RTI & Income Tax Act, vis-à-vis a case law decided by SC

RTI & Income Tax Act, vis-à-vis a case law decided by SC Posted: 29 May 2013 08:37 PM PDT Whether A Person Can Refuse To Provide Information Relating To Its 'Personal' Income Tax Returns, Financial Statements Etc., If Such Information Is To Be Provided To A Government Body In The Course Of Application For Certain Licenses, Permits, Grants Etc. Power of ROCs to obtain declaration/affidavits from subscribers/first directors at incorporation Posted: 29 May 2013 08:30 PM PDT In exercise of the powers under the Companies Act, the Registrar of Companies may obtain declaration/affidavits from subscribers/first directors first at the time of incorporation and from directors, subsequently whenever company changes its objects Rotate Officers between Customs and Central Excise – CBEC Posted: 29 May 2013 07:08 PM PDT I am directed to reiterate the provisions of the Transfer Policy as contained in para 4.7 of the Transfer Policy dated 05.04.2011 that "the officers will, as far as possible, be rotated between the Customs and Central Excise branches every two years and adequate experience in Service Tax branch... DVAT 51 reconciliation return Qtr 1 to 4 of 2011-12 extended to 10/06/2013 Posted: 29 May 2013 12:20 PM PDT No.F.3(33)/P-II/ VAT/ Misc j2006/206-216 , Dated: 27/05/2013 Sub-rule (1) of Rule 67 of the Delhi Value Added Tax Rules, 2005 and Rule 4 of the Central Sales Tax(Delhi) Rules, 2005 for furnishing of reconciliation return in Form DVAT-51; and, DVAT – Registered Dealers to update their profile online by 30.06.2013 Posted: 29 May 2013 12:12 PM PDT All the dealers registered under the DVAT Act, as on 31-03-2013, shall furnish the name of manager of business, permanent account number and Importer Exporter Code (IEC) and any amendment in respect of their business activities etc. online on or before 30.06.2013, using their login ID and password.... Deemed export benefits are not available for supplies to Non-Mega Power Project – DGFT Posted: 28 May 2013 06:45 PM PDT Regarding :Clarification on admissibility of deemed export benefits under Para 8.2F of FTP. Policy Circular No 1 (RE-2013/2009-14) ,  Dated:  29th May, 2013 A reference has been received from trade seeking certain clarifications on admissibility of deemed export benefits under para 8.2(f) of FTP. ... Notification No. 56/2013-Customs (N.T.), Dated the 28th May, 2013 Posted: 27 May 2013 06:25 PM PDT  Notification No. 56/2013-Customs (N.T.), Dated the 28th May, 2013 S.O. ……(E) In exercise of the powers conferred by clause (a) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following further amendments in the notification of the...

Guidelines for Appointment of Statutory Auditors in Public Sector Banks wef Financial Year 2013-14

Guidelines for Appointment of Statutory Auditors in Public Sector Banks wef Financial Year 2013-14 Posted: 28 May 2013 08:35 PM PDT Based on the recommendations of a Working Group (WG) to review the norms for empanelment of statutory auditors for public sector banks and other related issues and after seeking the approval of GoI, it has been decided to revise the guidelines on appointment of statutory auditors in public sector... Service Tax On Services Provided – To – Educational Institutions – After Finance Act 2013 Posted: 28 May 2013 07:43 PM PDT In this article I am discussing the Service tax provisions in respect to the Services provided TO the Educational Institutions. An illustrative list of services provided to Educational Institutions - Works Contract Services, Renting Services, Transportation, Security Services, Information... No Condonation of Delay for gross negligence, inaction and laches Posted: 28 May 2013 07:36 PM PDT For condonation of delay, two questions are required to be seen (i) whether there is sufficient cause and it depends from case to case whether in given circumstances, sufficient cause has been established or not? (ii) Whether the law of limitation has to be enforced or the question of limitation... DGFT- Online application & issue of Registration Certificates for export of various commodities wef 1st July, 2013 Posted: 27 May 2013 09:53 PM PDT DGFT is happy to announce migration of the process of obtaining Registration Certificate (for export purpose only) from the existing manual mode to digital mode. With effect from 1st July, 2013 such registrations would be online and would be mandatory. This will be applicable for obtaining... Applicability/ Non-Applicability of Service Tax Negative List & Related Topics in syllabus of Part II from May 2013 examination onwards Posted: 27 May 2013 09:30 PM PDT The Examination Committee at its 498th meeting held on September 23, 2012 has decided that the following sections of the Finance Act, 1994/rules will be covered under point no. 1 (Concepts and General principles) and point no. 2 (Charge of service tax and taxable services) of syllabus of Part II:

