Notification No. 63/2014-Income Tax Finance Minister has increased Limit Under Section 80C of the Income Tax Act to Rs. 1.50 Lakh vide Budget 2014 w.e.f. Assessment Year 2015-16 and now CBDT has inconformity with the 80C amendment increased the Limit for Investment in Bank Term Deposit for the Purpose Section 80C to Rs. 1.50 Lakh from earlier limit of Rs. 1 Lakh.
Notification No. FEMA. 325/RB-2014 In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations 2004 (Notification No. FEMA.120/RB-2004
G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.12/2012-Central Excise, dated the 17th March, 2012
Notification N0. 62/2014-Income Tax In exercise of powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments to the following notifications of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, namely:-
The Central Government vide Notification No. 31/2014–Customs (Tariff) dated November 11, 2014has extended Customs duty exemption on import of bunker fuels falling under Chapter 27 of the First Schedule
Provided also that nothing contained in this notification shall apply to the goods specified against serial number 65A of the said Table on or after the 11th day of May 2015
Notification No. 61/2014-Income Tax S.O. 2874 (E). – In exercise of the powers conferred by section 295 read with sub-clauses (iv), (v), (vi) and (via) of clause (23C) of section 10, clause (aa) of sub-section (1) of section 12A and clause (vi) of sub-section (5) of section 80G 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
Effect of this Notification: The Import Policy of ‘Natural Sands’ is revised. Now, import of sand will be subject to Plant Quarantine (Regulation of Import into India) Order, 2003.
Government of Andhra Pradesh and Directorate of Revenue Intelligence (DRI) shall finalize the modalities, including allocation of quantities to their respective authorized entities for export of the respective quantities of Red Sanders wood and shall complete the whole process of export latest by 30th April, 2015. This shall be subject to such orders, as passed by the Hon’ble High Court of Madras or such submissions as made before the Hon’ble High Court of Madras in WP No. 29273 of 2007 or such orders as passed by any other court, if any.
I, Sanjeev Khirwar, Commissioner, Value Added Tax, in exercise of the powers conferred under section 70 of the Delhi Value Added Tax Act, 2004 ( Delhi Act 3 of 2005), do hereby withdraw the filing of information related to statutory forms online in Form CD-1 notified vide Notification No.F.7(450)/Policy/VAT/2012/336-347 dated 12/07/2012 with effect from 05/03/2014.
