"11 April 2016" Archive

S. 54EC Save Long Term Capital Gain Tax- Invest in NHAI Bonds

In case you have booked any long term capital gain in last six months you can save tax by investing in 54EC bonds issues by NHAI recently. Find your eligibility here:...

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Posted Under: Income Tax |

Time limit to claim refund under rule 5 of Cenvat Credit Rules, 2004

M/s Infosys Technologies Ltd Vs. Commissioner of Service Tax (CESTAT Bangalore)

The Hon’ble CESTAT, Bangalore held that although there is no specific 'relevant date' under Section 11B of the Excise Act to claim refund of unutilized credit, but, that would not rule out applicability of Section 11B. Relevant date should be the date of export....

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Posted Under: Income Tax |

Clarification regarding re-refined used or waste-oil – reg

Circular No. 1024/12/2016–CX (11/04/2016)

References have been received regarding excisability of re-refined used oil or waste oil. Various units are engaged in re-refining of waste oil or used lubricating oil collected from the transformers, service stations of vehicles etc. The matter has been examined....

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CBI arrests ITO for for demanding & amp;accepting Rs.1.50 lakh bribe

CBI has arrested an Income Tax Officer, Ward-I, Gudiwada, East Godavari District (Andhra Pradesh) for demanding & accepting a bribe of Rs. 1.50 lakh from the Complainant.CBI laid a trap and caught the Income Tax Officer red handed while demanding & accepting the bribe of Rs.1,50,000/- as part payment of total bribe from the Complainant....

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Posted Under: Income Tax |

ICAI Empanelment as a Faculty for Workshops on ICDS

We wish to inform you that Direct Taxes Committee is one of the most important non standing Committee of ICAI. The main function of the Direct Taxes Committee is to examine the direct tax laws, rules, regulations, circulars, notifications, etc., which may be enacted or issued by the Government from time to time and to send suitable memora...

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Posted Under: Income Tax |

India & Maldives Sign Agreements with respect to Taxes

NA (11/04/2016)

The Government of the Republic of India and the Government of the Republic of Maldives signed two Agreements - for the Exchange of Information with respect to Taxes and for the avoidance of double taxation of income derived from international air transport on 11th April, 2016 during the visit of Hon’ble President of Maldives to New Delh...

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Import/Export of Gifts by Courier – regarding

F.No.450/179/201 5-Cus.IV (11/04/2016)

It has been brought to the notice that courier agencies abroad are refusing to book bonafide gift consignments for export to India citing non-clearance and embargo imposed on such gift-parcels by Indian Customs....

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Due date to file revised returns of Assets & Liabilities by Public Servants extended to 31.07.2016

G.S.R. 414(E) (11/04/2016)

G.S.R. 414(E).–In exercise of the powers conferred by sub-section (1) read with clause (k) and clause (m) of sub-section (2) of section 59 read with section 44 of the Lokpal and Lokayuktas Act, 2013 (1 of 2014), the Central Government hereby makes the following rules further to amend the Public Servants (Furnishing of Information and An...

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Public notice on abandonment of Trade Mark Applications

CG/Public Notice-/2016-17 (11/04/2016)

Some complaints were received claiming that applications had been treated as abandoned even though the reply on behalf of the applicants were submitted but the same were not considered by the office; some complaints were also received to the effect that the examination reports containing office objections were not received by the applican...

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Definition of e-commerce in foreign Trade Policy (2015-2020)

Notification No 2/2015-20 (11/04/2016)

e-commerce means buying and selling of goods and services including digital products, conducted over digital and electronic network. For the purposes of merchandise Exports from India Scheme (MEIS) e-commerce shall mean the export of goods hosted on a website accessible through the internet to a purchaser....

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