Posts Tagged ‘Notifications’


Section 90 of the Income Tax Act, 1961- Double Taxation Agreement- Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Foreign Countries- Netherlands- Amendment in Notification No. GSR 382(E) dated 27.03.1989

Notification No. 2/2013, [F.NO.501/02/1983-FTD-I], dated 14.01.2013

WHEREAS a Protocol for amending the Convention between the Republic of India and the Kingdom of the Netherlands for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on Income and on Capital was signed at the Hague on the 10th day of May, 2012;

AND WHEREAS, the date of entry into force of the said Protocol is the 2nd day of November, 2012, being the date of later of the notifications of satisfaction of all legal requirements and procedures for entry into force of the Agreement, in accordance with Paragraph 2 of Article 3 of the said Protocol;

AND WHEREAS, Paragraph 2 of Article 3 of the said Protocol provides that the amending protocol, which shall form an integral part of the convention shall enter into force on the date of the later of the notifications referred to in paragraph 1 of said Article and its provisions shall have effect forthwith;

NOW, THEREFORE, in exercise of the powers conferred by section 90 of the Income-Tax Act, 1961 (43 of 1961), the Central Government hereby directs that all the provisions of the said Protocol, as set out in the Annexure hereto, shall be given effect to in the Union of India in respect of income and on Capital arising from the 2nd November, 2012.

.

.

.

.

.

.

.

.

Click here to download the complete text of the above Notification in PDF Format.

Source: Income Tax Department- India.


Notification No. 3/2013, [F.No.142/39/2012-SO(TPL)], dated 15.01.2013

In exercise of the powers conferred by sub-section (2) of section 200A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following scheme for centralised processing of statements of tax deducted at source, namely:-

Short title and commencement

1. (1) This scheme may be called the Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013.

   (2) It shall come into force on the date of its publication in the Official Gazette.

Definitions

2. (1) In this scheme, unless the context otherwise requires,-

(a) “Act” means the Income -tax Act, 1961 (43 of 1961);

(b) “Assessing Officer” means the Assessing Officer who is ordered or directed under section 120 of the Act to exercise or perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under Chapter XVII of the Act;

(c) “authorised agency” means the person authorised by the Director General to receive the statement of tax deducted at source or correction statement of tax deducted at source;

d) “Board” means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963);

(e) “Cell” means the Centralised Processing Cell having jurisdiction over such statements of tax deducted at source as may be specified by the Board;

(f) “Commissioner” means the Commissioner of Income-tax in charge of the Centralised Processing Cell;

g) “correction statement of tax deducted at source” means the statement furnished for rectifying any mistake or to add, delete or update the information furnished in the statement of tax deducted at source furnished under sub-section (3) of section 200 of the Act;

(h) “deductor” means a person deducting tax in accordance with the provisions of Chapter XVII of the Act;

(i) “Director General” means the Director General of Income-tax (Systems) appointed as such under sub-section (1) of section 117 of the Act;

(j) “portal” means the web portal of the authorised agency or the web portal of the Cell, as the case may be;

k) “statement of tax deducted at source” means statement of tax deducted at source furnished under sub-section (3) of section 200 of the Act.

(2) The words and expressions used herein but not defined and defined in the Act shall have the meaning respectively assigned to them in the Act.

Centralised Processing Cell

3. The Board may set up as many Centralised Processing Cells as it may deem necessary and specify their respective jurisdictions.

Furnishing of Correction Statement of Tax Deducted at Source

4. (1) A deductor shall furnish the correction statement of tax deducted at source in the form specified by the Director General-

(a) at the authorised agency through electronic mode; or

(b) online through the portal.

(2) The correction statement referred to in sub-paragraph (1) shall be furnished under digital signature or verified through a process in accordance with the procedure, formats, and standards specified by the Director General.

Processing of Statements

5. (1) The Cell shall process the statement of tax deducted at source furnished by a deductor in the manner specified under sub-section (1) of section 200A of the Act after taking into account the information contained in the correction statement of tax deducted at source, if any, furnished by the deductor before the date of processing.

(2) The Commissioner may-

a) adopt appropriate procedure for processing of the statement of tax deducted at source; or

b) decide the order of priority for processing of the statement of tax deducted at source based on administrative requirements.

Rectification of Mistake

6. (1) An Income-tax authority of the Cell may, with a view to rectifying any mistake apparent from the record under section 154 of the Act, on its own motion or on receiving an application from the deductor, amend any order or intimation passed or sent by it under the Act.

(2) An application for rectification shall be furnished in the form and manner specified by the Director General.

(3) Where a rectification has the effect of reducing the refund or increasing the liability of the deductor, an intimation to this effect shall be sent to the deductor electronically by the Cell and the reply of the deductor shall be furnished in the form and manner specified by the Director General.

