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Services provided to exporters against FMS Scrips – Exemption to apply exporter-wise

June 13, 2013 883 Views 0 comment Print

(i) for the word and figure Volume I, the words and figures Volume I in terms of entitlement under paragraph 3.14.2 or against exports to the countries or regions specified in paragraph 3.14.4(e) or paragraph 3.14.5(e) of the Foreign Trade Policy, as the case may be shall be substituted

SEBI : (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013

June 12, 2013 712 Views 0 comment Print

n exercise of the powers conferred by sub-section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations,

Double Taxation Agreement with Monaco

June 12, 2013 1369 Views 0 comment Print

Notification No. 43/2013 – Income Tax SO 924(E) – Whereas an Agreement (hereinafter referred to as the said Agreement) between the Government of the Republic of India and the Government of the Principality of Monaco for the exchange of information relating to tax matters was signed at Monaco on the 31st day of July, 2012 ; And whereas, the date of entry into force of the said Agreement is the 27th day of March, 2013, being the date of later of the notifications of completion of the

DGFT – Two additional laboratories added for certification/grading of diamonds of 0.25 carats & above

June 12, 2013 652 Views 0 comment Print

To the existing authorised laboratories, two additional laboratories are added for purpose of certification/grading of diamonds of 0.25 carats & above. (xvi) International Gemological Institute (IGI) – Antwerp, Belgium; (xvii) International Gemological Institute (IGI) – Hong Kong.

Introduction of Basic Savings Account under Post Office Savings Account Rule 1981

June 12, 2013 3398 Views 0 comment Print

Introduction of Basic Savings Account under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding.

NBFCs not to be Partners in Partnership Firms – Clarifications

June 11, 2013 1000 Views 0 comment Print

NBFCs were advised vide CC No. 214/03.02.002/2010-11 dated March 30, 2011 that they are prohibited from contributing capital to any partnership firm or to be partners in partnership firms. In cases of existing partnerships, NBFCs were advised to seek early retirement from the partnership firms.

Import of live-stock products-Amendment in ITC (HS) 2012, Schedule 1 (Import Policy)

June 11, 2013 595 Views 0 comment Print

Import of all items / products under ITC (HS) Code 2309 ‘Preparations of a kind used in Animal Feeding’ shall be subject to a sanitary import permit to be issued by Department of Animal Husbandry, Dairying & Fisheries, Government of India, as per Section 3A of Live-stock Importation Act, 1898, as incorporated by Live Stock Importation (Amendment) Act, 2001 (Act No. 28 of 2001,29th August, 2001), or as amended from time to time.

Notification on Document Free IT Return of Trust & e-filing of audit report

June 11, 2013 6535 Views 0 comment Print

Notification No. 42/2013 – Income Tax Provided that where an assessee is required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of section 12A, section 44AB, section 80-IA, section 80-IB, section 80-IC, section 80-ID, section 80JJAA, section 80LA, section 92E or section 115JB of the Act, he shall furnish the same electronically

Iran notified as country eligible to avail benefits of Para 2.35 (b) of FTP, 2009-2014

June 10, 2013 900 Views 0 comment Print

Central Government hereby notifies Iran under paragraph 2.35 (b) of Foreign Trade Policy, 2009-2014. Accordingly, exports of such goods to Iran which have been imported against payment in freely convertible currency would be permitted against payment in Indian Rupees also, subject to at least 15% value addition.

Transfer Pricing – Audit Report Format for international & specified domestic transactions with additional disclosures

June 10, 2013 38291 Views 0 comment Print

Notification No. 41/2013 – Income Tax The CBDT has notified vide Notification No. 41 dated 10 June 2013, new Form 3CEB which includes reporting on specified domestic transactions. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E. Following are the additional international transactions required to be reported in new Form 3CEB: International transaction(s) in the nature of guarantee

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