How to register as a Legal Heir to file Income Tax Return on behalf of deceased? Posted: 24 May 2013 08:30 PM PDT User should register as a Legal Heir to do e-Filing on behalf of the deceased. This is a new feature provided for Individual user. A Legal Heir can file Income Tax Return, View Status of Income Tax Return, ITR-V Acknowledgment and other filing status in respect of the Income Tax Return of the... |
Superintendent of Service Tax & An Income Tax Inspector jailed in Bribery case Posted: 24 May 2013 08:28 PM PDT The special Judge for CBI Cases, Bangalore has convicted Sri A. Vanangamudi, then Superintendent of Service Tax, Service Tax Commissionerate, Bangalore to undergo two years Simple Imprisonment with fine Rs.20,000/- in a bribery case. The investigation revealed that Sri A. Vanangamudi,... |
UIDAI launches Aadhaar based Iris Authentication, eKYC, One Time PIN Posted: 24 May 2013 08:28 PM PDT UIDAI launches Aadhaar based Iris Authentication, eKYC, One Time PIN New Services and Permanent Enrolment Centres Developing on its vision of 'Empowering residents of India with a unique identity and a digital platform to authenticate anytime, anywhere', the Unique Identification... |
Rupee Export Credit – Interest Subvention extended to 107 more tariff items in Textile & engineering good sector Posted: 24 May 2013 08:28 PM PDT It has been decided to widen the interest subvention scheme to the following sectors for the period April 1, 2013 to March 31, 2014, on the same terms and conditions: ITC(HS) and Textiles good to 6 tariff lines as per the list given in the Annex –I. Additional 101 tariff lines in engineering... |
Filling up of the post of Indirect Tax Ombudsman at Ahmedabad Posted: 24 May 2013 08:25 PM PDT I am directed to say that the post of Indirect Tax Ombudsman at Ahmedabad in the HAG + pay scale of Rs.75500-80,000/-, is likely to be filled up from amongst the officers of the Indian Customs & Central Excise Service. |
Assessment u/s. 153A can be made only on the basis of incriminating material found during the course of search Posted: 24 May 2013 08:12 PM PDT We have carefully considered the submissions and perused the records. We find that the value of the property in this case as reflected in the registered sale deed was Rs. 55,00,000/-. Reference u/s. 142A was made to the DVO by the Assessing Officer. DVO determined the value of the property at Rs.... |
No Interest disallowance for amount advanced without interest out of Interest free funds Posted: 24 May 2013 08:02 PM PDT In this case Assessing Officer noted that from the perusal of the balance sheet and Annexures it was noted that the assessee has taken loans from banks, amounting to RS. 8,32,93,610/- in the form of secured loan and also from other parties, amounting to Rs. 56,20,479/- in the form of unsecured... |
S. 2(22)(e) not applies to amount advanced for investment on behalf of company Posted: 24 May 2013 07:52 PM PDT the stand of the assessee has been that a sum of Rs. 12,00,000/- was given to the assessee company, consequent upon the Resolution passed by the Board of Directors of the said Company authorizing the assessee to invest on behalf of the company in units of M/s Reliance Equity Advantage Funds. This... |
No penalty merely because claim of the assessee was disallowed u/s.40(a)(ia) Posted: 24 May 2013 06:43 PM PDT It is a fact that assessee has claimed expenses aggregating to Rs.16,17,766/- and same were disallowed by the AO while completing the assessment under section 143(3) of the Act on the ground that assessee failed to deduct TDS. We observe that the genuineness of the claim of the assessee has not... |
ITAT allows Sub-Brokerage expenses against Real Estate Commission Income Posted: 24 May 2013 04:35 PM PDT The figures regarding earning of commission and sub-brokerage have already been mentioned in the above part of this order. The assessee has furnished full details regarding properties in respect of which she has earned commission income. Due to the oldness of the matter the assessee was unable to... |
Infrastructure Financing – Need of More Effective Ways Posted: 24 May 2013 09:25 AM PDT Infrastructure sector in India has not been able to perform to its full capacity, majorly due to the Government red tapes, lack of funds and very long gestation period in completion of the projects. With introduction of Public-Private-Partnerships (PPP), this scenario is expected to change.... |
Procedure for movement of excisable indigenous goods to Warehouses or retail outlets of Duty Free Shops Posted: 22 May 2013 09:52 PM PDT CIRCULAR NO 970/04/2013-CX, Dated: May 23, 2013 Subject: Procedure governing the movement of excisable indigenous goods to the Warehouses or retail outlets of Duty Free Shops appointed or licensed under the Customs Act, 1962 – Regarding In exercise of the powers conferred under sub-rule (2) of rule... |
No Need of registration of godown or retail outlet of a Duty Free Shop Posted: 22 May 2013 09:45 PM PDT Seeks to allow duty free sale of goods manufactured in India to the International passengers or members of crew at the DFSs located at the arrival / departure hall of International Airports and specify the procedures relating thereto. NOTIFICATION NO. 09/2013 Central Excise (N.T.), May 23, 2013 In... |
Officers of Customs having jurisdiction on Duty Free Shops appointed as CE Officers Posted: 22 May 2013 09:43 PM PDT Seeks to allow duty free sale of goods manufactured in India to the International passengers or members of crew at the DFSs located at the arrival / departure hall of International Airports and specify the procedures relating thereto. NOTIFICATION NO 08/2013 Central Excise (N.T.), Dated: May 23,... |
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