Notification No. 20/2014-Income Tax And, whereas, subsequently the Central Government (Ministry of Commerce and Industry) vide letter No.15/29/2005-IP&ID dated 3rd February, 2014 has withdrawn the said approval granted to the undertaking under the Scheme; Now, therefore, the Central Government, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Act read with section 21 of the General Clauses Act, 1897 (10 of 1897), hereby rescinds the said Notification No. S.O, 4700, dated 17th November, 2006, with effect from the 17th November, 2006.
Notification No. 19/2014-Income Tax CBDT has vide notification No. 19/2014 dated 26.03.2014 reduced the limit for issue of tax free bonds by Indian Railway Finance Corporation Limited (IRFC) to Rs, 8853 crore from earlier limit of Rs. 10,000 crore. The Notification Further Authorised IFCI Limited (formerly known as Industrial Finance Corporation of India) to issue tax free bonds up to Rs 430 crores.
Further, we would like to mention here that under Chapter IX (Accounts of Companies), Section 130 (Re-opening of Accounts on Court’s or Tribunal’s order), Section 131 (Voluntary Revision of financial statements or Board’s Report) and Section 132 (Constitution of NFRA) have not been notified till date. Also Section 245 (Class Action Suits) has not been notified now by MCA..
Government of India has vide their Notification dated March 25, 2014 notified that the maximum limit for investment in Inflation Indexed National Savings Securities- Cumulative has been increased to Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for Institutions such as HUFs, Charitable Trusts, Education Endowments and similar institutions
Agency banks doing Government business alone will be permitted to present instruments in the Special Clearing on other participating banks. Other member banks of the Clearing House (including the presenting banks) are required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing.
Whereas the State Government is satisfied that circumstances exist, which render it necessary to take immediate action in public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005)
Income Tax Notification No. 18/2014-Income Tax In exercise of the powers conferred by section 295 read with section 35CCC 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 (3rd Amendment) Rules, 2014.
Please refer to our circular RBI/2011-12/359 dated January 20, 2012 regarding interest rates on small savings schemes, wherein it was indicated that as per Government’s decision on revision of interest on small savings schemes, the interest rates on various small savings schemes for every financial year will be notified by the Government before April 1st of that year.
In exercise of the powers conferred by sub-section (2A) of Section 10E read with clause (a) of sub-section (1) of Section 642 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Company Law Board
Notification No. 17/2014-Income Tax SO 861(E) – In exercise of the powers conferred by clause (46) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Andhra Pradesh State AIDS Control Society a body constituted by the Government of Andhra Pradesh in respect of the following specified income arising to that Society, namely:—
