All India Roll Out of Risk Management System (RMS) for Export

Finance Minister Shri P. Chidambaram today inaugurated the All India rollout of an IT based Risk Management System (RMS) for the Customs clearance of export goods in the presence of representatives from the trade and industry at New Delhi. Speaking on the occasion Finance Minister said that RMS is a trust based IT system that… Read More

Tags: BangaloreChennaiCustoms brokingIndiaNew DelhiRisk managementTrade FacilitationWorld Trade Organization

Delhi High Court judgment issues seven Mandamus for action by the Income Tax Department

INSTRUCTION NO. 12/2013 DATED 9-9-2013 Hon'ble Delhi High Court vide its judgment in case Court On Its Own Motion v. UOI in W.P.(C) 2659/2012, dated 14.3.2013 has issued seven Mandamus for action by the Income Tax Department. One Mandamus is on compliance of section 245 of the Income-tax Act, 1961. 2. The Hon'ble High Court in this context had issued… Read More

Tags: BangaloreDelhi High CourtHonIncome taxIncome Tax DepartmentMandamusTaxation in IndiaThe Honourable

Case Laws :: Sec 192 explains TDS obligation on Medical Reimbursement & LTC components of a CTC of an employee

CLR Editorial Notes: In this case related to TDS and LTC of an employee, it was noticed that the assessee (in this case - Infosys BPO, Bangalore) had recruited employees under a contract of employment which provided the salary as a ˜cost to company™ or ˜CTC™. Once the employee had determined the CTC, he/she was permitted… Read More

Tags: BangaloreBusinessCommissioner of ITCommonwealth Law ReportsIncome taxIT ActLeave Travel AllowanceLTCPaymentSalarySection 192 of the IT ActTax Deducted at SourceTDS

CBDT Amendment in Order No. 1/FT&TR/2013 dated 13th Aug 2013

ORDER In exercise of powers conferred by clause (a) of sub-section (15) of Section 144C of theIncome-tax Act, 1961 (43 of 1961) r/w Income-tax (Dispute Resolution Panel) Rules. 2009, as amended by Notification No. 33/2012 (F.No. 133/13/2012-SO(TPL)/SO 1967 (E), dated 24-08-2012, and in partial modification to Order No.l/FT&TR/2013 dated 13.08.2013, the Central Board of Direct Taxes hereby constitutes the Dispute Resolution Panel… Read More

Tags: BangaloreChennaiDelhiDispute resolutionIncome taxMumbaiPuneTaxation in India

Extension of Visa on Arrival To 4 more locations

Ministry of Home Affairs (MHA) has decided to extend Tourist Visa on Arrival facility (TVoA) at four additional airports viz. Trivandrum, Bangalore, Hyderabad & Kochi. TVoA facility is available at four International airports in the country viz. Delhi, Mumbai, Chennai and Kolkata for the nationals of Japan, Singapore, Finland, Luxembourg, New Zealand, Cambodia, Laos, Vietnam,… Read More

Tags: BangaloreChennaiKolkataLok SabhaMinistry of Home AffairsNew ZealandPhilippinesVisa

Central Vigilance Commissioner Inaugurates Delhi Chapter of Vigilance Study Circle

Shri Pradeep Kumar, Central Vigilance Commissioner has asked Institutions and Organisations working in vigilance sector to collaborate with like minded people and organisations for strengthening of vigilance administration. Inaugurating the Delhi NCR chapter of Vigilance Study Circle in New Delhi today, Shri Kumar said vigilance officers have a greater role to play as the acceptance… Read More

Tags: BangaloreCentral Vigilance CommissionCVCIndiaKeralaKolkataMumbaiNew Delhi

60 Agri Export Zones Set up

The Government has setup several Agri Export Zones in different parts of the country. The details of 60 AEZs set-up in different part of the country state -wise and location-wise are as follow.  All the 60 AEZs notified by DGFT have completed their span of five years. Annexure I Annexure I  State-wise and location wise details of agri export zones  # State AEZ… Read More

