this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the Institution and separate books of account are maintained in respect of such business
the Institution will regularly file its return of income before the Income-tax authority in accordance with the provisions of the Income-tax Act, 1961
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the Institution and separate books of account are maintained in respect of such business
The programme of Local Audit is communicated by the Revenue Audit at least one month before the Local Audit. All co-operation & assistance should be extended to the Revenue Audit Party (RAP) during the audit process. The records requisitioned by the RAP should be entered in the ‘Register’ maintained for this purpose and complete records should be made available.
Ministry of Health & Family Welfare further observes that in the instant case food article in question, have been imported in the country and not found to be conforming to the prescribed standards. No order of release and reprocessing has been passed by the Court in the said interim order. The Customs Authority suo moto would not be in a position to release the food article for reprocessing.
The e-payment of service tax has been made mandatory w.e.f . 1.10.2006, for all assesses who has paid Rs 50 lakh or more in the preceding financial year or in the current financial year
It has been brought to the notice of the Board that certain doubts have arisen in respect to activities undertaken by authorized motor vehicle dealers and service stations
This notification is applicable only to the recipients of income on behalf of the Institution and not to any other receipt or income of such recipients. Taxability or, otherwise of the income of the Institution would be separately considered as per the provisions of the Income-tax Act, 1961
Kind attention is invited to paragraph 3.6.4.5 of the Foreign Trade Policy, 2004-09 dealing with imports under Served from India Scheme (SFIS). In terms of this paragraph, duty credit scrip issued under SFIS can be used for import of any capital goods including spares, office equipment, professional equipment, office furniture and consumables that are otherwise freely importable under ITC(HS) Classification of Export and Import Items.
Amendment in Service Tax Rules, 1994 Date: 2nd November, 2006 Notification No. 29/2006 – Service Tax In exercise of the powers conferred by section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely :– 1. (1) […]
