Taxation - Corporate Law Reporter

Income Tax Department Sent Letters Today to Another Batch of 35,000 Non-Filers

As part of its ongoing initiative, the Income Tax Department has sent today i.e. 27th May, 2013 letters to another batch of 35,000 non-filers. These persons were part of around 12 lakh non-filers identified as a result of data matching exercise. With this latest batch, the IT Department has now issued letters in 1,75,000 high priority cases. The response to this… Read More

IT Exemption u/s 35(1) (ii) for Scientific Research Expenditure to “Gujarat Energy Research And Management Institute”, Gandhi Nagar, Gujarat

It is hereby notified for general information that the organization "Gujarat Energy Research and Management Institute Gandhinagar (PAN-AAATG6316R) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules], from 01.04.2012 onwards in the category of… Read More

IT Exemption Under Section 35(1)(ii) for Scientific Research Expenditure to “Centre for DNA Fingerprinting and Diagnostics”, Hyderabad

It is hereby notified for general information that the organization "Centre for DNA Fingerprinting and Diagnostics, Hyderabad (PAN-AAATC2727J) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from 01.04.2012 onwards in the category… Read More

EPF / ESI Contribution not covered under Sec43B; Deduction u/s 36(1)(va) allowed only if paid within due date

In the assessment year 2008-09 the assessee in this case, collected employees™ contribution to the Provident Fund and ESIC, but did not pay it within the due date prescribed by the relevant legislation. The amount was, however, paid before the due date of filing the ROI. The Assessing Officer assessed the said amounts as income… Read More

Assessment of Charitable Trusts and Institutions

The Income-tax department has released a publication titled "Assessment of Charitable Trusts and Institutions". The publication explains the legal provisions and the procedural requirements for claiming exemption under the Income-tax Act, 1961 for charitable activities. Apart from explaining the concept of ˜Charitable Purposes™, the publication deals with the procedure for registration, assessment, denial of exemptions, incentives… Read More

CLR Snippets | Transfers And Postings Of Deputy, Assistant, Addl And Joint Commissioners

Vide Order No. 86 of 2013 dated 24.05.2013, the CBDT has ordered the transfers/ posting of several officers in the grade of Deputy/ Assistant Commissioner of Income-tax with immediate effect. Vide Order No. 87 of 2013 dated 24.05.2013, the CBDT has ordered the transfers/ posting of several officers in the grade of Additional/ Joint Commissioner… Read More

Central Excise Amendment – Duty Free Sales – Registration of Warehouses

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 09/2013- Central Excise (N. T.) New Delhi, the dated 23rd May, 2013 In exercise of powers conferred by sub-rule (2) of rule 9 of the Central Excise Rules, 2002, the Central Board… Read More

CBEC Amendment Circular – Duty Free Sales – Jurisdictions

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 08/2013- Central Excise (N. T.) New Delhi, the dated 23rd May, 2013 In exercise of powers conferred by clause (b) of section 2 of the Central Excise Act, 1944 read with sub-rule (1) of… Read More

Central Excise – Duty Free Sales – Extension of Facility of removal of all excisable goods

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 07/2013- Central Excise (N. T.) New Delhi, the dated 23rd May, 2013 In exercise of powers conferred by sub-rule (1) of rule 20 of the Central Excise Rules, 2002, the Central Government… Read More

CBEC Cicular – Duty Free Sales – Changes in Procedures

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION NO 19 /2013- Central Excise New Delhi, dated the 23rd May, 2013 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… Read More

CBEC Circular allowing Sales of Indian goods in Duty Free Shops to International Passengers

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION NO 18 /2013- Central Excise New Delhi, dated the 23rd May, 2013 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,… Read More

Govt Allows excise duty-free sale of goods manufactured in India at the Duty Free Shops

Excise Duty free Sale of Goods Manufactured in India Allowed to International Passengers or Members of Crew Arriving from Abroad and to Passengers Going Out of India at The Duty free Shops Located at International Airports of the Country. The Government issued notification today so as to allow excise duty-free sale of goods manufactured in… Read More

CLR Snippets | Restructuring of the Income Tax Department

The Union Cabinet today approved the proposal for creation of 20,751 additional posts in the Income Tax Department in various cadres that is 1349 additional posts in the IRS cadre and 19,402 additional posts in the non-IRS cadres. This will help the Income Tax Department collect increased revenue and provide better tax payers services. An… Read More