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PF to be applicable on monthly salary of Rs. 15000 instead of Rs. 6500 earlier. Minimum pension of Rs 1000 per month to all PF subscribers [Notifications awaited]
No appeals by ITD for tax loss upto 4 lacs for ITAT, 10 lacs for High Court and 25 lacs for Supreme Court and as per merits of case [CBDT Instruction 5 of 10-07-2014].
The government has amended rule 6 of the valuation rules 2000, by inserting a proviso to rule 6 issued to nullify the effect of Supreme Court Judgment in Fiat Case on Valuation [Notification no. 20/2014-CE dated July 11, 2014].
Where a taxpayer sells the goods at a price less than manufacturing and profit of such goods and there is no additional consideration flowing from the buyer to the taxpayer, the transaction value of the goods will be considered as the assessable value for the purpose of payment of excise duty.
The result of the Information Systems Audit [ISA] Assessment Test held on 28 th June, 2014 is likely to be declared on16th July, 2014 around 4.00 PM at the Institute’s office at New Delhi. The result of the above Assessment test will be available on the Institute’s website www.icai.org
No appeals by ITD for tax loss upto 4 lacs for ITAT, 10 lacs for High Court and 25 lacs for Supreme Court and as per merits of case [CBDT Instruction 5 of 10-07-2014].
The government has amended rule 6 of the valuation rules 2000, by inserting a proviso to rule 6 issued to nullify the effect of Supreme Court Judgment in Fiat Case on Valuation [Notification no. 20/2014-CE dated July 11, 2014].
Where a taxpayer sells the goods at a price less than manufacturing and profit of such goods and there is no additional consideration flowing from the buyer to the taxpayer, the transaction value of the goods will be considered as the assessable value for the purpose of payment of excise duty.
The result of the Information Systems Audit [ISA] Assessment Test held on 28 th June, 2014 is likely to be declared on16th July, 2014 around 4.00 PM at the Institute’s office at New Delhi. The result of the above Assessment test will be available on the Institute’s website www.icai.org