"May, 2015" Archive - Page 30

Tax Management Under the Income Tax Act, 1961

Ø Planning which leads to filing of various returns on time, compliance of the applicable provisions of law and avoiding of levy of interest and penalties can be termed as efficient tax management. Ø In short, it is an exercise by which defaults are avoided and legal compliance is secured. Through proper tax planning and management, t...

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Posted Under: Income Tax |

Excise exemption available to Indian manufacturers has to be extended to CVD payable by importers

AIDEK Tourism Services (P.) Ltd Vs. Commissioner of Customs

The Exemption Notification exempted goods falling under Heading 87.03 of the Central Excise Tariff Act, 1985 and consequently, duty payable was 40%. However, proviso to the Exemption Notification gives exemption of duty of 10% to the manufacturer of particular goods, namely, saloon cars, if such saloon cars are used solely as taxis. This ...

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Posted Under: Income Tax |

Notification No. 40/2014-Customs (N.T.) Dated: 12/05/2014

Notification No. 40/2014-Customs (N.T.) (12/05/2014)

The Contracting Parties shall meet as and when necessary in order to consider the operation of the present Agreement and in particular in order to consider measures to secure uniformity in the interpretation and application of the present Agreement....

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Consolidated FDI Policy (Effective from May 12, 2015)

D/o IPP F. No. 5(1)/2015-FC-1 (12/05/2015)

Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Consolidated FDI Policy Circular of 2015 Subject: Consolidated FDI Policy The ‘Consolidated FDI Policy’ is attached. 2. This Circular will take effect from May 12, 2015. (Atul Chaturvedi) Joint Secretary to the Government of...

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Road Accident: SOP for hospitals, police etc. for Good Samaritans protection

No. 25035/101/2014-RS (12/05/2015)

(1) A bystander or good Samaritan including an eyewitness of a road accident may take an injured person to the nearest hospital, and the bystander or good Samaritan should be allowed to leave immediately except after furnishing address by the eyewitness only and no question shall be asked to such bystander or good Samaritan....

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Disclosures under SEBI (Prohibition of Insider Trading) Regulations, 2015

Circular No. CIR/ISD/01/2015 (11/05/2015)

With reference to the requirements of the regulation 8 (Code of Fair Disclosure) and regulation 9 (Code of Conduct) of the Regulations, the companies shall also ensure that: i. Formulated and published (on its official website), code of practices and procedures for fair disclosure of Unpublished Price Sensitive Information (UPSI), is con...

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CBDT directives on MAT on foreign companies & FIIs

FTS No. 96370/2015 (11/05/2015)

Finance Minister has, while responding to the discussions on the Finance Bill in Rajya Sabha on 7th May, 2015, announced constitution of a Committee headed by Justice A.P. Shah to look into, inter alia, the issue of MAT on FIIs. The Committee is expected to give its report on this issue expeditiously....

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Sending mails automatically to Customers for ‘TDS Certificates Follow up’ with Mail Merge

Have you received TDS Certificates from all your Customers? If not, you can follow up for the TDS Certificates by sending mails automatically to your Customers by following the procedure mentioned below:...

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Posted Under: Income Tax |

All about Tds returns

So the due date for filing of TDS return for 4th quarter (Jan 15-Mar 15) is 15th May 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation utility, to make this cumbersome process an easy one govt. has introduced a TDS Return Preparatio...

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Posted Under: Income Tax |

All about Goods and Service Tax (GST) in India

The Goods and Service Tax (GST) is a tax likely to be implemented in India, from 1st April 2016. GST is proposed to be a comprehensive indirect tax to be levied on manufacture, sale and consumption of goods as well as services at the national level. It will substitute all indirect taxes levied on goods and services by the Central and Stat...

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Posted Under: Income Tax | ,