Taxclick TeamTaxclick Team

This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

Notifying All Industry Rates (AIR) of Duty Drawback w.e.f. 22.11.2014

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,     New Delhi, the 17th November, 2014   No. 110 / 2014 – CUSTOMS (N.T.)   Notes and conditions:   (2)             The General Rules for the Interpretation of the First Schedule to the said Customs Tariff Act, 1975 shall mutatis mutandis apply for … Read more

Disciplinary Committee of ICAI found the concerned Statutory Auditors including audit in charge, CFO of the Company and Head of Internal Audit Department guilty of professional misconduct in Satyam scam

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As a part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of ICAI is working assiduously. Disciplinary Directorate of ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Accountants (Amendment) Act, 2006 and Rules framed … Read more

Limit of free ATM transactions in other bank is revised from 1st November 2014

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Reserve bank of India has issued the notification as on 14th August 2014 and instructs the all commercial and co-operative banks for rationalization of number of free ATM transaction. The number of the ATMs is increased to 1.6 lacks across the country by March 2014. Few banks and Indian Bank’s Association had approached the RBI … Read more

Representation Form No. 3CEB for reporting of International Transactions and Specified Domestic Transactions

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File No. ICAI/ClTAX/2014-15/Rep/02 THE ]INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) ‘ICAI Bhawan’, Indraprastha Marg, New Delhi – 110 002. INDIA Dated: 13/11/2014 Sh. Ashish Abrol Directorate of Income Tax (Systems), Aayakar Bhawan, Vaishali, Sector-3, Ghaziabad, 201010, Uttar Pradesh   Subject: Representation Form No. 3CEB for reporting of International … Read more

How to find international buyer?

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Finding the international buyer is the challenging work for the new exporter.  When the person is in export business; he is not only competing with other exporter of his country but; also the exporters of the other countries. There are the different methods of finding the international buyer; which are listed below: 2.       Correspondence: Correspondence … Read more

Anti-dumping duty on imports of phenol, originating in or exported from Chinese Taipei and USA for a period of five years from the date of imposition of the provisional anti-dumping duty, that is, 16th May, 2014

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TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]                                                            GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)   Notification No. 43/2014-Customs (ADD)   New Delhi, the 30th September, 2014               G.S.R.       (E). – Whereas,  in the matter of Phenol (hereinafter referred to as the subject goods), falling under Chapter 29 of the … Read more

Order under section 119 of the Income-tax Act, regarding the extension of due date of tax audit for A.Y. 2014-15

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F.No.153/53/2014-TPL (Pt.I) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) **** North Block, TPL Division New Delhi, the 26th September, 2014 Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 („the Act?) read with rule 6G of the Income-tax Rules, 1962 („the … Read more

Amendment to Maharashtra Value Added Tax Rules, 2005 – Trade Circular No. 18T of 2014

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In order to give effect to the Additional Budget 2014-15 proposals and pursuant to the enactment of the Maharashtra Act No. “XXVII of 2014, certain amendments in the Maharashtra Value Added Tax Rules,2005 have been carried; out by the Government vide Notification No.VAT-1514/CR-62/Taxation-1 dated 13.08.2014. Government also issued Notification No.VAT-1514/CR-29/Taxation-l dated 23rd July 2014 to … Read more

Composition scheme for Retailers under section 42 of the Maharashtra Vallue Added Tax Act,2002- Trade Circular No. 17T of 2014

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Background Section 42 of the Maharashtra Value Added Tax Act, 2002 empowers the State Government to provide for Composition Schemes for different classes of dealers. Accordingly, a notification has been issued on 1st June 2005, which provides for Composition Schemes for restaurants, caterers, bakers, retailers and second hand motor vehicle dealers. Entry 3 of this … Read more