Posts Tagged ‘Notifications’


Section 197A of the Income-Tax Act, 1961 – Deduction of Tax at Source – No Deduction in Certain Cases – Specified Payment under Section 197A(1f)

Notification No. 56/2012, [F. NO. 275/53/2012-IT(B)], Dated 31.12.2012

In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), excluding a foreign bank, namely:-

(i) bank guarantee commission;

(ii) cash management service charges;

iii) depository charges on maintenance of DEMAT accounts;

iv) charges for warehousing services for commodities;

(v) underwriting service charges;

vi) clearing charges (MICR charges);

vii) credit card or debit card commission for transaction between the merchant establishment and acquirer bank.

2. This notification shall come into force from the 1st day of January, 2013.

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. 55/2012, [F.NO. 178/49/2009-ITA-I], Dated 28.12.2012

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.O.354(E) dated the 31st day of March, 2006;

And whereas M/s. iLABS Hyderabad Technology Centre Private Ltd. having its registered office at iLABS Centre, Building No. 3, Plot No. 18, Software Units Layout, Madhapur, Hyderabad-500 081, is developing an Industrial Park at Plot No. 18, Software Units Layout Town/Tehsil-Madhapur, District-Hyderabad, AP-500 081;

And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 03-03-2009 subject to the terms and conditions mentioned therein as subsequently amended vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 10.4.2012;

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. iLABS Hyderabad Technology Centre Pvt. Ltd., Hyderabad, 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.

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

Source: Income Tax Department- India.


Notification No.49 /2012 – Service Tax, [F.No. 354 /190/ 2012-TRU], dated 24th December, 2012

G.S.R….(E)- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.25/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), number G.S.R. 467 (E), dated the 20th June, 2012, namely:-

In the said notification, after entry 26, the following shall be inserted namely:-

“26A. Services of life insurance business provided under following schemes –

(a)    Janashree Bima Yojana (JBY); or

(b)   Aam Aadmi Bima Yojana (AABY);”.

Source: Directorate of Service Tax.


Notification, [F No 5/80/2012- CL V], dated 24th December, 2012

G.S.R. (E). – In exercise of the powers conferred by clause a and b of sub-section (1) of section 642 read with section 266A, 266B, 266D and 266E of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Directors Identification Number) Rules, 2006 namely: –

1. Short title and commencement.

(1) These rules may be called the Companies Directors Identification Number (Third Amendment) Rules, 2012.

(2) They shall some into force with effect from 25.12.2012.

2. In the Companies (Directors Identification Number) Rules, 2006, In Form DIN- 4, the certification column after serial no. 17, the following 2nd para of the certification in Form DIN-4 shall be substituted, namely:-

• I hereby verify that I have satisfied myself about the identity of the director/designated partner based on the perusal of the original of the attached documents.

• I also verify having attested the photograph of the said person

o Who is personally known to me, or

o Who met me in person along with the original of the attached documents.

• It is further certified that all required attachments have been completely attached to this application.

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

Source: Ministry of Corporate Affairs.


Notification dated 24th December, 2012.

G.S.R._________(E). – In exercise of the powers conferred by clause a and b of sub-section (1) of section 642 read with section 266A, 266B, 266D and 266E of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Directors Identification Number) Rules. 2006 namely: –

1. Short title and commencement.

(1) These rules may be called the Companies Directors Identification Number (Third Amendment) Rules, 2012.

(2) They shall come into force with effect from 25.12.2012.

2. In the Companies (Directors Identification Number) Rules, 2006, in Annexure ‘A’ for Form DIN-1, the following Form of DIN-1 shall be substituted, namely:-.

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

Source: Ministry of Corporate Affairs.