"04 July 2014" Archive

Public Notice No. 65 (RE-2013)/2009-2014, Dated: 04.07.2014

Public Notice No. 65 (RE-2013)/2009-2014 (04/07/2014)

In exercise of the powers conferred under Paragraphs 2.1, 2.4 and 2.29 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby allocates a total quantity of 8,100 MTs of raw sugar (at 98 degree Pol), out of non-levy(free sale) quota for export under tariff rate quota(TRQ) to USA for the US fiscal year 2014 (Octo...

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Public Notice No. 64 (RE-2013)/2009-2014, Dated: 04.07.2014

Public Notice No. 64 (RE-2013)/2009-2014 (04/07/2014)

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in Appendix-5 (List of Inspection and Certification Agencies) ofHandbook of Procedures Vol. I (Appendices and Aayaat Niryaat Forms) 2009-2014....

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Notification No. 29/2014-Customs (ADD) Dated: 04/07/2014

Notification No. 29/2014-Customs (ADD) (04/07/2014)

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the said Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 49/2...

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One mobile number or email ID can now be used for 10 Income Tax Accounts

Press Release (04/07/2014)

The Department will send separate One Time Passwords (OTP) also referred as PIN on the mobile and email provided by the taxpayer. The OTPs have to be entered by the taxpayer after logging into their e-filing account to authenticate the same. The OTPs will remain valid for 24 hours within which the taxpayer has to complete the process. For...

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Audit Limit of 60 for Tax Audit is per Assessment year – ICAI

ANNOUNCEMENT Modification in the Council Guidelines No. 1-CA(7)/02/2008 dated 8th August, 2008 as contained in Appendix No. (34) to the Chartered Accountants Act, 1949 The Council of the Institute at its 331st meeting held in February, 2014 decided to increase the specified number of tax audits from 45 to 60 and an Announcement dated 11.2...

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Posted Under: DGFT | ,

Download Online ITR 7 Java Utility for AY 2014-15 & who can use ITR 7

CA Sandeep Kanoi 1. CBDT has on 03.07.2014  released Java Utility of ITR 7 for online filing of ITR-7 for Assessment Year 2014-15. 2. Who can use this Return Form? This Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or […]...

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Posted Under: DGFT |

CBDT releases Form BB (Return of Net Wealth) for AY 2014-15

CA Sandeep Kanoi A company and an assessee being individual or HUF who is liable to audit u/s 44AB are required to furnish Form BB (Return of Net Wealth) electronically under digital signature for assessment year 2014‐15 and onwards. [Refer Notification No:32/2014 dated 23/06/2014]. Some of the Important Feature related to Filing of For...

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Posted Under: DGFT |

New IT Returns Under Income Tax Act and Tax Audit

I am attaching herewith a Presentation on Income Tax Returns for A.Y. 2014-15 and tax Audit Provisions. The presentation covers the following Topics :- 1. Requirements by the Income Tax Authorities from the Filers; 2. Goals of the IT Department; 3. Statistical Information of the goals achieved;...

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Posted Under: DGFT |

Section 184: Disclosure of Interest by Director

As per section 184 of the Companies Act 2013 read with Rule 9 of Companies (Meetings of Board and its Powers) Rules, 2014 every director of the Company has to disclose his interest by giving a notice in writing in Form MBP-1. In this article, we are discussing the manner of such disclosure and related compliance under the Companies Act, 2...

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Posted Under: DGFT | ,

Tax Proposal in Gujarat State Budget for the year 2014-15

 We are reproducing below the Tax Proposals in Gujarat State Budget for the year 2014-15 declared by Finance Minister Mr. Saurabh Patel on 1st July 2014. Value Added Tax Tax Credit on purchases of goods made from within the State and used in interstate sales The rate of Central sales Tax was reduced to 2% […]...

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Posted Under: DGFT |
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