CBDT directs I-T Officers to adhere to Circular 1/2013 issued in relation to deductions under Secs. 10A, 10AA and 10B
Posted Date : 20-Nov-2013 , 04:49:22 pm | Posted By: CASANSAAR
A clarificatoryCircular No. 01/2013, dated 17-1-2013(hereinafter referred to as 'Circular') was issued by CBDT to address various contentious issues leading to tax disputes in cases of entities engaged in export of computer software which are availing tax-benefits under sections 10A, 10AA and 10B of the Income-tax Act, 1961.
2.Instances have been reported where the Assessing Officers are not following the clarifications so issued and are taking a divergent view even in cases where the clari...
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Clarification in respect of Circular No.5/2010
Posted Date : 20-Nov-2013 , 10:27:21 am | Posted By: CASANSAAR
Section 144C, providing for reference to Dispute Resolution Panel (DRP), was inserted in the Income-tax Act, 1961 by Finance (No.2) Act, 2009. Sub-section (1) of section 144C reads as under:
"The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment (hereinafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of...
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Income Tax |
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Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU)/Letter of Comfort (LoC) by ADs
Posted Date : 20-Nov-2013 , 10:23:03 am | Posted By: CASANSAAR
RBI/2013-14/374A.P. (DIR Series) Circular No. 75
November 19, 2013
ToAll Category - I Authorised Dealer Banks
Madam / Sir
Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU) /Letter of Comfort (LoC) by ADs
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 87 dated April 17, 2004andA.P. (DIR Series) Circular No. 24 November 1, 2004relating to the Trade Credits for imports...
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FEMA |
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MCA clarification on applicability of Section 372A of of Companies Act, 1956
Posted Date : 20-Nov-2013 , 10:14:35 am | Posted By: CASANSAAR
Consequent tonotificationof Sec 185 of Companies Act 2013 (dealing withloans todirectors) and which is corresponding to Section 295 of the Companies Act, 1956, MCA has received several representations. Section 186 of the Companies Act, 2013 is yet to be notified.MCA has now clarified that Sec 372A of the Companies Act 1956 (dealing with inter-corporateloans) continues to remain in force till Sec 186 of Companies Act 2013 is notified. Text of theNotificationis as follows :-
GeneralCircular18/201...
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Regarding filing of Audit report by dealers having turnover of RS.10 crores or more during 2011-12 or 2012-13 in Form AR-1.
Posted Date : 18-Nov-2013 , 08:23:53 pm | Posted By: CASANSAAR
In continuation to Notification No.F.7( 420)/Policy/VAT/2011/1203-1213 dated 11/02/2013 regarding filing of Audit report by dealers having turnover of RS.10 crores or more during 2011-12 or 2012-13 in Form AR-1.
In continuation to Notification No.F.7(420)/Policy/VAT/2011/1203-1213 dated11/02/2013 regarding filing of Audit report by dealers having turnover of RS.10 crores ormore during 2011-12 or 2012-13 in Form AR-1, I, Prashant Goyal, Commissioner ValueAdded Tax, in exercise of the powers conf...
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VAT |
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Filing of online return for 2nd quarter of 2013-14
Posted Date : 18-Nov-2013 , 04:59:16 pm | Posted By: CASANSAAR
In partial modification to this department’s Circular No.18 of 2013-14 on the subject cited above and in exercise of the powers conferred under Rule49A of the Delhi Value Added Tax Rules, 2005, I, Prashant Goyal, Commissioner,Value Added Tax, do hereby extend the last date of online filing of second quarterreturn for the year 2013-14, in Form DVAT-48, alongwith required enclosures to20-11-2013....
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VAT |
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I-T Department lays down procedure to deal with e-returns held as
Posted Date : 18-Nov-2013 , 02:55:44 pm | Posted By: CASANSAAR
Kindly refer to the above (Ref : System Letter of even no., dated 22-10-2013), the first batch of PAN-wise data for AY 2013-14 for assessees who have not paid self-assessment-tax (Rs. 100/- or more) on the day of filing of their e-returns was placed on i-Taxnet (http://10.152.2.10/) in the following path :
Resources → Downloads → DIT_SYSTEMS → Unpaid Self-Assessment-Taxes in e-Returns of AY 2013-14
2.I have been directed to inform you that in view of the confusion regarding issu...
