"10 June 2015" Archive

Return filing date for AY 2015-16 extended to 31.08.2015 from 31.07.2015

225/154/2015/ITA.II (10/06/2015)

The Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends the 'due-date' for filing Returns of Income, in terms of clause (c) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961, for Assessment Year 2015-16 from 31st July, 2015 to 31st August...

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Error in admit cards sent to Student appearing for CPT exam to be held on 14th June 2015

It has been brought to our notice that the student registration number appearing on the admit cards relating to CPT June 2015 (hosted on www.icai.nic.in and in physical admit cards sent by post to those applicants who submitted the OMR exam forms) of some of the candidates is different from their registration number furnished by them in t...

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Posted Under: Income Tax |

FAQs: Rollback Provisions of Advance Pricing Agreement Scheme

Circular No. 10/2015-Income Tax (10/06/2015)

CIRCULAR NO. 10/2015 The Advance Pricing Agreement provisions were introduced in 2012 through insertion of sections 92CC and 92CD in the Income-tax Act, 1961 by the Finance Act, 2012. Subsequently, the Advance Pricing Agreement Scheme was notified vide S.O. 2005 (E), dated 30/8/2012, thereby inserting Rules 10F to 10T and Rule 44GA in the...

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Service Tax Tax Rate 14% w.e.f. 01-06-2015 and related provisions

The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. 1st June, 2015 is being notified as the date on which the following provisions will come into effect. 1. The rate of Service Tax is being increased from 12% to 14% (including cesses). (Notification No.14/2015-Service Tax, dated 19th May, 2015...

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Posted Under: Income Tax | ,

Indirect Tax collection increases by 39.20% during April-May 2015

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 36,408 Crore in May 2014 to Rs. 49,993 Crore During May 2015 An Increase of 37.3 % Registered During the Month of May 2015 over the Corresponding Period in the Previous Year; Central Excise Collections Registered an Increase of 84.2%; Customs Collections Registered an Increa...

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Posted Under: Income Tax |

Delhi Value Added Tax- Instruction Regarding Processing of Refund

12 OF 2015-16 (10/06/2015)

The refund is a vital activity in VAT regime. The claim for the refund is made by the dealer in the return filed by the dealer and hence the return itself becomes the application for refund. As per the DVAT Act and DVAT Rules, refund has to be given to the applicant within a period of 60 days from the date of application. ...

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Carifying jurisdiction related issues for filing cases for offence committed U/s. 138 of NI Act

Proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015. The proposed amendments to the Negotiable Instruments Act, 1881 (The NI Act) are fo...

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Posted Under: Income Tax |

Anti-dumping duty on imports of Vitamin E

Notification No. 29/2015-Customs (ADD) (10/06/2015)

Notification No. 29/2015-Customs (ADD) Dated- 10th June, 2015 Seeks to levy definitive anti-dumping duty on imports of Vitamin E, originating in or exported from the People's Republic of China for a period of five years. ...

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Introduction of facility of payment of rebate / refund claims amount directly to the assessee / exporters' Bank Account – Reg.

TRADE NOTICE NO: 04/2015 (10/06/2015)

Consequent to sanction of rebate / refund claims by the competent authority, cheques are being issued and the same are sent by Registered Post or handed over to the authorized person in person. The present procedure entails paper work and man power deployment by the claimants as authorized persons are required to visit the departmental of...

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Seeks to exempt from customs duty goods required for National AIDS Control Programme funded by GFATM

Notification No. 37/2015-Customs (10/06/2015)

NOTIFICATION No. 37/2015 - Customs Dated- 10th June, 2015 S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods mentioned in column (1) of the Table below ...

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