Corporate Law Reporter - The Daily Journal

The TPO can select any method to determine actual income

Ratio of the Case: In order to determine the true income of an Assessee in a transaction concerned with its Parent in another country, the Transfer Pricing Officer can select methods other then the ones used by Assessee to determine the actual income. CLR Editorial Notes: The assessee is a wholly owned subsidiary of a… Read More

Defence Acquisition Council Approves Major Changes in procurement processes

With the twin objective of infusing greater efficiency in the procurement process and strengthening the defencemanufacturing base in the country, the Defence Acquisition Council, the apex decision making body of the MoD, took a series of decisions today, including amendments to Defence Procurement Procedure (DPP). The Defence Minister Shri AK Antony, who chaired the Council meeting, said the only way forward for the country is rapid… Read More

If DTAA is silent, no obligation to deduct surcharge & education cess

CLR Editorial Notes: The assessee, in this case bearing relevance to Section 195 of the IT Act, had made a remittance of management fee with interest to a resident of France. The Assessing Officer on review of this transaction, held that in deducting the TDS thereon under section 195 of the IT Act, the assessee… Read More

Chapter 5 of the Handbook of Procedures (Volume I) of EPCG Scheme as effective from 18 April 2013

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY (PART-I, SECTION-1) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No.01(RE-2013)/ 2009-2014 NEW DELHI, DATED THE 18th April, 2013 In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby notifies Chapter 5 of the Handbook of… Read More

Amendments in Chapter 4 of the Handbook of Procedures (Volume I)

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY (PART-I, SECTION-1) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No. 02 (RE-2013)/ 2009-2014 NEW DELHI, DATED THE 18th April, 2013 In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-2014,the Director General of Foreign Trade hereby notifies the following amendments… Read More

Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1 SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE No. 3 (RE 2013)/2009-14 DATED: 18th April, 2013 Subject : Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14 -Appendix 37A, Appendix 37C and Appendix 37D of Handbook of Procedure (Vol. I). In… Read More

Amendment in Para 2.12 of Handbook of Procedure Vol. I, of FTP 2009-2014

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1, SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 4 (RE 2013)/2009-2014 NEW DELHI, DATED THE 18TH APRIL, 2013 Subject: Amendment in Para 2.12 of Handbook of Procedure Vol. I, 2009-2014. In exercise of powers conferred… Read More

Enabling employees to work from a place outside the EOU/EHTP/STP/BTP

To be published in the Gazette of India Extraordinary Part-I, Section-I Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 5 (RE-2013)/2009-2014 New Delhi, Dated the 18th April, 2013 Subject: Enabling employees to work from a place outside the EOU/EHTP/STP/BTP. In exercise of powers conferred under Paragraph… Read More

Addition of two new ports for import of new vehicles

To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 06 (RE 2013)/2009-2014 New Delhi, Dated: 18th April, 2013 S.O.(E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22… Read More

Import policy of cars manufactured prior to 1st January, 1950

To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 5 (RE 2013)/2009-2014 New Delhi, Dated: 18th April, 2013 S.O.(E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22… Read More

DGFT Amendments in Para 8.3 (c) and 8.4 of the FTP pertaining to Deemed Exports Scheme

To be published in the Gazette of India Extraordinary Part II, Section 3, Sub-Section (II) Government of India Ministry of Commerce and Industry Department of Commerce Udyog Bhawan Notification No. 4 (RE-2013) /2009-2014 New Delhi, dated : 18th April, 2013 S.O-- (E) : In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act,… Read More

DGFT – Amendments in Chapter 4 of the Foreign Trade Policy 2009-2014.

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION-3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE NOTIFICATION NO. 02 (RE-2013)/ 2009-2014 NEW DELHI, DATED THE 18th April, 2013 In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with paragraph 1.2 of… Read More

DGFT Amends Chapter 3 of Foreign Trade Policy 2009-14

To be published in the Gazette of India Extraordinary Part II Section 3, Sub Section (II) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi Notification No: 3 (RE-2013)/2009-2014 New Delhi, dated : 18/4/2013 S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act,… Read More