Notification & Circulars

India : Central Govt issues 2 master circulars on service taxAugust 25, 2007 As a trade facilitation measure, the Central Government issued, here two consolidated circulars containing clarifications on issues relating to levy of service tax in lieu of all the clarifications is..

Posted in Service Tax

Scope of e-TDS expanded

Income-tax (Ninth Amendment) Rules, 2007 NOTIFICATION No. 238/2007, dated 30-8-2007 In exercise of the powers conferred by section 295 read with sub-section (3) of section 200 and proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 (43 of 1961), the Central Board of Di..

Posted in Income Tax

Import and Export Through Courier

Circular No.31/2007 (Customs) F.No.450/97/2005-Cus. IV Government of India Ministry of Finance Department of Revenue {Central Board of Excise & Customs} *** New Delhi, dated 29th August, 2007 To All Chief Commissioners of Customs, All Chief Commissioners o..

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Delhi HC Rules 4% VAT on Select IT Products

Delhi HC Rules 4% VAT on Select IT Products Giving a breather to the channels, the Delhi High Court has ruled that the products debated under Value Added Tax (VAT) will be taxed at 4%, the national capital-based Computers and Media Dealers Association (CMDA) has claimed.In an e-mail communiqu with ..

Posted in VAT

Amortization of Preliminary Expenses

NOTIFICATION NO. 236/2007, DATED 24-8-2007 It is hereby notified for general information that the organization Engineers India Limited, New Delhi has been approved by the Central Government for the purpose of clause (a) of sub-section (2) of section 35D of the Income-tax Act, 1961, for the period..

Posted in Income Tax

Aircraft (Amendment) Bill

NEW DELHI: A bill to enhance powers of Directorate General of Civil Aviation, increase penalties for violation of aviation laws and ensure proper safeguards in safety and security areas was passed by Lok Sabha on Monday. The Aircraft (Amendment) Bill, 2006 was passed by a voice vote without any disc..

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Guidelines for Overseas Investments by Venture Capital Funds

CIRCULAR NO. SEBI/VCF/CIR NO. 1/ 98645 /2007, DATED 9-8-2007 1. SEBI registered Venture Capital Fund (VCFs) are permitted to invest in securities of foreign companies in terms of regulation 12(ba) of the SEBI (Venture Capital Funds) Regulations 1996. Reserve Ba..

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Future approach towards monitoring of frauds in NBFCs

CIRCULAR NO. DNBS.PD.CC. NO. 106 /03.10.42/2005-06, DATED 4-9-2007 Please refer to Company Circular 59 dated October 26, 2005 on the captioned subject. It was advised in terms of paragraph 3.1.4 thereof that FMR-1, in cases where the amount involved in fraud is Rs 25 lakhs and above shall..

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