Download ITR- 2 E Filing Utility for AY 2013-14 / FY 2012-13

Download ITR- 2 E Filing Utility for AY 2013-14 / FY 2012-13 Posted: 27 May 2013 08:41 PM PDT Income tax Department has released e-Filing Utility for ITR-  2 for Assessment year 2013-14 / Financial Year 2012-13. We have placed link for the same as the bottom of the article. We also discussed Who can use this Return Form?, Who cannot use this Return Form?, Manner of filing this Return Form... Corporate Borrowing – Giving Wings to Corporate World ! Posted: 27 May 2013 08:19 PM PDT A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor. A debt is created when a creditor agrees to lend a sum of assets to a debtor. In finance, debt is a means of using anticipated future... Tips & FAQs on filling of Appeal & Personal Hearing before CESTAT Posted: 27 May 2013 07:09 PM PDT The assessee may appear in person or by authorized council on its behalf before CESTAT. The council appearing for the tax payer should have all the details relating to facts of the case, submissions made before lower authorities and contrary views adopted by them in their respective orders. I-T Rules related to Furnishing of TDS Certificate requires Immediate amendment Posted: 27 May 2013 07:01 PM PDT Immediate amendment required in Income Tax Rule 31 Rule 31 of Income Tax Rules, 1962 requires that the certificate of  tax deducted at source to be furnished to the deductee within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A. (i.e. on... Income Tax Dept. Sent Letters to Another Batch of 35,000 Non-Filers Posted: 27 May 2013 06:54 PM PDT Income Tax Department Sent Letters to Another Batch of 35,000 Non-Filers; Government Once Again Urges all Tax Payers to Disclose Their True Income and Pay Appropriate Taxes As part of its ongoing initiative, the Income Tax Department has sent today i.e. 27th May, 2013 letters to another batch of... Section 40(a)(ia) applies to transaction made during the year Posted: 27 May 2013 06:39 PM PDT In the result, we are of the opinion that Section 40(a) (ia) would cover not only to the amounts which are payable as on 31th March of a particular year but also which are payable at any time during the year. Of course, as long as the other requirements of the said provision exist. In [...] No Penalty for addition merely due to application of deeming Provision U/s. 50C Posted: 27 May 2013 06:26 PM PDT The assessee sold the property at a sum of Rs.2,51,50,000/- For the purpose of stamp duty, however, the value was estimated at a sum of Rs.5, 19,77,000/- and on that basis the stamp duty was realized. During the assessment, it was found that the assessee had disclosed the sale price at a sum of... FM to Inaugurate 29th Annual Conference of CIT and DGIT 2013 Posted: 27 May 2013 11:55 AM PDT Union Finance Minister to Inaugurate Today 29th Annual Conference of Chief Commissioners of Income Tax and Directors General of Income Tax 2013 The Union Finance Minister Shri P. Chidambaram will inaugurate the 29th Annual Conference of Chief Commissioners & Directors General of Income Tax here... Restriction on grant of loan against gold bullion applies to gold ETFs and units of gold Mutual Funds Posted: 26 May 2013 09:27 PM PDT In this context, we have also been receiving references from certain banks asking whether advance against units of gold Exchange Traded Funds (ETF) and gold Mutual Funds is permitted. As these products are backed by bullion/primary gold, it is clarified that the restriction on grant of loan against... CBI Arrests A Deputy Director of ESIC In A Bribery Case Posted: 26 May 2013 09:25 PM PDT The Central Bureau of Investigation has arrested a Deputy Director, Employees State Insurance Corporation(ESIC), Bapunagar, Ahmedabad for demanding & accepting a bribe of Rs. 8,000/- from the Complainant.             A case was registered by CBI after receipt of the complaint against the Dy....