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Income Tax |
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UCBs - Undertaking of Activity as PAN Service Agent for providing PAN Issuance Services to its Customers by entering into tie-up with UTI Infrastructure and Technology Services Ltd
Posted Date : 14-Nov-2013 , 07:07:58 pm | Posted By: CASANSAAR
RBI/2013-14/371UBD.CO.BPD.(PCB) Cir No. 38/13.05.000/2013-14
November 14, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Undertaking of activity by the UCBs as PAN Service Agent (PSA) forproviding PAN issuance services to its customers by entering into tie-upwith UTI Infrastructure and Technology Services Ltd (UTIITSL)
We have been receiving requests from UCBs to allow them to undertake the activity of providing PAN issuance services to its custo...
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RBI |
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Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH)
Posted Date : 14-Nov-2013 , 02:52:33 pm | Posted By: CASANSAAR
RBI/2013-14/370UBD.BPD.PCB.Cir No.37/09.22.010/2013-14
November 14, 2013
The Chief Executive Officer ofAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) – Risk Weights and Provisioning
The Ministry of Housing & Urban Poverty Alleviation, Government of India has set up the Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) vide their Notification No.O-17034/122/2009-H da...
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RBI |
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RAJ-VAT efiling date of 2nd qtr 2013-14 is extended upto 24 Nov 2013.
Posted Date : 14-Nov-2013 , 12:51:12 pm | Posted By: CASANSAAR
Last date of 2nd qtr 2013-14 to be furnished by the class of dealers covered under sub rule (5)(b) of rule 19 is extended upto 24 Nov 2013....
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VAT |
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Filing of records of equitable mortgages with the Central Registry
Posted Date : 12-Nov-2013 , 06:40:58 pm | Posted By: CASANSAAR
RBI/2013-14/369DNBS.(PD).CC.No.360 /03.10.001/2013-14
November 12, 2013
All NBFCs
Dear Sirs,
Filing of records of equitable mortgageswith the Central Registry
The Central Government in exercise of the powers conferred under Section 21 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, has notified on 31st March, 2011 the establishment of the Central Registry at New Delhi and entrusted the operations and administration of the Centra...
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RBI |
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DVAT Filing of online return for 2nd quarter of 2013-14 - extension of period thereof
Posted Date : 12-Nov-2013 , 08:28:59 am | Posted By: CASANSAAR
In partial modification to this department's Circular No.18 of 2013-14 onthe subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules,2005, I, Prashant Goyal, Commissioner, ValueAdded Tax, do hereby extend the last date of online filing of second quarterreturn for the year 2013-14, in Form DVAT-16 and DVAT-17, alongwith required annexures, and submission of hard copy of acknowledgement in Form DVAT-56,as per schedule given below:...
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VAT |
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Foreign investment in India - participation by SEBI registered FIIs, QFIs and SEBI registered long term investors in credit enhanced bonds
Posted Date : 12-Nov-2013 , 08:19:22 am | Posted By: CASANSAAR
RBI/2013-14/368A. P. (DIR Series) Circular No.74
November 11, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Foreign investment in India - participation by SEBI registered FIIs, QFIs and SEBI registered long term investors in credit enhanced bonds
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotificatio...
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FEMA |
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Import of Gold by Nominated Banks /Agencies/Entities
Posted Date : 12-Nov-2013 , 08:18:35 am | Posted By: CASANSAAR
RBI/2013-14/367A. P. (DIR Series) Circular No.73
November 11, 2013
To
All Scheduled Commercial Banks which are Authorised Dealers (ADs) inForeign Exchange/ All Agencies nominated for import of gold
Madam / Sir,
Import of Gold by Nominated Banks /Agencies/Entities
Attention of Authorised Persons is drawn to the Reserve Bank’sA.P. (DIR Series) Circular No. 25 dated August 14, 2013on the captioned subject.
2. Government of India and the Reserve Bank of India have been receiving represe...
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FEMA |
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Foreign Direct Investment in Financial Sector
Posted Date : 11-Nov-2013 , 05:15:26 pm | Posted By: CASANSAAR
RBI/2013-14/366A. P. (DIR Series) Circular No.72
November 11, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Foreign Direct Investment in Financial Sector – Transfer of Shares
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Regulation 10(A)(v) of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No.FEMA.20/2000-RB dated May 3, 2000, as amended from ...
