"26 March 2014" Archive

CBDT notifies undertaking of ‘Pantheon Infrastructure Pvt. Ltd.’ as an industrial park u/s. 80IA

Notification No. 20/2014-Income Tax 26/03/2014

Notification No. 20/2014-Income Tax And, whereas, subsequently the Central Government (Ministry of Commerce and Industry) vide letter No.15/29/2005-IP&ID dated 3rd February, 2014 has withdrawn the said approval granted to the undertaking under the Scheme; Now, therefore, the Central Government, in exercise of the powers conferred by cl...

CBDT authorizes ‘IFCI Ltd.’ to issue tax free bonds up to Rs 430 crores

Notification No. 19/2014-Income Tax 26/03/2014

Notification No. 19/2014-Income Tax CBDT has vide notification No. 19/2014 dated 26.03.2014 reduced the limit for issue of tax free bonds by Indian Railway Finance Corporation Limited (IRFC) to Rs, 8853 crore from earlier limit of Rs. 10,000 crore. The Notification Further Authorised IFCI Limited (formerly known as Industrial Finance Corp...

Delhi VAT – Online filling of information/return by using Digital Signature

Notification No. F.3(21)/Fin(Rev-I)/2013-14/ 26/03/2014

No. F.3(21)/Fin(Rev-I)/2013-14/ - In exorcise of the powers conferred by Section 100A of the Delhi Value Added Tax Act.2004 (Delhi Act 3 of 2005), and to facilitate the dealer/person to submit information/return etc. online by using digital signatures, the Lt. Governor of the National Capital Territory of Delhi,...

CA 2013:Notification of significant sections & schedules wef 01.04.2014

Notification No. S.O. 902(E) 26/03/2014

Further, we would like to mention here that under Chapter IX (Accounts of Companies), Section 130 (Re-opening of Accounts on Court's or Tribunal's order), Section 131 (Voluntary Revision of financial statements or Board's Report) and Section 132 (Constitution of NFRA) have not been notified till date. Also Section 245 (Class Action Suits)...

Sec 154 cannot be resorted for applying sec 115JB of Income Tax Act,1961

ACIT Vs M/s Cardinal Drugs Pvt. Ltd. (ITAT Agra)

In the case of Cardinal Drugs Pvt Ltd.Hon'ble ITAT has observed that there was no scope for the A.O. to have resorted to the provision of Section 154 of the Act for the purpose of enhancing the income of the assessee.by stating as under:- The A.O. on long drawn process of reasoning should not have passed the order under Section154 of the ...

MCA stops Challan, NEFT and Pay Later payment facility till 31st March 2014

Offline payment facility (Challan, NEFT and Pay Later) would be stopped from 26th March 2014 till 31st March (both days inclusive). You are requested to make payment only through online mode (Credit/Debit Card and Net Banking)....

Posted Under: Income Tax |

How to open a Savings Bank Account?

Choose a Bank that has a wide network of branches, ATMs and offers an array of services. You can look up the bank’s website to find the information. Choose an account most suitable to your needs. It could be a Basic Savings account, EasyAccess Accounts, Women’s Savings Account, Youth Account, or a Joint savings account....

Posted Under: Income Tax |

ICAI issues Roadmap to IFRS

The Council of the ICAI, at its last meeting, held on March 20-22, 2014, has finalised the roadmap.  The revised roadmap recommends Ind AS to be implemented for the preparation of Consolidated Financial Statements of listed companies and unlisted companies having net worth in excess of Rupees 500 crore from the accounting year beginning ...

Posted Under: Income Tax |

Scheme of raising ECB for working capital for Civil Aviation Sector to continue till March 31, 2015 – RBI

RBI/2013-14/537 A.P.(DIR Series) Circular No.113 26/03/2014

The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals required, if any, under any other law....

Govt. Fixes limit for investment in Inflation Indexed National Savings Securities

RBI/2013-14/534 DGBA.CDD.No. 5449/13.01.999/2013-2014 26/03/2014

Government of India has vide their Notification dated March 25, 2014 notified that the maximum limit for investment in Inflation Indexed National Savings Securities- Cumulative has been increased to Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for Institutions such as HUFs, Charitable Trusts, Education...

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