With a view to mitigate the hardships being faced by members whose names stand removed as on date due to non-payment of membership fee, the Council has decided to give an opportunity by way of General Amnesty Scheme one time dispensation for restoration of their names retrospectively.
It is clarified that under the provisions of aforesaid Circular, residents that are subsidiaries of multinational companies can also hedge their foreign currency exposure through permissible derivative contracts executed with an AD Category – I bank in India on the strength of guarantee of its non-resident group entity.
Passenger should bring with him four copies of a detailed packaging list incorporating the item wise details of each item of jewellery mentioning the particulars necessary for the identification of the items at the time of re-import, such as S.No., description of the item, B.I.S. number, purity, number of pieces of each item, gross weight of each item, net weight of gold/silver in terms of 0995/.999
Ministry of Commerce & Industry Press Release Dated 06-January, 2015 Press Note No. 2 (2015 Series) – Review of the policy on Foreign Direct Investment (FDI) in Pharmaceutical Sector- carve out for medical devices 1.0 Present Position: 1.1 Paragraph 6.2.18 of ‘Consolidated FDI Policy Circular of 2014’, effective from April 17, 2014, relating to Foreign […]
As a part of Prime Minister’s ‘Good Governance Day’ promise to provide an “open and accountable administration’ it has been decided that all field offices of the Income Tax Department will observe Public Meeting Day ‘ during 10.00 AM to 1.00 PM every Wednesday to listen to and try to resolve the grievances of the members of the public.
The Central Government vide Notification No. 01/2015-Customs (ADD) dated January 5, 2015 has continued the imposition of Anti-Dumping Duty on import of Synchronous Digital Hierarchy transmission equipment originated in or exported, from People’s Republic of China and Israel, falling under Sub-Heading 8517 62 or 8517 70 of the First Schedule to the Customs Tariff Act, 1975.
In a reply to an application under RTI Act filed by CA Subin V R from Thrissur Income Tax Department has revealed the total amount collected under section 234E of the Income Tax Act in the financial year 2013-14 and from April 2014 to October 2014. As per the reply order dated 22-12-2014 the amount so collected is as under:
1. TDS is a non-obtrusive but powerful instrument to prevent tax evasion as well as to expand the tax net. TDS also minimizes tax avoidance by the taxpayer (income earners), as the payee’s transaction(s) are reported to the Department by the third person. The contribution of TDS to the overall gross direct taxes collections during F.Y.2013-14 was Rs.2,71,069 crore. This is a 17.88% growth over the collections shown under this minor head from Rs.2,29,943
Following its earlier year trends, ICAI has extended the last date for complying with the CPE hours requirement for the Calendar Year 2014 from 31st December, 2014 to 31st March, 2015.
SEZ Act provides exemption of duties of customs, central excise and service tax for operations within SEZs subject to certain conditions. In this article we have discussed issues in Compliance by SEZs of Service Tax Related provisions and problems in monitoring of misuse of such exemptions :- 1. Absence of mechanism for accounting of Service […]