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FEMA |
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Regarding Exemption from payment of SAD to parts, components and accessories etc. of Mobile Handsets under Notification No. 21/2012-Cus, dated 17/03/2012-reg.
Posted Date : 11-Nov-2013 , 09:47:38 am | Posted By: CASANSAAR
Circular No. 43/2013-Customs
F.No.354/173/2013-TRU
Government of India
Ministry of Finance
(Department of Revenue)
Tax Research Unit
*****
New Delhi, dated the 8thNovember, 2013
To,
All Chief Commissioners of Customs.
All Chief Commissioners of Customs & Central Excise.
All Chief Commissioners of Central Excise.
All Directors General of CBEC.
Subject: Exemption from payment of SAD to parts, components and accessories etc. of Mobile Handsets under Notification No. 21/2012-Cus, ...
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Custom |
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Third party payments for export / import transactions
Posted Date : 11-Nov-2013 , 09:04:52 am | Posted By: CASANSAAR
RBI/2013-14/364A. P. (DIR Series) Circular No.70
November 8 , 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Third party payments for export / import transactions
Attention of Authorized Dealer Category – I banks is invited to various provisions ofFEMA Notification No. 14 dated May 3, 2000dealing with the manner of receipt & payment for trade transactions. Normally payment for exports has to be received from the overseas buyer named in the Export Declaration Form...
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FEMA |
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Amendment to the
Posted Date : 11-Nov-2013 , 09:03:44 am | Posted By: CASANSAAR
RBI/2013-14/363A.P. (DIR Series) Circular No. 69
November 8, 2013
To
All Category – I Authorised Dealer Banks
Madam / Sir,
Amendment to the “Issue of Foreign Currency Convertible Bonds and Ordinary shares(Through Depository Receipt Mechanism) Scheme, 1993”
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.11 dated September 5, 2005regarding issue of American Depository Receipts (ADRs)/ Global Depository Receipts (GD...
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FEMA |
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Electoral Trust Notification
Posted Date : 08-Nov-2013 , 04:23:13 pm | Posted By: CASANSAAR
S.O(E)
dated 07.11.2013
Electoral Trust Notification
...
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Corporate Laws |
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Delhi VAT
Posted Date : 08-Nov-2013 , 09:17:07 am | Posted By: CASANSAAR
1. Block R10 of CSTreturnfiledin Form1 is part ofthe return. For the convenience ofdealersrelaxationforfilingthe said block by 30th November, 2013 for the year 2009-10 and 31st December, 2013 for other years have been given for 2nd quarterreturnof 2013-14 only. However, non-filingof this block after the extended date shall involve imposition of penalty under ection 86 of the DVAT Act, 2004.
2. Filling up tax contribution in block R3 of DVATreturnfiledin FormDVAT-16 is being made non-mandatory...
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VAT |
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Due date for filing DVAT Audit Report in Form AR-I for the year 2012-13 has been extended to 02/12/2013
Posted Date : 07-Nov-2013 , 06:48:57 pm | Posted By: CASANSAAR
In partial modification of Notification No.7(420)/Policy/VAT/2011/1203-1213 dated11/02/2013 regarding submission of audit report in Form AR-I for the year 2012-13 bydealer having turnover of Rs.10 crores or more, I Prashant Goyal, Commissioner, ValueAdded Tax, in exercise of the powers conferred under Section 49 and 70 of the DelhiValue Added Tax Act, 2004 read with Rule 42A of the Delhi Value Added Tax Rules, 2005hereby extend the date of filing of the said report to 02/12/2013 instead of15/11/...
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VAT |
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CBDT notifies
Posted Date : 07-Nov-2013 , 06:35:07 pm | Posted By: CASANSAAR
In exercise of the powers conferred by clause (c) of sub-section (2) of section 80G of the Income-tax Act, 1961(43 of 1961), the Central Government hereby specifies 'Archery Association of India', New Delhi as an association for the purposes of said clause for the assessment years 2013-14, 2014-15 and 2015-16 provided that the conditions specified in said rule 18AAAAA shall remain fulfilled....
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Income Tax |
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Issue TDS certificates on time to customers: RBI to banks
Posted Date : 06-Nov-2013 , 08:14:57 pm | Posted By: CASANSAAR
RBI/2013-14/361DBOD.No.Leg.BC.65/09.07.005/2013-14
November 6, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Timely Issue of TDS Certificate to Customers
It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely.