(4) Where an amendment has the effect of reducing a refund already made or increasing the liability of the deductor, the order under section 154 of the Act passed by an Income-tax authority of the Cell shall be deemed to be a notice of demand under section 156 of the Act.

Adjustment against outstanding tax demand

7. Where a refund arises from the processing of a statement under this scheme, the provisions of section 245 of the Act shall, so far as may be, apply.

Appeal

8. (1) Where a statement of tax deducted at source is processed at the Cell, the appeal proceedings relating to the processing of the statement shall lie with the Commissioner of Income-tax (Appeals) having jurisdiction over the Assessing Officer who has jurisdiction over the deductor and any reference to Commissioner of Income-tax (Appeals) in any communication from the Cell shall mean such jurisdictional Commissioner of Income-tax (Appeals).

(2) The Assessing Officer who has jurisdiction over the deductor shall submit the remand report and any other report to be furnished before the Commissioner of Income-tax (Appeals) and an order, if any, giving effect to appellate order shall be passed by such Assessing Officer.

No Personal appearance at the Cell

9. (1) No person shall be required to appear personally or through authorised representative before the authorities at the Cell in connection with any proceedings.

(2) The Cell may call for such clarification, evidence or document as may be required for the purposes of the processing of statement of tax deducted at source or for the purposes of the rectification of any order or intimation passed or sent by the Cell under the provisions of the Act.

(3) The deductor shall furnish the reply to any communication under sub-paragraph (2) in such format as may be specified by the Director General.

Service of Notice or Communication

10. (1) The service of a notice or order or intimation or any other communication by the Cell may be made by delivering or transmitting a copy thereof to the deductor,-

(a) by electronic mail; or

(b) by placing such copy in the registered electronic account of the deductor on the portal of the Cell; or

(c) by any mode mentioned in sub-section (1) of section 282 of the Act.

(2) The date of posting of any communication under sub-paragraph (1) in the electronic mail or electronic account of the deductor in the portal of the Cell shall be deemed to be the date of service of such communication.

(3) The intimation, orders and notices shall be computer generated and need not carry physical signature of the person issuing it.

Power to specify Procedure and Processes

11.The Director General may specify procedures and processes, from time to time, for effective functioning of the Cell in an automated and mechanised environment, including specifying the procedure, formats, standards and processes in respect of the following matters, namely:-

(a) form of correction statement of tax deducted at source;

(b) the manner of verification of correction statement of tax deducted at source;

(c) receipt of correction statement of tax deducted at source;

(d) form of rectification application;

(e) the manner of verification of rectification application;

(f) receipt and processing of rectification applications in the Cell;

(g) the mode and format of the acknowledgement to be issued by the Cell for the receipt of any document;

h) the mode of authentication of any document or information submitted to the Cell, including authentication by digital signature or electronic signature;

(i) validation of any software used for electronic filing of correction statement of tax deducted at source or rectification application;

(j) provision of web portal facility including login facility, tracking status of correction statement of tax deducted at source or statement of tax deducted at source, display of relevant details of tax deduction or refunds to the taxpayer or deductor, as the case may be, and facility of download of relevant information;

k) call centre to answer queries and provide taxpayer services, including outbound calls to a deductor requesting for clarification to facilitate the processing of the statement of tax deducted at source filed;

(l) provision of grievance redressal mechanism in the Cell;

m) managing tax administration functions such as receipt, scanning, data entry, processing, storage and retrieval of statement of tax deducted at source and documents in a centralised manner or receipt of paper documents through authorised intermediaries.

Source: Income Tax Department- India.


Notification No. 01/2013 under CPR Scheme 2011, F. No. DIT(S)-III/ITR-V Extension/ 2012-13, dated 07.01.2013.

In exercise of its powers under clause (ii) of Para 14 read with clause (7) of Para 4 of the ‘Centralized Processing of Returns Scheme, 2011’, issued vide CBDT Notification No. SO 16(E), dated 04.01.2012, the Director General of Income Tax (System) hereby extends the time limit for filing ITR-V forms relating to Income Tax Returns filed electronically (without digital signature Certificate) for A.Y. 2010-11 [Filed during F.Y. 2011-12] and for ITRs of A.Y. 2011-12 [filed on or after 01.04.2011] till 28th February, 2013. In respect of returns filed for A.Y. 2012-13 for which ITR-V forms are yet to be received at CPC and time of 120 days has also elapsed, time limit for filing of ITR-V is extended upto 31st March, 2013 or 120 days from the date of uploading of the electronic return data, whichever is later.

This direction is issued to mitigate the hardship and grievance of the tax payers who have been prevented by reasonable causes to file the ITR-V in time.

Source: Income Tax Department- India.


