Notification No. 9/2011 – Income Tax It is hereby notified for general information that the organization Sinha Institute of Medical Science & Technology, Kolkata 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), for the Assessment Year 2009-10 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions
India has entered into a Tax Information Exchange Agreement (TIEA) with the Bahamas. The Agreement was signed on 11th February 2011 by the High Commissioner of India to Jamaica (concurrently accredited to the Commonwealth of The Bahamas) on behalf of
PRESS RELEASE Ref: — Date: 10-02-2011 Portability of Health Insurance Policies There have been several representations from consumer associations and policyholders for enabling portability of health insurance policies from one insurer to other insurer. Persons shifting from one region to other regions are many times put to disadvantage due to lack of insurers’ office providing […]
Notification No. 12/2011 – Customs (N.T.), New Delhi, 15th February, 2011. S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely:
Effect of inclusion: The entries sr. no. 157 and 163 shall be entitled to Bonus Benefits of 2% under FPS benefits (i.e. total 5%+2% = 7%) for exports made from 1.1.2011 onwards. All other above entries shall be entitled to Bonus Benefits of 2% under FPS benefits (i.e. total 2%+ 2% = 4%) for exports made from 1.1.2011 onwards.
In respect of exporters of handicrafts and handloom products from the State of Jammu & Kashmir, Director, Handicrafts, Government of Jammu & Kashmir is authorized to issue Registration Cum Membership Certificate (RCMC).
To facilitate early issue of licences, it has been decided that intending exporters of Bangalore Rose and Krishnapuram onion may seek such licence from their respective Regional Authorities rather than come to Headquarter office of DGFT at Delhi. The applications in prescribed format (ANF 2D) be made to the Regional Authorities for the purpose subject to MEP of US $ 1400 per Metric Ton as prescribed in Notification No.19(RE-2010)/2009-14 of 10.2.2011.
Now CBEC has clarified that, “The exemption provided under Notification.17/2006-Central Excise (NT) dated 01.08.2006 and Notification No. 39i2004-Central Excise (NT), dated 25.11.2004, as amended, is available to interalia assessee who paid duty of excise less than Rs.1crore including the amount paid by utilization of CENVAT credit. It is, therefore, clarified that the assessees or class of assessees who are not required to file the ER-4, ER-5 & ER-6 returns because of the above exemption, are not required to file such returns electronically even if the duty paid by them including the amount paid by utilization of CENVAT credit in the preceding financial year exceeds Rs.10l acs.”
Export of cotton yarn by 100% EOUs in the cotton yarn sector is exempted from the restriction imposed on export of cotton yarn vide above notifications in terms of para 6.2(a) of Foreign Trade Policy, 2009-14 which stipulates that an EOU unit may export all kinds of goods and services except items that are prohibited in ITC (HS).
Trade & Industry is requested to see the details of the provision carefully in the aforesaid Notification and Public Notice on the subject. Any difficulty in implementation of the aforesaid guidelines shall be brought to the notice of this Directorate immediately.
