"16 April 2015" Archive

CBI arrests Deputy Commissioner of Income Tax, Delhi and 3 Others

CBI ARRESTS A DEPUTY COMMISSIONER OF INCOME TAX DELHI AND THREE OTHERS IN AN ALLEGED BRIBERY CASE OF RS.1.5 LAKHS The Central Bureau of Investigation has arrested a Deputy Commissioner of Income Tax (DCIT) M Logapathy, an IRS Officer of 2008 Batch, from his office Chamber at C.R. Building, ITO, New Delhi  while  demanding & [&hellip...

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Posted Under: Income Tax |

Service Tax Exemptions Withdrawn From 1st April, 2015

(a) Withdrawal of certain exemptions under Notification No. 25/2012-ST. (i) Construction services provided to Government etc (Entry No. 12)- Clauses (a), (c) and (f) shall stand omitted. Construction, repair etc of the following services provided to the Government, a local authority, or a governmental authority are now taxable:...

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Posted Under: Income Tax |

Note on One Person Company (OPC)

The Companies Act, 2013 has introduced new concept of ‘One Person Company’ (herein after referred to as ‘OPC’). Section 3 (1) (c) has been notified vide notification dated 26th March, 2014 and the same shall be effective from 01st April, 2014. ...

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Posted Under: Income Tax |

Changes required in Companies Act, 2013

We have already entered in new era of Change called the Companies Act, 2013 (‘the Act’). However, this time change has brought enough reasons to worry and industry is already feeling heat of changes and struggling to cope with the changes due to complexities and additional burden of compliances brought by the Act. ...

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Posted Under: Income Tax |

Detail of Action taken on Satyam case by ICAI against each Individual member

As part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of the Institute of Chartered Accountants of India (ICAI) is working assiduously. ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Ac...

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Posted Under: Income Tax |

Changes in Notified ITR-1, ITR-2, ITR-4S for A.Y. 2015-16

CBDT has vide Notification No. 41/2015 Dated 15.04.2015. notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return. A brief summary of Changes is as follows :- ...

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Posted Under: Income Tax |

Form ITR-2 – Who can & who cannot file & Manner of Filing for A.Y. 2015-16

1. Who can use Form ITR-2 for Assessment Year 2015-16 i.e. Financial year 2014-15? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:- (a)     Income from Salary / Pension; or (b)     Income from House Property; or (c)      Income from Capit...

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Posted Under: Income Tax |

Notification No. 40/2015 Customs (N.T.), dated 16 April, 2015

Notification No. 40/2015-Customs (N.T.) (16/04/2015)

Central Excise Duties and Service Tax Drawback Rules, 1995, the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 110/2014 - Customs (N.T.) dated the 17th November, 2014 published vide number G.S.R. 814 (E) dated the 17th ...

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Notification No. 39/2015 – Customs (N.T.) Dated 16 April, 2015

Notification No. 39/2015–Customs (N.T.) (16/04/2015)

Notification No. 39/2015 – Customs (N.T.) Dated 16 April, 2015 G.S.R. 294 (E)- In exercise of the powers conferred by sub-section (1A) of section 75 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry...

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Anti-dumping duty on import of Acetone, originating in or exported from Chinese Taipei and Saudi Arabia

Notification No. 13/2015-Customs (ADD) (16/04/2015)

G.S.R. (E). –Whereas, in the matter of ‘‘Acetone’ (hereinafter referred to as the subject goods), falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in, or exported ...

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