Tags: Andhra PradeshBangaloreHimachal PradeshIndiaJammuKarnatakaKrishna DistrictKupwara

Overwhelming Response for e-filing from Every Corner of the Country

Overwhelming Response for e-filing from Every Corner of the Country; More than 82 Lakh Returns E-Filed till 29th July, 2013 which is More than 40% of the Returns e-filed during the Same Period Last Year; Record Peak of more than 85,000 Returns Per Hour Achieved The due date for filing of Income Tax Return for… Read More

Tags: 31st July 2013BangaloreCBDTFiling (legal)Income taxTaxTax ReturnTaxation in India

Government approves Free Trade LPG (FTL) Scheme for selling 5kg LPG Cylinders through COCO Retail Outlets

Government approves Free Trade LPG (FTL) Scheme for selling 5kg LPG Cylinders through COCO Retail Outlets ; Scheme to be launched on Pilot Basis in Four Metro & Bangalore cities ; COCO Retail Outlets to sell 5 kg LPG cylinders at Non-domestic prices ; The Scheme introduces flexibility of time and quantity in getting LPG to benefit mobile… Read More

Tags: BangaloreLanguagesLiquefied petroleum gasLispProgrammingSchemeUnique Identification Authority of IndiaVeerappa Moily

SEBI Arbitration Mechanism in Stock Exchanges – Investor Service Centres

CIRCULAR CIR/MRD/ICC/21/2013 05.07.2013 The Managing Director/Executive Director, All Stock Exchanges with nation-wide terminals Dear Madam/Sir, Subject: Arbitration Mechanism in Stock Exchanges 1. Reference may be made to circulars no. CIR/MRD/DSA/24/2010 dated August 31,2010, CIR/MRD/SA/03/2012 dated January 20, 2012 and CIR/MIRSD/2/2012 dated February 15, 2012 regarding investor service centres providing inter alia arbitration facility (arbitration as well as appellate arbitration).… Read More

Tags: BangaloreGurgaonLucknowPatnaSEBISecurities & Exchange Board of IndiaStock exchangeVadodara

CBEC Extends 24×7 Customs Clearance Facility for Export Cargo from 1ST July, 2013

Beginning 1st July, 2013, Customs clearance of all export goods will take place on 24x7 basis from four major Air Cargo Complexes/airports i.e., Bangalore, Chennai, Delhi and Mumbai. Thus, all exports including those made under export incentives scheme as well as duty drawback scheme will now be able to be move out of the country… Read More

Tags: BangaloreChennaiCustoms brokingDelhiExportKandlaKolkataMumbaiTRAI

UCBs – Fraud Monitoring Cell of Reserve Bank of India, to function from Bengaluru from July 1, 2013

RBI/2012-13/531 UBD.CO.BPD. (PCB). Cir. No. 55/12.05.001/2012-13 June 13, 2013 Chief Executive Officers All Primary Urban Co-operative Banks Madam/Dear Sir Fraud Monitoring Cell of Reserve Bank of India, to function from Bengaluru from July 1, 2013 Please refer to the Press Release No. 2012-2013/2045 dated June 5, 2013 hosted on the RBI website. 2. It would be observed… Read More

Tags: BangaloreGeneral managerIndiaPress ReleaseReserve Bank of IndiaUrban area

15 firms face criminal charges for Labour law violations

At least 15 leading private infrastructure and  construction companies, who were executing work for the Bangalore based Namma Metro project, have been slapped with criminal cases by the Union Ministry of Labour and Employment for allegedly violation of labour laws. A report was submitted by the Deputy Chief Labour Commissioner (Central), Ministry of Labour and Employment, Bangalore,… Read More

Tags: BangaloreConstruction workerIndiaKarnataka High CourtLabourLabour lawMinistry of Labour & EmploymentNamma Metro

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