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Purchases of materials from a person other than the customer is not a works contract –TDS is not applicable

August 18, 2015 2242 Views 0 comment Print

In the case of Commissioner of Income Tax Vs The Executive Engineer Court of Karnataka( Kalaburagi Bench) has held that if a person executing the work, purchases the materials from a person other than the customer

Anti Dumping Duty on Flexible Slabstock Polyol – Revoked

August 18, 2015 670 Views 0 comment Print

NOTIFICATION NO. 44/2015-Customs (ADD), Dated: August 18, 2015 Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 89/2009-Customs, dated the 31st August, 2009, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 621 (E), dated the 31st August, 2009, except as respects things done or omitted to be done before such rescission.

Anti Dumping Duty on PVC Flex Films extended till 29.07.2016

August 18, 2015 430 Views 0 comment Print

NOTIFICATION NO. 43/2015-Customs (ADD), Dated: August 18, 2015 Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of anti-dumping duty on PVC Flex Films falling under Chapter 39 of the First Schedule to the Customs Tariff Act, originating in, or exported from, the People’s Republic of China

Government imposes anti-dumping duty on caustic soda originating in, or exported from China and Korea

August 18, 2015 439 Views 0 comment Print

Whereas, the designated authority, vide notification No. 15/23/2013-DGAD, dated the 19th December, 2013, published in the Gazette of India, Extraordinary, Part I, Section 1, had initiated a review in the matter of continuation of anti-dumping duty on imports of

Customs Baggage Declaration (Amendment) Regulations, 2015

August 18, 2015 588 Views 0 comment Print

NOTIFICATION NO. 76/2015 – Customs (N.T.), Dated: August 18, 2015 In exercise of powers conferred by clause (a) of section 81 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations further to amend the Customs Baggage Declaration Regulations, 2013, namely:-

EVC – Electronic Verification of Income Tax Returns

August 18, 2015 9586 Views 0 comment Print

To facilitate the taxpayers and to provide end-to-end e-enabled services, the Income Tax Return for A.Y. 2015-16 can now be verified electronically. CBDT vide Notification No. 2/2015 dated 13th July 2015 introduced e-verification of ITRs. The same can be downloaded from the below link:

Retrospective amendments make no difference to non-taxability of payments made to foreign companies if income accrues abroad

August 18, 2015 2358 Views 0 comment Print

Delhi High Court has held in the case of DIT vs. M/s Lufthansa Cargo India that Retrospective amendments seeking to tax income of non-residents does not affect the source rule’. The amendment makes no any difference to the non-taxability of payments made to foreign companies if the income accrues abroad – Section 9.

Extension of due date for filing Income Tax Returns- ICAI ask for suggestions

August 18, 2015 5079 Views 0 comment Print

Dear Professional Colleague, Sub:   Extension of due date for filing Income Tax Returns – Soliciting views/ suggestions reg. As you are kindly aware, the CBDT has notified the ITR forms vide Notification No 49/2015, dated 22nd June, 2015 and Notification No 61/2015, dated 29th July, 2015. With regard to the same, as the due date of […]

Tax Return Preparers (TRP) vs. Income Tax Practitioner (ITP)

August 18, 2015 17263 Views 3 comments Print

The Tax Return Preparers (TRP) Scheme has been conceptualized by the Income Tax Department (ITD) and launched in 2006-07 to assist small and marginal taxpayers in preparing and filing their tax returns. The Role of TRP is that of preparing Returns of Income under Section 139 of the Income Tax Act for any assessment year for & on behalf of an eligible person, who may require furnishing the same.

Retain Your Faith

August 18, 2015 940 Views 0 comment Print

Faith is confidence or trust in a person or thing or a belief not based on proof. It is biggest gifts one can receive. The only thing that can help you survive the hardest of storms is Faith. In simple words, ‘it is nothing but a ray of light in our dark world’.

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