Section 80-IA, Sub-clause (iii) of sub-section (4) of the Income-tax Act, 1961 – Deductions – In respect of profits and gains from Industrial Undertakings, or Enterprises Engaged in Infrastructure Development, etc. – Notified Undertakings

Notification No. 1/2013, [F.NO. 178/02/2008-ITA-I], dated 08.01.2013

Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) [hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide number S.O. 193(E), dated the 30th March, 1999 for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 and vide number S.0.354(E), dated the 31st day of March, 2006;

And whereas M/s. Ganesh Housing Corporation Ltd. having its registered office at 1st Floor, “Samudra”, Near Klassic Gold Hotel, C.G. Road, Ellisbridge, Ahmedabad-380006, is developing an Industrial Park at International Pharma and Biotech Park, Matoda-Sari, Ahmedabad, Gujarat.

And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/21/04-IP&ID, dated 5-11-2004 subject to the terms and conditions mentioned therein;

And whereas the Hon’ble Gujarat High Court in its order dated 10.8.2011 in Special Civil Application 15962 of 2012 has directed the Central Board of Direct Taxes and the Ministry of Commerce to take consequential steps to ensure that necessary notification of the aforementioned industrial park is issued for the benefits under section 80-IA in terms of Rule 18C(4) of the Income Tax Rules, 1962.

Now, therefore, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, the Central Government hereby notifies the undertaking, being developed and being maintained and operated by M/s. Ganesh Housing Corporation Ltd., as an industrial park for the purposes of the said clause (iii) subject to the terms and conditions mentioned in the annexure of the notification.

.

.

.

.

.

Click here to download the complete text of the above Notification in PDF Format.

Source: Income Tax Department- India.


CA CPT June 2013 Examination Details (Dates, Fees etc.)

Notification dated 2nd January, 2013

No.13-CA (EXAM)/CPT/ June/2013: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test (Paper- Pencil Mode) will be held on Sunday, 16th June, 2013 in two sessions as below.

[This Common Proficiency Test will be conducted as per provisions of Regulation 25 D (3) of the Chartered Accountants Regulations, 1988 and the syllabus as published in the pages 291-293 of the Journal ‘The Chartered Accountant’ August 2006 issue and pages 12-13 of Chartered Accountants Students’ Newsletter August 2006 issue.]

First Session

(i.e. Morning Session)

10.30 AM to 12.30 PM (IST)

Section – A Fundamentals of Accounting

Section – B Mercantile Laws

Second Session

(i.e. Afternoon Session)

2.00 PM to 4.00 PM (IST)

Section – C General Economics

Section – D Quantitative Aptitude

The Council reserves the right to withdraw any centre at any stage without assigning any reason.

Applications for admission to Common Proficiency Test is required to be made in the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Additional Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002 on payment of Rs. 1000/- (Rs.500/- towards examination fee and Rs. 500/- towards cost of application form and Information brochure) per application form. The fee for candidates opting for Abu Dhabi, Dubai, Doha and Bahrain centres will be US $160 (US $ 150 towards examination fee and US $ 10 towards cost of application form and information brochure) or its equivalent Indian Currency. The fee for the candidates opting for Kathmandu centre are required to remit INR.1350/-(INR 850/- towards examination fee and INR 500/- towards the cost of application form and information brochure) or its equivalent foreign Currency. Since the cost of Information brochure containing Common Proficiency Test application form includes the examination fee, no separate fee is required to be remitted at the time of submitting the filled in application form. The Information brochure containing Common Proficiency Test application form will also be available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 3rd April, 2013.

Common Proficiency Test application forms duly filled in may be sent so as to reach the Additional Secretary (Examinations) at New Delhi not later than 24th April, 2013. Applications received after 24th April, 2013 shall not be entertained under any circumstances. Applications duly filled in will be received by hand delivery at the offices of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Ahmedabad, Bangalore, Hyderabad, Jaipur and Pune upto 24th April, 2013. Candidates residing in these cities are advised to take advantage of this facility. It may be noted that there is no provision for acceptance of application forms after 24th April, 2013 with late fee.

The candidates who fill up the examination application form online at http://icaiexam.icai.org from 3rd April, 2013 (10.00 hrs) to 24th April, 2013 (17.30 hrs) and remit the fee online by using either VISA or MASTER Credit/ Debit Card shall not be charged Rs. 500/- (i.e. cost of application form fee) in order to popularize filling-in of application form online.

Common Proficiency Test (CPT) is open only to those students who are already registered with the Institute of Chartered Accountants of India for the said course on or before 2nd April, 2013 and fulfill the requisite eligibility conditions.

QUESTION PAPER BOOKLET LANGUAGE:

Common Proficiency Test will be an objective type multiple choice questions based examination. Candidates will be allowed to opt for Hindi medium Question Paper Booklet for answering the questions.

Detailed information will be found given in the Information brochure.

Click here to download the complete text of the above Notification in PDF Format.

Source: The Institute of Chartered Accountants of India.