Daily Archives: December 16, 2015

PAN card Application Form Documents required

PAN card Application Form Documents Required for PAN card Application Form ​The documents required to be submitted with the PAN application are specified in Rule 114 of the Income-tax Rules. The details of the documents required are also provided in the application form. Form No 49A (New PAN Application Form for citizen of India) Form… Read More »

Duplicate PAN Card Procedure

Duplicate PAN Card : Common Questions  Instead of applying the Duplicate PAN Card , can I apply new PAN card number ?​​​ A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot apply for obtaining another PAN. A penalty of Rs. 10,000/- is liable to be imposed under ​​Section… Read More »

How to Apply PAN Card (Permanent Account Number )

Apply PAN Card  Procedure to ​​Apply PAN Card  A person wishing to obtain PAN can apply for PAN by submitting the PAN application form (Form 49A/49AA) along with the related documents and prescribed fees at the PAN application center of UTIITSL or NSDL. Forms to Apply PAN Card  Click to Download Form 49A : Application for PAN… Read More »

CBDT Initiatives for reducing Tax Litigation

CBDT takes Initiatives for reducing Tax Litigation as a part of its initiatives to reduce grievances of the taxpayers The Central Board of Direct Taxes (CBDT) has issued a Circular revising the monetary limits for filing of appeals by the Department with the objective of reducing litigation as a part of its initiatives to reduce… Read More »

CBDT Significant decisions in 3 months for taxpayer services

CBDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer   The Central Board of Direct Taxes (CBDT) has taken a number of decisions over last three months with the objective of providing better taxpayer services,… Read More »

Indian Qualification for Rio Olympics -2016

The Minister of State (Independent Charge) for Youth Affairs & Sports, Shri Sarbananda Sonowal has said that 57 athletes (25 in individual events and 16 members each of men and women Hockey team) have already qualified for participation in Rio Olympics 2016. More sportspersons are expected to qualify for participation in Rio Olympics 2016 as… Read More »

20 Transactions for which PAN card is mandatory

Rules regarding quoting of PAN for specified transactions amended The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a… Read More »

Updates to Al-Qaida Sanctions List

Source :Reserve Bank of India RBI/2015-16/268 DBR. AML. No.7835/ 14.06.001/ 2015-16 December 15, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid… Read More »

Clarification on classification of Biodiesel under oleochemicals

INSTRUCTION F. No. 528/22/2015-STO (TU) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Tariff Unit) Room No. 227-B, North Block New Delhi 11th December, 2015 To All Pr. Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive) All Pr. Chief Commissioners /Chief Commissioners of Customs and Central Excise All Pr. Commissioners/Commissioners… Read More »

Fixation of Tariff Value of Edible oil, Brass, Poppy seed, Areca nut, gold and Sliver

Fixation of Tariff Value of Edible oil, Brass, Poppy seed, Areca nut, gold and Sliver [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification  No. 142/2015-CUSTOMS (N. T.) New Delhi, 15th December, 2015 24 Agrahayana,… Read More »

Notification No. 57/ 2015 – Customs

Seeks to further amend Notification No. 69/2011-Customs, dated 29th July, 2011 so as to provide a concessional rate of basic customs duty in respect of tariff item 84082020 [engines of a kind used for the propulsion of motor vehicles – of cylinder capacity exceeding 250 cc] and 87084000 [gear box and parts thereof, of motor… Read More »

CBEC Clarify manpower supply & Job Work for Service Tax

Applicability of service tax on the services received by apparel exporters in relation to fabrication of garments  Manpower Supply  ? Job Work ? Circular No.190/9/2015-Service Tax F.No.354/153/2014-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** Dated- 15th December, 2015 To, Principal Chief Commissioners of Customs and Central Excise(All) Principal Chief… Read More »