Public Notice No. 28/2015-2020 In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015-2020 and in partial modification of public notice No 27 dated July 14, 2015, the Director General of Foreign Trade hereby makes the following amendments in Table 2 of Appendix 3B notified through Public Notice No.2 dated April 1,2015. This will be effective from July 14, 2015.
Over last few days a number of reports have appeared in the media expressing views and concerns regarding the applicability of various provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015.
Commencement of Electronic Verification of Income Tax Returns for AY 2015-16 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. A taxpayer may verify his return through Internet Banking or through Aadhar based authentication process. Persons using this facility will not be […]
It is clarified that these ‘service charges’ collected by the restaurants/hotels/eateries are retained by the restaurants/hotels/eateries and are not ‘service tax’ imposed by the Government.
A number of infuriated lawyers reportedly attacked the office of the income tax commissioner in Faisalabad (Pakistan) on Monday and caused damaged to furniture and windowpanes besides manhandling the staff.
OPJS University is restrained from admitting any student in the School of Chartered Accountants for awarding Masters Degree in Chartered Accountancy, Bachelors Degree in Chartered Accountancy, Diploma in Chartered Accountancy and Certificate in Accountancy. The University shall also not award degree diploma or certificate aforesaid”
In the wake of Liberalisation, Privatisation and Globalisation,(L.P.G) developing countries should have regulatory system which motivates confidence of foreign investors, traders and suppliers and recently developed Indian legal system shall provide an expeditious, cost effective and flexible dispute resolution system indeed.
Notification No. 67/2015-CUSTOMS (N. T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-
Section 37(1) of the Income-tax Act, 1961 (which corresponds to Section 10(2)(xv) of the Income-tax Act, 1922) allows deduction, while computing the income chargeable under the head profits and gains of business or profession, of any expenditure (not being expenditure of the nature described in sections 30 to 36 of the Act and not being in the nature of capital expenditure or personal expenses of the assessee)
Additions/amendments in Table 1 (containing List of Country Groups) and Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B under the Merchandise Exports from India Scheme (MEIS) are notified.
