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Archive: March, 2014

Posts in March, 2014

CBEC promotion to Assistant Commissioners for years 2002-2004

March 20, 2014 1489 Views 0 comment Print

The Board is in the process of finalizing a proposal for holding DPC for ad-hoc promotion to the grade of Commissioner for the vacancy year 2013-14 and Joint Commissioner for the vacancy year 2014-15.

S. 147 Disclosure of 2G Spectrum Report not mandatory, if AO Furnished material on which he recorded his satisfaction

March 20, 2014 1791 Views 0 comment Print

Recently Delhi High Court has in the case of Acorus Unitech Wireless Pvt. Ltd vs. ACIT held that The law only requires that the information or material on which the AO records his or her satisfaction is communicated to the asseseee, without mandating the disclosure of any specific document.

CBDT Notifies Andhra Pradesh State AIDS Control Society’ for exemption U/s 10(46)

March 20, 2014 748 Views 0 comment Print

Notification No. 17/2014-Income Tax SO 861(E) – In exercise of the powers conferred by clause (46) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Andhra Pradesh State AIDS Control Society a body constituted by the Government of Andhra Pradesh in respect of the following specified income arising to that Society, namely:—

Amendment in Meaning of term ‘Training Institute’ for Skill Development Project under Sec. 35CCD R.W. rule 6AAH

March 20, 2014 1879 Views 0 comment Print

Notification No. 16/2014-Income Tax In the Income-tax Rules, 1962, in rule 6AAH, – (A) for the clause (ii), the following clause shall be substituted, namely:- ‘(ii) Training institute” means a training institute, – (a) set up by the Central Government or a State Government or a local authority;

CBDT notifies Ace Derivatives and Commodity Exchange Ltd.’ for trading of commodity derivative U/s. 43(5)

March 20, 2014 1018 Views 0 comment Print

Notification No. 15/2014-Income Tax entral Government hereby notifies the Ace Derivatives and Commodity Exchange Limited, Ahmedabad as a recognised association for the purposes of clause (e) of the proviso to clause (5) of the section 43(5), with effect from the date of publication of this notification in the Official Gazette.

AO must give reasonable time to assessee after rejecting stay application before initiating recovery proceedings

March 20, 2014 2200 Views 0 comment Print

Recently Delhi High Court has in the case of Sony India Pvt. Ltd vs. ACIT held that It is expected of from Assessing Officer, having rejected the stay application, to wait for a reasonable period before he takes coercive steps to recover the amounts

Rate of exchange of conversion of each of foreign currency wef 21st March, 2014

March 20, 2014 2236 Views 0 comment Print

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance

SC: Assessee entitled to Interest U/s. 244A on refund of excess deduction of tax at source (TAS) made pursuant to order u/s 195

March 19, 2014 6207 Views 0 comment Print

In the present case, it is not in doubt that the payment of tax made by resident/ depositor is in excess and the department chooses to refund the excess payment of tax to the depositor. We have held the interest requires to be paid on such refunds. The catechize is from what date interest is payable, since the present case does not fall either under clause (a) or (b) of Section 244A of the Act.

ICSI – Finance Act and other changes Applicable for June, 2014 Examination

March 19, 2014 6921 Views 0 comment Print

Clarification about applicability of the relevant Finance Act and other changes for Company Secretaryship June, 2014 Examination. DIRECT TAXES Students appearing in paper of Tax Laws (Old Syllabus), Tax Laws and Practice (New Syllabus) of Executive Programme and Advanced Tax Laws and Practice (Old Syllabus) of Professional Programme, Advanced Tax Laws and Practice (New Syllabus) […]

Empanelment of Valuers / Stock Auditors with SBI

March 19, 2014 15277 Views 3 comments Print

LHO, BANGALORE / DELHI INVITES APPLICATIONS FOR THE EMPANELMENT OF VALUERS / STOCK AUDITORS IN STATE BANK OF INDIA, BANGALORE / DELHI CIRCLE

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