Notification & Circulars

Business Expenditure

Jt. C.I.T. Vs. Mukund Ltd. 02/15/2007 [2007] 291 ITR 249 (MUMBAI)[SB] Case Fact: Whether Non-refundable `Premium` paid for obtaining land on lease of 99 years at the annual rent of Re. 1 for factory use in industrial area to State Development Corporation is advance rent? Decision: Held by the Hon`bl..

Posted in Income Tax

Amendments to Rule 6DD!

INCOME-TAX (EIGHTH AMENDMENT) RULES, 2007 NOTIFICATION NO. 208/2007, dated 27-6-2007 In exercise of the powers conferred by section 295, read with proviso to sub-section (3) of section 40A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rule..

Posted in Income Tax

Consignee to issue TDS certificate to truck operators-Clarification by CBDT

Note : Last Alert was No 129 dated 26-6-2006 Alert -1- Tax Deduction at Source - Issue of TDS Certificate under section 203 of the Income-tax Act - Cases of Truck/Goods-carriage Operators - CIRCULAR NO 6/2006 Dated 23-6-2006 As per the provisions of section 203 of the Income-tax Act, read with rule ..

Posted in Income Tax

New Return Forms for Assessment Year 2007-08 matters connected thereto

New Return Forms for Assessment Year 2007-08 matters connected thereto reg. CIRCULAR NO. 5 / 2007, DATED 26-7-2007 The Central Board of Direct Taxes, vide notification S.O. No.762(E) dated 14th May, 2007 have notified following new return forms for assessment year 2007-08 under a new..

Posted in Income Tax

NOTIFICATION NO. 210/2007, DATED 27-7-2007

NOTIFICATION NO. 210/2007, DATED 27-7-2007 In exercise of the powers conferred by sub-section (1B) of sections 139 and 139D of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (3) of rule 12 of the Income-tax Rules, 1962 and in supercession of the Electronic Furnishing of Return of Income Sc..

Posted in Income Tax

Cost Inflation Index for FY 2007-08

NOTIFICATION NO. 214/2007, DATED 3-8-2007 Notified Cost Inflation Index for financial year 2007-08 In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent of the aver..

Posted in Income Tax

ECB Policy Review

RBI/2007-08/112 A. P. (DIR Series) Circular No. 04 August 7, 2007 To All Category – I Authorised Dealer Banks Madam / Sir, Review of External Commercial Borrowings (ECB) Policy Attention of Authorised Dealer Category - I (AD Category – I) banks is invited to A.P. (DIR Series) Circular..

Posted in Miscellaneous

Procedural issues in Service Tax-circular-reg.

CIRCULAR NO 97/6/2007-ST, Dated : August 23, 2007Subject:- Procedural issues in Service Tax-circular-reg. Since the inception of the levy of service tax vide Chapter V of the Finance Act, 1994 (hereinafter called the Act) and rules made thereunder from time to time, a number of circulars/clarificati..

Posted in Service Tax

Latest Circular on 'Service-Tax' :

CIRCULAR NO 97/6/2007-ST, Dated : August 23, 2007 Subject:- Procedural issues in Service Tax-circular-reg. Since the inception of the levy of service tax vide Chapter V of the Finance Act, 1994 (hereinafter called the Act) and rules made thereunder from time to time, a number of circulars/c..

Posted in Service Tax

Clarification on technical issues relating to taxation of services under the Finance Act, 1994--Regarding,

CIRCULAR NO 96/6/2007-ST, Dated : August 23, 2007 Sub: Clarification on technical issues relating to taxation of services under the Finance Act, 1994 – Regarding. Service Tax was introduced in the year 1994 with three taxable services. At present, one hundred services are specifi..

Posted in Service Tax