Under the Customs Baggage Declaration Regulations 2013 all incoming international passengers will be required to declare the content of their baggage in the Indian Customs Declarations Form prescribed in the regulation.
Market Linked Focus Products Scrip (MLFPS): Export of Products/Sectors of high export intensity/employment potential (which are not covered under present FPS List) would be incentivized @ 2 % of FOB value of exports (in free foreign exchange) under FPS when exported to the Linked Markets (countries), which are not covered in the present FMS list. Such products will be listed.
8. In respect of items at Sl No. 260 to 263 of Appendix 37 D Table-1, in the column ‘Bonus Benefit’ the phrase Bonus only to Bicycles stands deleted w.e.f. 25.02.2014 when the original Public Notice was issued.
First point tax levied under the Punjab VAT, 2005 on additional commodities with effect from 01.03.2014 Excise and Taxation department has issued notification no. S.O 17/P.A.8/2005/ S.8/2014 dated 21.02.2014 which is effective from 01.03.2014. This is another notification beside the notification issued on 13.12.2013 effective from 01.01.2014 By virtue of this notification, List of commodities […]
The decision of the Calcutta High Court in the case of Maersk Line UK Ltd, which reiterates the fact that business transactions having commercial substance and bona fide business purpose are permissible as long as there is no misuse of the provisions, assumes importance since the same is the first (and probably the last) judicial pronouncement in respect of the dormant section 93 of the Actand more so, since the said section, being a specific anti-avoidance provision could lose its sheen once GAAR takes the reign.
The Central Board of Direct Taxes has extended the time-limit for filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns e-filed with refund claims within the time allowed under section 139 of the Act.
That the Doctors, Lawyers and Architects can use 30 per cent of the area on the ground floor in their premises in residential sector for running their clinics/offices.
Sub: Deduction of tax at source under Section 195 read with Sections 201 of the Income-tax Act, 1961 relating to payment made to a non-resident-reg. Section 195 of the Income-tax Act (hereafter referred to as ‘the Act’) provides that any person, responsible for paying to a non-resident not being a company or to a foreign company, any sum chargeable under the provisions of this Act, shall at the time of credit of such income to the account of the payee or at the time of payment thereof, whichever is earlier,
For utilizing entire residential place for commercial purposes means to change in utilization. And it can be done by prior permission of the committee. In the development rule there is a provision that members are allow to utilize some percent of his residential place for the profession based on their professional education (C.A., Advocate, Doctor, […]
The ICAI has issued this exposure draft on Defined Benefit Plans: Employee Contributions which includes amendments to Ind AS 19 Employee Benefits. The exposure draft is open for public comments till March 25, 2014. To Read more Download the Attchment
