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Notifications/Circulars

CBDT notifies Central Silk Board’ for exemption U/s. 10(46)

June 20, 2019 1704 Views 0 comment Print

Notification No. 45/2019- Central Government notifies ‘Central Silk Board’, Bengaluru, PAN: AAALC0093M a Board constituted by the Central Government, in respect of the specified income arising to that board under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2019 New Delhi, the 20th […]

Credit of Penalty for short-collection/non-collection of Margins on Commodity Derivatives Segments to Core SGF

June 20, 2019 831 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2019/73 June 20, 2019 To, The Managing Directors / Chief Executive Officers, All Recognised Stock Exchanges and Clearing Corporations having Commodity Derivatives Segment IPF Trusts of Recognised Stock Exchanges Sir / Madam, Sub: Credit of Penalty for short-collection/non-collection of Margins on Commodity Derivatives Segments to Core SGF 1. […]

Additional Customs duty on goods re-imported under Customs N/N. 94/96-Customs- Reg

June 19, 2019 8361 Views 0 comment Print

Representations have been received for clarifying the issue of availability of exemption from the additional duty of customs leviable under Section 3 of Customs Tariff Act, 1975 under notification no. 94/96-Customs dated 16.12.1996 on the re-import of jewellery which had been earlier exported either for participation in exhibition or on consignment basis.

Assessment of Firms-Important issues which AO must consider

June 19, 2019 3609 Views 0 comment Print

C&AG had carried out a Performance Audit regarding ‘Assessment of Firms’ under the Income-tax Act, 1961 (‘Act) and in its Report No. 7 of 2014, has made certain suggestions so that in future, assessments in these cases are handled in a more effective manner by the Assessing Officers (AOs).

CBDT on non-allowability of set-off of losses against deemed income

June 19, 2019 15078 Views 0 comment Print

Clarification regarding non-allowability of set-off of losses against deemed income under section 115BBE of Income-tax Act, 1961 prior to assessment-year 2017-18-reg.

Manufacture and Other Operations in Warehouse Regulations, 2019

June 19, 2019 12195 Views 0 comment Print

These regulations may be called the Manufacture and Other Operations in Warehouse Regulations, 2019. They shall come into force on the date of their publication in the Official Gazette.

Posting of Judicial and Technical Members of NCLT

June 19, 2019 2718 Views 0 comment Print

As per ACC directions contained in DoP&T’s communication no. 18/10/ 2019-EO (SM.II) dated 03.05.2019 and in consultation with the President, National Company Law Tribunal (NCLT), the following Judicial and Technical Members of NCLT are posted at the Benches as under:

Discrepancy in HSN Code Classification of Stone & Marble Handicrafts- reg

June 19, 2019 2313 Views 0 comment Print

While referring to the discrepancy in the classification of Stone & Marble Handicrafts under CTH 6802 or 6815, it has been concluded that the said items are rightly classifiable under heading 6802 subject to compliance to other conditions given in the explanatory notes to this heading.

Modified Approval process for issue of paper Income Tax refunds and Manual Order Upload functionality

June 18, 2019 1002 Views 0 comment Print

Kind reference is invited to ITBA assessment instruction no 9 dated 07.05.2018 in which the process of uploading of manually passed order in ITBA system was described. Vide above instruction it was explained that for doing any work in system, the previous orders should have been passed in system.

Lok Sabha Passes Aadhaar and Other Laws (Amendment) Act, 2019

June 18, 2019 1263 Views 0 comment Print

The Lok Sabha on 4th July 2019 passed the Aadhaar (Amendment) Bill 2019, which seeks to replace Ordinance brought by the Centre last March. With over 122 crore Aadhaar numbers having been issued and with the widespread use of Aadhaar as a proof of identity for various purposes by the Government of India, State Governments […]

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