014 1474 Views 0 comment Print

Every year, the officers of the Customs & Central Excise Department are considered for grant of Presidential Award of Appreciation Certificate for ‘exceptionally meritorious service rendered at the risk of life’ and for Presidential Award of Appreciation Certificate for ‘specially distinguished record of service’ on their achieving and maintaining excellence in the discharge of their duties. These awards are announced on the eve of Republic Day.

How RBI will withdraw old series of Banknotes issued prior to 2005

January 23, 2014 2222 Views 0 comment Print

As you are aware, RBI has been following a policy of phasing out of certain series of banknotes from time to time. It has now been decided that all old series of banknotes issued prior to 2005 will be completely withdrawn from circulation.

How to Recognise bank notes issued prior to 2005

January 23, 2014 5946 Views 0 comment Print

Banknotes issued prior to 2005 to be withdrawn: RBI Advisory The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange […]

Leave taken by CA Students during exams not to be included in the calculation of maximum Leave

January 23, 2014 97475 Views 21 comments Print

The brief Summary of Leave for article clerk of CA students (Regulation 59) is given below for reference. CA students should be aware that during the period of CA examination (including the intervening holidays) are entitled to be present and should not be marked Leave.

Penalty u/s 45 (3A) of the Gujarat Sales Tax Act, 1969 is not mandatory.

January 23, 2014 8549 Views 0 comment Print

In this matter, the Hon ’ble Gujarat High Court has held that prima facie it is of the view that penalty u/s 45 (3A) of the Gujarat Sales Tax Act, 1969 is not mandatory. However, in the opinion of the court, the question as to whether once the authority decides to impose penalty

GVAT : Penalty without issuing show cause notice cannot sustain – HC

January 23, 2014 5132 Views 0 comment Print

In this matter, the Hon ’ble Gujarat High Court has remanded the issue of not allowing input tax credit on purchases affected through retail invoices to Tribunal for fresh adjudication. For penalty imposed u/s 34 (12) of The GVAT Act, 2003

ICAI : Online Registration Portal for ITT, OP and GMCS Courses

January 23, 2014 26923 Views 0 comment Print

The application provides the facility for online process for registration, selection of batch/location, payment of course fee through payment gateway, filling up online feedback form and also for generating online certificates to the participants of ITT/ OP/GMCS Courses.

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