Notification No.73/2015 – Customs (N.T.) Dated the 6th August, 2015 CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 7th August, 2015
Notification No 17 /2015-20 Dated : 6 August, 2015 Export of Rice Bran oil in bulk has been exempted from the prohibition on export of edible oils. Also, the quantity ceiling on export of organic edible oils has been removed.
As all the dealers are aware that the Urban Development Department, Government of Maharashtra has informed all the dealers that from 1st August 2015, LBT shall apply only to those dealers whose turnover would exceed Rs. 50 Cr. in a year.
Reference is invited to Ministry of Finance, Department of Expenditure O.M. No. 21(2)/2008-E.II(B) dated 29th August, 2008 regarding grant of Transport Allowance to Central Government employees, consequent upon implementation of the recommendations of the Sixth Central Pay Commission (6th CPC).
Revenue challenged the order passed by ITAT majorly on three grounds. Firstly, on ground of adopting value of property as per the value provided by registered valuer instead of value adopted by AO on the basis of report of DVO.
Self Assessment u/s 140A: This simply means that the person is calculating his own tax liability and thereafter filing ITR after payment of self calculated tax. Since assessee himself calculates the tax and income, it is called as self assessment.
