In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby makes the following amendments in respect of ITC (HS) Code 5202 at Sl. No. 161 A.
As a matter of trade facilitation and reduction in use of papers in customs processing, it is proposed to revise the format of Exchange Control copy of Shipping Bills to include only the information which is deemed to be necessary and relevant for the banking as well as compliance with government regulations purposes.
SMS BASED SERVICE FOR CHALLAN STATUS – NSDL provides CIN (Challan Identification Number) based view of direct tax challans to taxpayers to know the status of challan on its web-site. In addition to the above facility, NSDL has launched a Short Message Service (SMS) based facility to know the status of its challans. The procedure for availing this facility is as under:
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker – by entering ‘PAN’ and ‘Assessment Year’ below. Status of ‘paid’ refund, being paid other than through ‘Refund Banker,’ can also be viewed at www.tin-nsdl.com by entering the ‘PAN’ and ‘Assessment Year’ below. ‘Refund paid’ status is also being reflected in the ‘Tax Credit Statements’ in Form 26AS.
National Securities Depository Limited (NSDL) processes PAN and TAN applications on behalf of Income Tax Department. With a view to keep the applicant updated about the status of his application, NSDL has launched a Short Message Service (SMS) based facility. The applicant can send an SMS to 53030 with a message containing the word PAN followed by a space and the 15-digit acknowledgement number provided at the time of submission of application i.e., PAN ACKNOWLEDGEMENT NUMBER (e.g., PAN 123456789012345 – this is an illustrative acknowledgement number. Actual acknowledgement number should be provided in the SMS).
PM chaired a high level meeting to discuss the FDI policy in drugs and pharmaceutical sector. The meeting was attended by Finance Minister, Sh Pranab Mukherji, Health Minister Sh Ghulam Nabi Azad, Commerce, Industry and Textile Minister Sh Anand Sharma, Pharmaceutical and Chemical Minister Sh MK Alagiri, Deputy Chairman Planning Commission Dr Montek Singh Ahulwalia, Member Planning Commission.
Notification No. 55/2011 – Income Tax [F.NO. 203/4/2011/ITA-II] – It is hereby notified for general information that the organization Indian Institute of Technology Rajasthan, Jodhpur has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2011-12 and onwards in the category of ‘Other Institution’, engaged in research activities subject to the following conditions, namely:-
In exercise of the poweis conferred by Settion 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Employees’ Service) Regulations, 2001
Concerned over the CBDT panel’s proposal to allow reopening of tax filings of the past 16 years, experts and lawyers said it would only result in harassment of assessees without yielding any substantial gains to the exchequer.
Premiums paid for Life insurance – Deduction under Section 80C Category of assesses allowed deduction: Individual assessee and Hindu Undivided Family assessee. Eligible Savings: Premiums paid or deposited by assessee to effect or to keep in force insurance on the life of following persons: In case of individual assessee – Himself/Herself, spouse, children of such […]
