In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Additional/Joint Commissioner of Customs, Central
An exercise has been done to align the product description and ITC HS codes of items mentioned in Appendix 37-A and 37-D of HBP v1. This has been notified through Public Notice No. 52 on 25.02.2014. The intention behind this exercise was to align / harmonize description with the ITC HS codes and hence there has been no addition / deletion in entitlement.
A bare reading of section 54F clearly shows that the assessee is entitled for exemption in case he / she constructs a residential house within a period of three years after the sale of the capital asset. However, sub clause (4) of section 54F clearly says that the unutilized portion of the net sale consideration which is otherwise liable for capital gain tax shall be deposited in the capital gain account scheme within the period of due date for filing return of income u/s 139.
The Tribunal has specifically found that in the process of manufacture of cotton yarn, cotton waste came to be generated and the use of the said waste by another manufacturer shows that it was used as raw material by purchaser.
Kaushal Agrawal Fast track quick revision of set off and carry forward of losses of Indian Income Tax act 1961. Section 70 to 80 deals with set off and carry forward of losses. As per section 70 losses can be set off within their own head. Section 71 allows losses to be set off with […]
Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was already approved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha. Download Finance Bill 2014 as approved by the President
Leave Management/Attendance Management is one of the most vital aspects in workforce management. Leave/Absenteeism may occur in organization due to a wide variety of reasons. Ultimately this is an aspect that directly hits the organizational productivity and indirectly affects the bottom line, therefore the ROI.
Due date extended for for filing TDS returns for Government Deductor: Double standard of CBDT”Relief should also extends to other assessee” Introduction: Recently on 4th March CBDT Issue a CBDT circular No. 07/2014 F. No. 275/27/2013-IT(B) in which CBDT extends the due date for filing return for F.Y.2012-13 ( for 2nd to 4th quarter) and […]
Recently In the case of CIT Vs. Sahara India (Firm) Hon’ble Allahabad High Court has held that amount received from deposits from the public under different finance schemes cannot be treated as Income of the Assessee as Assessee is a mere custodian of the deposit.
Background Partial reverse charge mechanism has been introduced w.e.f. July 1, 2012 wherein both service provider and service receiver are required to pay a specified portion of service tax liability in terms of Notification No.30/2012-ST dated June 20, 2012. Since, the Service provider pays only a part of the full Service tax liability under Partial […]