2. The matter has been examined and with a view to protect interest of the depositors and for rendering better ...
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RBI |
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Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
Posted Date : 06-Nov-2013 , 08:13:55 pm | Posted By: CASANSAAR
RBI/2013-14/359DNBS.PD/ CC.NO.359 /03.10.001/2013-14
November 06, 2013
All NBFCs
Dear Sirs,
Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
A reference is invited to ourCircular No DNBS.PD/ CC.NO.316 /03.10.001/2012-13 December 20, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by March 31, 2013.
2. Reference is al...
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RBI |
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DVAT
Posted Date : 06-Nov-2013 , 03:40:52 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
(POLICY BRANCH)
VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002
No.F.7(420)/VAT/Policy/2011/PF /932-938 Dated:06/11/2013
CIRCULAR No. 22 of 2013-14
Sub – Clarifications for filing returns online.
Return forms DVAT-16 and Form1 along with annexures and DVAT-30 & 31 have beenamended vide notifications issued on 20-09-2013. Thus, the second quarter return of t...
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VAT |
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Formation of seven new districts in the State of Gujarat - Assignment of Lead Bank Responsibility
Posted Date : 06-Nov-2013 , 03:32:42 pm | Posted By: CASANSAAR
RBI/2013-14/358RPCD.CO.LBS.BC.No. 53 /02.08.001/2013-14
November 6, 2013
The Chairmen & Managing DirectorsAll Lead Banks
Dear Sir/Madam,
Formation of seven new districts in the State of Gujarat -Assignment of Lead Bank Responsibility
The Government of Gujarat vide The Gujarat Government Gazette Notification No. GHM/2013/69 to 75 /M/PFR/102013/139/L.I dated August 13, 2013 had notified the formation of seven new districts in the State of Gujarat. It has been decided to assign the...
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RBI |
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CBDT Instruction on Receipt/Revenue Audit Objections
Posted Date : 06-Nov-2013 , 08:49:35 am | Posted By: CASANSAAR
Instruction No. 16/2013
F. No.246/95/2013-A&PAC-I
Government of India
Ministry of Finance
Department of Revenue
CentralBoard ofDirect Taxes
New Delhi, the 31st October, 2013
To
All CCsIT (CCA), CCsIT/DGsIT
Subject: Revision of Instruction No. 09 of 2006 on Receipt/Revenue Audit Objections
Sir/Madam,
Reference is invited to Board’s Instruction No.9 of 2006 dated 7.11.2006 on Receipt/Revenue Audit Objections (hereinafter Instruction). It is a matter of concern that despi...
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Income Tax |
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Relaxation of last date and additional fee in filing of e-Form 23C for Appointment of Cost Auditor
Posted Date : 04-Nov-2013 , 09:24:11 pm | Posted By: CASANSAAR
Reference is invited to General Circular No. 14/2013 dated 3 rdSeptember,2013 throughwhich the last date of filing and to relax the additional fee applicable on e-form 23C wasextended up to 31 stOctober, 2013 or within 30 days of the commencement of the company’sfinancial year to which the appointment relates, whichever is later.
2. It has now been decided to extend the last date of filing and to relax the additional feeapplicable on e-form 23C to 30 thNovember, 2013 or within 30 days o...
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Corporate Laws |
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Foreign Direct Investment (FDI) in India
Posted Date : 01-Nov-2013 , 08:33:59 pm | Posted By: CASANSAAR
RBI/2013-14/356A.P. (DIR Series) Circular No.68
November 01, 2013
To
All Category – I Authorised Dealer banks
Madam/Sir,
Foreign Direct Investment (FDI) in India –definition of ‘group company’
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank videNotification No. FEMA. 20/2000-...
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FEMA |
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Investment portfolio of Urban Co-operative Banks (UCBs) Classification, Valuation and Provisioning
Posted Date : 01-Nov-2013 , 08:32:24 pm | Posted By: CASANSAAR
RBI/2013-14/357UBD.BPD.(PCB)CIR No. 36/16.20.000/2013-14
November 1, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Investment portfolio of Urban Co-operative Banks (UCBs)Classification, Valuation and Provisioning
Please refer to ourcircular UBD.No.PCB.Cir.16/16.20.00/2004-05 dated September 2, 2004, in terms of which Urban Co-operative Banks (UCBs) were advised that the limit of 25 per cent of total investments under Held to Maturity (HTM) category ...
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RBI |
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