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DGCA allows in-flight use of mobiles, laptops on flight mode

April 24, 2014 1333 Views 0 comment Print

Prior to the change, the regulations clearly barred the use of cellphones during all phases of a flight. Passengers were only allowed to switch the phones on after the plane had landed and taxied off the active runway

Govt. invites Suggestions for Budget 2014-15 regarding changes in direct and indirect taxes

April 17, 2014 598 Views 0 comment Print

F.No.334/8/2014-TRU In the context of formulating the proposals for the Union Budget 2014-15, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may, therefore, like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same. Suggestions may also be given for simplification and rationalization of duties and taxes.

CDBT Directive On Opposing Mergers/ Amalgamations/ De-Mergers before HC

April 11, 2014 7987 Views 0 comment Print

F.NO.279/MISC./M-171/2013-ITJ In this connection Circular No 1/2014 dated 15.01.2014 has been issued by MCA to Regional Directors which lays down that while furnishing any report regarding reconstruction or amalgamation of companies under the Companies Act, comments and inputs from the Income Tax Department may invariably be obtained so as to ensure that the proposed scheme of reconstruction or amalgamation has not been designed in such a way as to defraud the Revenue and consequently being prejudicial to public interest. It has further been said that the Regional Directors

Govt fixes PPF Minimum initial Subscription at Rs. 100 & allows online payment

April 10, 2014 8128 Views 0 comment Print

Central Government has vide Notification No. GSR 225(E), Dated – 13-3-2014 fixed initial minimum subscription in PPF at Rs. 100 by amending the para 4 of Public Provident Fund Scheme 1968. Earlier there was no minimum fixed amount of deposit for opening of PPF account but the condition was that amount of initial subscription shall be integral multiples of Rs.5.

Easy Withdrawal on closure of saving a/c maintained at Post Offices if interest payment is not involved

April 9, 2014 667 Views 0 comment Print

Notification No. GSR 220(E), Dated-13-03-2014 In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Account Rules, 1981, namely:— 1. . (1) These rules may be called the Post Office Savings […]

Regarding Automatic maturity of Post Office Time Deposit account

April 8, 2014 1729 Views 0 comment Print

Notification No. GSR 222(E) , DATED 13-3-2014 In exercise of the powers conferral by Section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:— 1. (1) These rules may be called the Post Office […]

Export to Iran under Para 2.35 (b) of Foreign Trade Policy, 2009-2014

April 3, 2014 802 Views 0 comment Print

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. Further, re-export of food, medicine and medical equipments will not be subject to minimum value addition recjuirement. The ITC(H5) codes for these goods will cover Chapters Z3,4,7-11.

CBDT Notifies SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) , ITR-V FOR a.y. 2014-15

April 1, 2014 53956 Views 0 comment Print

Notification No. 24/2014-Income Tax S.O.997(E). – In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (4th Amendment) Rules, 2014.

Notification No. 9/2014-Customs, Dated: April 01, 2014

April 1, 2014 342 Views 0 comment Print

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

Seeks to amend Notification No. 96/2008-Customs, Dated: 13.08.2008 (DFTP scheme for LDCs )

April 1, 2014 603 Views 0 comment Print

(a) in Appendix I, for the Table, the following Table shall be substituted, (b) for Appendix II, the following shall be substituted, namely:-

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