B.Ramana Kumar, M.Com., LLB, FCA, Advocate Hitherto, the export commissions paid to foreign agents were never in question of taxation in India. This was fortified by Circular No.23 dated 23 July 1969 which stated that where a foreign agent of India exporters operates in his own country and his commission is usually remitted directly to […]
The assessment proceedings are not public proceedings where all and sundry are allowed to participate and add their opinion to the proceedings. Merely because a spirited citizen wishes to assist in assessment proceedings, the same cannot be stated to be in larger public interest.
FM asks the Customs Officials to use Latest Technology to Gather and Analyze Intelligence Information to Curb any Illicit Transaction Across the Border December 4, 2014 – The Union Finance Minister Shri Arun Jaitley asked the Customs officials to use latest technology to gather and analyze intelligence information relating to any illicit transaction across the […]
As banks have started offering mobile banking services at different points of time, there are differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process. Generally, banks are offering mobile banking services through the SMS, Application-based solutions and USSD channels.
SHRI ANIL KUMAR SINHA TAKES OVER AS DIRECTOR, CBI Shri Anil Kumar Sinha, an IPS Officer of 1979 Batch (Bihar Cadre) today took over as Director, Central Bureau of Investigation. Before joining, he was serving as Special Director in CBI. While interacting with media, Shri Sinha said, “I accept the responsibility to head the premier […]
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments […]
The maximum validity of the gift cards has been enhanced from one year to three years. Other provisions of PPI guidelines with respect to Gift Cards will continue to be applicable.
It has come to the notice of the Board that due to recent devastation caused by the floods in the State of Jammu & Kashmir, the income-tax assessees of that State are facing difficulties in ensuring compliance either with the requirements under ongoing scrutiny assessment proceedings or with respect to notices u/s 143(2) of the Income Tax Act, 1961 (‘Act’) issued recently.
Companies (Amendment) Bill, 2014 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013. The Companies Act, 2013 (Act) was notified on 29.8.2013. Out of 470 sections in the Act, 283 sections and […]
PRESS NOTE Setting Up Of High Level Committee To Interact With Trade And Industry On Tax Law In his Budget Speech 2014-1 5, Finance Minister had announced the setting up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required. Accordingly, a High Level […]
