"16 January 2015" Archive

Rent from Mobile antennae installed at terrace taxable as House Property Income

Manpreet Singh Vs ITO (ITAT Delhi)

Rent is for space to host the antennas and not for the antennas. As long as the rent is for the space, terrace and roof space in this case and which space is certainly a part of the building, the rent can only be taxed as ‘income from house property’....

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Cost Audit Deprived for the Automobile Industry

The current status of the Automobile industry is that it’s crying and no one is bothered to hear the same. Before we get into the platform of debate I just want to accentuate few question about how government would find or measure the true potentiality after cost audit is abolished for the industry....

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Posted Under: Income Tax |

Companies (Accounts) Amendment Rules, 2015

Notification No. G.S.R. 37(E) (16/01/2015)

"2A. Notice of address at which books of account are to be maintained.—For the purposes of the first proviso to sub-section (1) of section 128, the notice regarding address at which books of account may be kept shall be in Form AOC-5."...

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Increase in Excise Duty on petrol & Diesel (both branded & unbranded)

Notification No. 03/2015-Central Excise (16/01/2015)

Central Government vide Notification No. 03/2015-CE dated January 16, 2015 has increased the Excise duty on Petrol (both branded as well as unbranded) and Diesel (both branded as well as unbranded) by Rs. 2 per Litre. The new rates shall be effective from January 17, 2015....

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Review of Guidelines on Restructuring of Advances by NBFCs

RBI/2014-15/410 DNBR.CO.PD.No.011/03.10.01/2014-15 (16/01/2015)

In terms of extant instructions contained in the above mentioned circulars, revisions of the date of commencement of commercial operations (DCCO) and consequential shift in repayment schedule for equal or shorter duration (including the start date and end date of revised repayment schedule) will not be treated as restructuring provided th...

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CBEC directs custom officers to follow FEMA guidelines related Export & Import of Currency

Circular No. 03/2015-Custom Duty (16/01/2015)

Attention is invited to Regulation (3) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified vide Notification No.FEMA.258/2013-RB dated February 15, 2013 and A.P. (DIR Series) Circular No. No. 39 dated...

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Amendment in import policy conditions under ITC (HS) 4 digit code 8517

Notification No. 107/(RE-2013)/2009-2014 (16/01/2015)

In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.3 and 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends the Import Policy Condition under ITC (HS) 4 digit code 8517 of Chapter 85 of ITC (HS), 2012 - Schedule - 1 (Import Policy)....

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