In order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and next financial year, the Government has decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs. 2 per litre. Allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector.
NOTIFICATION NO.01/2015-CUSTOMS (N.T.) DATED THE 1st January, 2015 S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.116/2014-CUSTOMS (N.T.), dated the 18th December, 2014 […]
Under the extant ECB guidelines, the choice of security to be provided to the overseas lender / supplier for securing ECB is left to the borrower. With a view to liberalising, expanding the options of securities and consolidating various provisions related to creation of charge over securities for ECB at one place
Income Tax Department has started sending Reminder by email to those who have not filed their Income tax return for Assessment Year 2014-15. Reminder is based on data available with e-filing website of Income tax India. In the reminder, department has provided a form in which Assessee has to provide the reason for non filing of return. Assessee can choose the option applicable to him and after choosing his option he can click the submit button given in the email :-
7 January 2015 Due date for deposit of Tax deducted/collected for the month of December, 2014 7 January 2015 Due date for deposit of TDS for the period October 2014 to December 2014 when Assessing Officer has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H.
Instances have come to the notice of the Board where information pertaining to individual taxpayers has been published in the print media with specific reference to departmental sources. In some cases, even details contained in departmental documents seem to have been shared with the representatives of media.
EPFO (Employees Provident Fund Organisation) has cut the administrative fee it charges under the ambit of its social security schemes, effective from January 1st 2015. The administrative charges have been reduced to 0.85% of basic wage from 1.10% as per a Labour Ministry Notification No. S.O. 323(E) and S.O. 324(E) both dated 02.02.2015.
Central Board of Direct Taxes hereby directs that the lncome ax authorities specified in column (2) of the Table below shall, for the purposes of the functions under section 144C of the said Act, be subordinate to the Income-tax authority specified in column (1) of the said Table, namely:-
Notification No. 91/2014-Income Tax S.O. 3324(E).· In exercise of the powers conferred by sub-section (14) of sect1on 144C of the Income-tax Act. 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax (Dispute Resolution Panel) Rules, 2009, namely:-
RBI has been constantly revisiting the FEMA regulations pertaining to overseas direct investment, foreign investments in India and others in view of current scenario and amending the same. With a view to grant greater flexibility to Indian Companies, RBI vide Notification No. FEMA.322/RB-2014 dated 14th October 2014[1] amended the FEMA
