On a review, it has been decided to permit such resident entities / companies in India, authorised by the Government of India, to issue tax-free, secured, redeemable, non-convertible bonds in Rupees to persons resident outside India to use such borrowed funds for the following purposes:
Comments / views and suggestions invited regarding changes of UQC against HS Code in Customs Tariff of India for declaration in Bills of Entry / Shipping Bills – Last date of submission is 15th January, 2014. The same may also be emailed to tariffunit-rev@nic.in
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act,1992, as amended, read with paragraph 1.3 of the Foreign Trade Policy, 2009-14 the Central Government hereby makes the following amendments in respect of Sl. No. 179 of Schedule 2 of ITC(HS) Classifications of Export and Import Items.
Notification No. 96/2013 – Income Tax The list of documents to be submitted along with PAN Application Form49A/49AA has been revised. Aadhaar Card will now be accepted as a valid Proof of Identity and Address. Individuals being Citizens of India will now have to submit Proof of Date of Birth along with Proof of Identity and Address. Format for certificate of ID / Address by Employer / Bank also has been specified in Annexure A, B and C.
Please refer to our mailbox clarification dated November 6, 2009 with respect to the ‘Special Reserve’ created by banks under Section 36(1) (viii) of Income Tax Act, 1961 (hereinafter referred to as ‘Special Reserve’), in terms of which, only the net amount of such Special Reserve (net of tax payable) should be taken into account for the purpose of computation of Tier-I capital.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in
Hereby renotify Bank of Maharashtra located in National Capital Territory of Delhi as appropriate Government Treasury for the purpose of deposit of Value Added Tax dues in relation to a dealer who are registered or liable to be registered under the Act and from contractees (TAN holders)
It is advised that a credit card account will be treated as non-performing asset if the minimum amount due, as mentioned in the statement, is not paid fully within 90 days from the next statement date. The gap between two statements should not be more than a month.
A person, who is desirous of getting benefit under Punjab Voluntary Disclosure of Value Added Tax Scheme, 2013, shall either be a taxable person or a registered person under the Act. Such person shall be entitled to avail benefit under this scheme, for settlement of un-paid tax in case of any discrepancy in the discharge of their tax liabilities under the Act.
Pursuant to the Safe Harbour Rules in Rules 10TA to 10TG, the CBDT has issued a letter dated 20.12.2013 in which it has laid down important directives and clarifications on the manner in which the Safe Harbour Rules are meant to be implemented. The directives and clarifications are as follows:
