SECTION 92C OF THE INCOME-TAX ACT, 1961 - READ WITH RULE 10B OF THE INCOME-TAX RULES, 1962 - TRANSFER PRICING - COMPUTION OF ARM'S LENGTH PRICE - APPLICATION OF PROFIT SPLIT METHOD - WITHDRAWAL OF CIRCULAR NO. 2/2013, DATED 26-3-2013 CIRCULAR NO. 5/2013 [F. NO. 500/139/2012-FTD-I],DATED 29-6-2013 The Central Board of Direct Taxes had issued Circular No. 2 (hereinafter called "the Circular") on 26th March 2013 regarding application of Profit Split Method. 2. It is noticed the Circular appea...

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INCOME-TAX (EIGHTH AMENDMENT) RULES, 2013 - INSERTION OF RULE 21AC AND FORM NO. 10FC NOTIFICATION NO. 47/2013 [F.NO. 142/12/2013-TPL]/SO 1856(E),DATED 26-6-2013 In exercise of the powers conferred by sub-section (3) of section 94A read with 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 (8th Amendment) Rules, 2013. (2) ...

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1.Restructuring proposal of the Income-tax Department has been approved by Government on 23.05.2013 for the creation of a total 20,751 additional posts, and for carrying out various measures to increase the effectiveness of the Department. 2.The steps required to be taken to implement the Cadre Restructuring have been considered by the Board and it has been decided that its roll-out needs to be carried out in a planned and time-bound manner. It has therefore been decided to constitute a Core Co...

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In exercise of the powers conferred by sub-sections (1) and (2) of section 133 of the Finance Act, 2013 (17 of 2013), the Central Government hereby makes the following rules relating to commodities transaction tax, namely:- Short title and commencement. 1.(1) These rules may be called the Commodities Transaction Tax Rules, 2013. (2) They shall come into force on the 1st day of July, 2013. Definitions. 2.(1) In these rules, unless the context otherwise requires,- (a) "Act" means ...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19 June, 2013 NOTIFICATION S.O. 1768 (E).- In exercise of the powers conferred by sub-section(2) of section 115 of the Finance Act, 2013 (17 of 2013), theCentral Government hereby appoints the 1st day of July, 2013 asthe date on which Chapter VII of the said Act shall come intoforce. [Notification No. 45/2013: F.No. 142/09/2013-TPL] (Gaurav Kanaujia) Director to the Government of India...

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Government of India Ministry of Finance Department of Revenue New Delhi, the 14thJune, 2013 OFFICE ORDER No. 127/ 2013 The President of India is pleased to appoint Ms. Sudha Sharma, Member, Central Board of Direct Taxes as Chairperson of the Central Board of Direct Taxes (CBDT) in the Department of Revenue, Ministry of Finance in the pay scale ofRs.80,000/- (fixed) with the status of Special Secretary to the Government of India against the existing vacancy, from the date of her taking charg...

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NOTIFICATION NO. 43/2013 DATED 12/06/2013 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 procedu...

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification No. 41/2013 New Delhi, the 10thJune, 2013 INCOME-TAX S.O 1491 (E)-In exercise of the powers conferred bysub-sections (1) and (2) of section 92C,section 92Dandsection 92Eread withsection 295of theIncome-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the followin...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION No. 42/2013 New Delhi, the 11thday of June, 2013 Income-tax S.O.1513(E).─In exercise of the powers conferred bysection 295of theIncome tax Act, 1961 (43 of 1961),the Central Board of Direct Taxes hereby makes the following rules further to amend theIncome-tax Rules, 1962,namely:- 1. (1) These rules may be called the Income-tax (Seventh Amendment) Rules, 2013. (2) They shall b...

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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax & Tax Research Division) 7thFloor, 'C' Wing, Hudco Vishala Building, 14, Bhikaji Cama Place, New Delhi, the 8thMay, 2013 Subject : Circulation of the published Notifications of an Agreement between the Government of Republic of India and the Government of Gibraltar for exchange of information with respect to taxes in the Gazette of India (Extra ordinary)-reg. TheNotification o...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION No. 40/2013 INCOME-TAX New Delhi, the 6thday of June, 2013 S.O. 1464(E) -In exercise of the powers conferred byclause (v) of the Explanation to section 48of theIncome-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in thenotification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes publi...

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INCOME-TAX (FIFTH AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 30, 31 & 31A AND INSERTION OF FORM NOS. 16B & 26QB AND SUBSTITUTION OF FORM N0. 24Q NOTIFICATION NO. 39/2013 [F.NO.133/23/2013-SO(TPL)(Pt.)]/SO 1404(E),DATED 31-5-2013 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 196]), 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 Inc...

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CIRCULAR DBOD.NO.LEG.BC.100/09.07.005/2012-13,DATED 31-5-2013 As you are aware banks are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints. Such instances arise because either the forms are misplaced or a track is not ke...

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INCOME-TAX (FOURTH AMENDMENT) RULES, 2013 - INSERTION OF RULES 6AAD & 6AAE AND FORM NOS.3C-O & 3CP NOTIFICATION NO. 38/2013[F.NO.142/30/2012-SO(TPL)]/SO 1393(E),DATED 30-5-2013 In exercise of the powers conferred by section 295 read with sub-section (1) of 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 (Fourth ...

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INCOME-TAX (THIRDAMENDMENT) RULES, 2013 –AMENDMENTIN RULE 12 & SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V NOTIFICATIONNO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013 Inexerciseof 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(3rd...

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CIRCULAR NO. 04/2013 F.No 275/34/2011-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 17th April, 2013 Sub: Issuance of certificate for tax deducted at source in Form No. 16 in accordance withthe provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of theIncome-tax Rules 1962 -- regarding 1. Section 203 of the Income-tax Act 1961 (“the Act”) read with the Rule 31 of the Income-taxRules...

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F No. 5001139120. Government of lndia Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax and Tax Research-l Division) New Delhi, the 26ftday of March, 2013 Circular No. 03 /2013 Sub: Circular on conditions relevant to identify development centres engaged incontract R&D services with insignificant risk It has been broughto the notice of CBDT that there is divergence of views amongst the fieldofficers and taxpayers regarding the functional pro...

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F No. 500113912012. Government of lndia Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax and Tax Research-l Division) New Delhi, the 26ftday of March, 2013 Circular No. 02 /2013 Sub: Gircular on application of profit split method It has beel blought to the notice of CBDT that clarification is needed for selection of profit splitmethod (PSM) as most appropriate method. The issue has been examined in CBDT. lt'ishereby clarified that while select...

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MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION NO. 19/2013 Income Tax Dated 12/03/2013 In pursuance ofsub-clause (ii) of clause (a) of sub-section (1) of Section 138of theIncome Tax Act, 1961, the Central Government hereby specifies Director, Financial Intelligence Unit India (FIU-IND), Ministry of Finance for the purpose of the said sub-clause. [F.No.225/38/2013-ITA.II] (Richa Rastogi) Under Secretary to the Government of India ...

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SECTION 119 OF THE INCOME TAX ACT, 1961 - INCOME TAX AUTHORITIES - INSTRUCTIONS TO SUBORDINATE AUTHORITIES - ORDER FOR FACILITATING FILING OF IT RETURNS BY TAX PAYERS FOR F.Y. 2012-13 ON 30th & 31st MARCH, 2013 ORDER [F. NO. 225/45/2013/ITA.II],DATED 13-3-2013 The Financial Year 2012-13 closes on 31-3-2013. In view of holidays on 27th and 29th of March and thereafter, on 30th and 31st March, being Saturday and Sunday it is directed that all the Income-tax Offices through out India shall ...

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SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 - SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - FOUNDATION FOR REVITALIZATION OF LOCAL HEALTH TRADITIONS, BANGALORE NOTIFICATION NO. 13/2013 DATED 20-2-2013 It is hereby notified for general information that the organization Foundation for Revitalization of Local Health Traditions, Bangalore (PAN-AAATF 3402F) has been approved by the Central Government for the purpose ofcause (ii) of sub-section (1) o...

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NCOME-TAX (SECOND AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J AND FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ AND INSERTION OF FORM NO. 26B NOTIFICATION NO. 11/2013[F.NO.142/31/2012-SO(TPL)]/SO 410(E), DATED 19-2-2013 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, nam...

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SECTION 261 OF THE INCOME-TAX ACT, 1961 - SUPREME COURT - APPEALS TO - DELAY IN FILING OF SLP IN SUPREME COURT - FIXING OF RESPONSIBILITY LETTER NO. DGIT (L&R)/SOP FOR SLP/2012-13/04, DATED 4-2-2013 Please refer to the above. 2.I am directed to say that the delay in filing of SLP is a serious cause of concern. One of the reasons for delay in filing of SLP is inordinate delay in receiving the SLP proposals in the Directorate of Legal & Research. Even after conveying the concern of th...

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AMENDMENT IN NOTIFICATION NO. SO 2685(E), DATED 6-11-2012 - EXEMPTIONS - INTEREST ON BONDS/DEBENTURES - SPECIFIED COMPANIES AUTHORIZED TO ISSUE TAX-FREE, SECURED, REDEEMABLE, NOTIFICATION NO. 10/2013 DATED 5-2-2013 SO 321(E),.In exercise of the powers conferred byitem (h) of sub-clause (iv) of clause (15) of section 10of theIncome-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India in theMinistry of Finance,...

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Income-tax (First Amendment) Rules, 2013 – Insertion of rule 17CA and Form No. 10BC Notification No. 8/2013 [F. No. 142/20/2012-TPL], Dated 31-1-2013 In exercise of the powers conferred by clause (b) of section 13B, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (First Amendment) Rules, 2013. (2) They shall com...

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Income Tax - IT Gold Deposit Scheme, 1999 - Amendment in Notification No. GSR 634(E), dated 14-9-1999 Notification No. GSR 46(E) Dated 24-1-2013 The Central Government, with a view to bringing privately held stock of gold in circulation, reduce the country's reliance on import of gold and providing its owners with some income apart from freeing them from the problems of storage, movement and security of gold in their possession, had notified Gold Deposi...

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INCOMETAX NOTIFICATION NO-09/2013, Dated: January 31, 2013 Electoral Trusts Scheme, 2013 notified by CBDT Inexerciseof the powers conferred by clause (22AAA) of section 2 of theIncome-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following scheme for approval of electoral trusts, namely:- 1. Short title, commencement andapplication– (1) This Scheme may be called theElectoral Trusts Scheme, 2013. (2) It shall come into force on thedate ofits publication in the Of...

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Income Tax - IT Deduction Of Tax At Source - Interest Other Than Interest On Securities Notification No. 4/2013 Dated 24-1-2013 In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 the Central Government hereby notifies the National Skill Development Fund (PAN AABTN5824G) for the purpose of sub-clause (f) clause (iii) of sub-section (3) of said section. [F.NO.275/28/2012-IT(...

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ITAT's note on department's General Grievances in the matter of representation and adjudication of cases fixed before each bench of ITAT Delhi NOTE, dated 21-1-2013 The CIT-DR (Admn.), vide letter dated 27th December, 2012, (Annexure) has expressed their grievance with regard to cases fixed before each Bench, which usually exceed 20. She has stated that due to paucity of manpower with the Department and the large number of fixation, it becomes very difficult for the Departmental Repre...

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