Notwithstanding anything contained in paragraph 2, this notification shall remain in force up to and inclusive of the 30th day of August, 2015, unless revoked earlier.”
Notification No.47/2014-Income Tax Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby directs that all the provisions of the said Protocol amending the agreements between the Government of the Republic of India and the Government of Polish People’s Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from the first day of April, 2015, being the first day of the fiscal year next following the year in which the Protocol enters into force.
Notification No. 46/2014-Income Tax (4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in sub-rule (4) shall be issued direct to the person responsible for deducting the tax under advice to the person who made an application for issue of such certificate.
Certain doubts have been raised regarding the levy of service tax on taxable services provided (i) by the members of the Joint Venture (JV) to the JV and vice versa; and (ii) inter se between the members of the JV. In addition, doubts have also been raised regarding taxation of cash calls or capital contribution made by the members to the JV and also administrative services provided by a member to the JV.
Notification No. 45/2014-Income Tax DATED 23-9-2014 Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C and the price of which the international transaction or specified domestic transaction has actually been undertaken does not exceed one percent of the latter in respect of wholesale trading and three percent of the latter.
Notification No. 44/2014 Income Tax The Government of the Republic of India and the Republic of Colombia, desiring to conclude an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and with a view to promoting economic cooperation between the two countries, have-agreed as follows:
F. No. CIT(Judicial)/Empanel. of Counsels/Vol.II //2014-15 Dated : 23.09.2014 Applications in prescribed proforma (A1 & B) are invited from the tax lawyers of substantial standing and repute and with good academic credentials for the empanelment of Senior and Junior Standing Counsels for representing tax matters of the Income Tax Department in the High Court of Delhi and other fora.
It was required that each Ministry/Public Authority should get its proactive disclosure package audited by third party every year and such audit should be communicated to the CIC through publication on their own website. It has been noticed that most of the Ministries/Public Authorities have not yet got their proactive disclosure package audited by a third party.
CBDT has constituted a Committee to appraise the existing Instruction No 4/2002 dated 07.05.2002 on the above mentioned subject and to suggest suitable modifications to the same.
In the Budget 2014-15, excise duty on Polyester Staple Fibre (PSF) and Polyester Filament Yarn (PFY) manufactured from plastic waste or scrap or plastic waste including waste polyethylene terephthalate (PET) bottles (which was already exempt w.e.f. 08.05.2012) has been exempted retrospectively w.e.f. 29.06.2010 to 07.05.2012 [section 110 of the Finance (No. 2) Act, 2014 refer]
