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Notification & Circulars


Clarification regarding applicability of provisions of Sec194I

 

Clarification regarding applicability of provisions of Section 194-I to payments made by the customers on account of cooling charges to the cold storage owners CIRCULAR NO. 1/2008, DATED 10-1-2008 Representations have been received from various quarters regarding applicability of the provisions of..

Posted in Income Tax

SECURITIES LENDING & BORROWING SCHEME

 

Securities Lending & Borrowing Scheme   CIRCULAR NO. 2/2008, DATED 22-2-2008   Securities and Exchange Board of India (SEBI) vide Circular No. MRD/DoP/SE/DEP/Cir. 14/2007, dated 20-12-2007, has decided to permit all classes of investors (individuals, institutional, etc.) to short s..

Posted in Income Tax

Advance Service Tax

 

Advance Service Tax Notification No. 4/2008-Service Tax     In exercise of the powers conferred by sub-sections (1) and (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely..

Posted in Service Tax  1 comments

Amendment in Export of Service Rule

 

  Amendment in Export of Service Rule   Notification No. 5/2008-Service Tax     In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Export of Services..

Posted in Service Tax

Insertion in ST provided from Outside India & Recd in India

 

    Insertion in Taxation of Services provided from Outside India & Received in India   Notification    No. 6/2008-Service Tax       In exercise of the powers conferred by sections 93 and 94, read with section 66A of the Finance Act, 1994 (32..

Posted in Service Tax

Works Contract (Composition Scheme for Payment of ST)Rule

 

    Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007   Notification  No. 7/2008-Service Tax       In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes..

Posted in Service Tax

Substitutions in Notification No No. 6/2005

 

Substitutions in Notification No No. 6/2005   Notification No. 8/2008-Service Tax   In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to ..

Posted in Service Tax

No Charge for Balance Enquiry through ATM

 

No Charge for Balance Enquiry through ATM     Reserve Bank of India has announced a good news for all the users of ATM.  Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India. Banks have been deployi..

Posted in Others

Adopt electronic Medium for Bulk Payments to ensure Safety

 

Adopt electronic Medium for Bulk Payments to ensure Safety   Recognising the importance of ensuring the safety and security of the payment systems, Reserve Bank of India (RBI) has put in place three modes of electronic payments, namely:-      ..

Posted in Others

New approach towards monitoring of frauds in NBFCs

 

RBI-2007-2008/257 DNBS.PD.CC. No.112 /03.10.42/2007-08 With Referance to Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under: Para 2.2- Cases of 'negligence and cash shortages' and 'irregularities in foreign exchange transactions' referred t..

Posted in Others