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Thread: IncomeTax.gov - Latest Notifications and Circulars - Year - 2011

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    Thumbs up IncomeTax.gov - Latest Notifications and Circulars - Year - 2010 - 2011

    IncomeTax.gov - Latest Notifications and Circulars - Year - 2011



    NOTIFICATION NO. 90/2010 [F.NO. 203/86/2009-ITA (II)]

    DATED - 22-12-2010

    1. It is hereby notified for general information that the organization M/s. National Council for Applied Economic Research, New Delhi has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1-4-2002 (assessment year 2003-04) onwards in the category of 'other Institution', partly engaged in research activities subject to the following conditions, namely:—


    (i) The sums paid to the approved organization shall be utilized for scientific research;

    (ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students;


    (iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;


    (iv) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.


    2. The Central Government shall withdraw the approval if the approved organization:—


    (a) fails to maintain separate books of account referred to in sub-paragraph (iii) of paragraph 1; or
    (b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
    (c) fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or
    (d) ceases to carry on its research activities or its research activities are not found to be genuine; or
    (e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules.



    Last edited by ca_news; 29-01-2011 at 12:08 PM.

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    Thumbs up IncomeTax - Notification Year- 2011- Notification No.71,2010/F.No.V.27015/4/201 0-SO(NAT.COM)]-IT- Eligible projects or schemes specified for sec-35AC

    MINISTRY OF FINANCE
    (Department of Revenue)
    NOTIFICATION
    New Delhi, the 23rd December, 2010


    S.O. 3O21(E). exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely;


    TABLE


    Serial Number
    Name of the Institution
    Project or scheme and estimated cost thereof
    Maximum amount of cost to be allowed as deduction under section 35AC
    (1)
    (2)
    (3)
    (4)
    1.
    Rajmata Singrauli Lata Chun Kumari Sansthan. Singrauli Kothi, Post Waidhan, Singrauli, Division,Madhya Pradesh.
    Prevention and eradication of Malaria general health providing to the rural population.
    (Cost Rs. 4.18 crore including corpus fund of Rs.2 crore).
    Rs. 4.18 crore including corpus fund of Rs. 2 crore for three financial years commencing with
    2010-31 i.e. 2010-2011, 2011-12 and 2012-2013.
    2.
    Lepra Society, Plot No.17, Post Box No.151 8,Krishnapiiri Colony, West Marrcdpally, I Secunderabad,Andhra Pradesh.
    i)Bolangir Leprosy Eradication Project. ii) Junagarh Leprosy Eradication Project iii)Koralep Project: strengthening referral system for secondary care of persons affected by leprosy.
    iv)Lymphatic filariasis project.
    v) LEPRA Mahanadi eye hospital.
    vi) Technical resource unit and strengthening referral system project.
    vii) Adilabad rural and tribal health project
    viii) Cheyutha project. ix) Mens intervention project
    x)Mobile voluntary counseling and testing centre project xi)Umeed project xii)Workplace intervention project. xiii)Krishna community health intervention project xivSreyas project xv)Technical resources unit-MP
    (Cost Rs15.41 crore).
    Rs.15.41 crore for three financial years commencing with 2010-11 i.e.2010-2011,2011-12 and 2012-2013.
    3.
    Abhaya ASsigoli PO Konaje Village,Mangalore Taluka, D.K. District,Karnataka.
    Recurring cost of old age home, home for physically and mentally challenged older persons, recurring expenses of home for destitute children and for a corpus fund of Rs.50 lac.
    (Cost Rs. 3.40 crore including corpus fund of Rs.50 lacs).
    Rs. 3.40 crore including corpus fund of Rs.50 lacs for three financial years commencing with
    2010-11 i.e. 2010-2011, 2011-12 and 2212-2013.
    4.
    Legal Awareness and Welfare Society,D.No.26-32-4 Suresh Bhavan,6th Line, A.T Agraharam, Guntur 522001.Andhra Pradesh.
    Caring the Child and Feeding the poor old.
    (Cost Rs.2 crore).
    Rs.2. 11 crore for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 arid
    2012-13.
    5.
    Netra Chikitsa Trust,Radhika General Hospital General Hospital Chital road,Amreli,Gujarat.
    Recurring expenses for trust hospital, for setting up a training centre for nursing course, for conducing medical camps and for a corpus fund of Rs. one crore. (Cost Rs.9.02 crore including corpus fund of Rs.l crore).
    Rs.9.02 crore including corpus fund of Rs,1 crore for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    6.
    Sewa Sadan Eye Hospital Trust Behind Civil Hospital, Sant Hirdaram Nagar, Bbopal, Madhya Pradesh 462030.
    Free eye camps and Urology camps.
    (Cost Rs.5.69 crore)
    Rs.5.69 crore for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    7.
    Solapur Zilla Magas Samaj Seva Va SAnshodhan Sanstha,15-A,Jawahar Housing Society,Civil Lines,Solapur 413003
    Uplift Downtroddents" provding health,food & Education to Nomadic Tribal.
    (cost Rs.583.63 lakh)
    Rs.583.63 lakh including corpus fund of Rs.1 crore for three financial years commencing with 2010-11 i.e 2010-2011,2011-12 and 2012-2013.
    8.
    Kottappuram Integrated Development Society Kottappuram P.O Kodungallur, Thrissur District, Kerala 680667
    Natural Fibre Craft Project for Sustainable Livelihood in Rural Coastal Kerala. (Cost Rs.9,48 crore).
    Rs. 9.48 crore for three financial ,years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    9.
    Markazu Ssquafathi Ssunniyya, Kannamangalam
    Panchayat,door No.K.P.6/561, Kozhikode District, Kerala-6733571.
    Care of orphans & Health Schemes for rural poor.
    (Cost Rs.44.05 core).
    Rs. 4.05 crore for there financial years conmmencing with 2010-11 i.e. 2010-2011,2011-12 and 2012/2013.
    10.
    Budha Viklang Vikas Sansthan, Bhalua Road Domuthan, Bodh Gaya, District Gaya Bihar 824231.
    Recurring cost of school for child lobors, vocational training fir handicapped students, community based rehabilitations for disabled persons and for a corpus fund .
    (Cost Rs. 4.66 crore including cropus fund of Rs. 50.00 lacs).
    Rs. 4.66 creore including corpus fund Rs. 50.00 lacs for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    11.
    Shri Bilaji Shikshan Prasarak. Mandal, Guruwar Peth, Ambajogai, District Beet, Maharashtra 431517.
    Rehabilitation Centre for Physically and mentally challenged children.
    (Cost Rs. 288.30 lacs including corpus fund of Rs.153.84 lacs.).
    Rs. 288.30 lacs including corpus fund of Rs. 153.84 lac for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    12.
    Helen Keller Institute for Deaf & Deafblind, Municipal Secondary Schoo;, Ground Floor, Near "S" Bridge, N.M Joshi Marg Byculla (West), Mumbai-400011
    Educational & rehabilitation of deaf, deafblind & bilnd multiply handicapped- speech imparted
    (Cost Rs. 5.74 crore).
    Rs. 5.74 crore for three financial years commencing with 2010-11 i.e 2010-2011, 2011-12 and 2012-2013.
    13.
    Life Academy of Vocational Studies , 119 Cooperative Housing Complex, PO KIIT, Bhubaneswar 751024 Orissa.
    Comprehensive development to facilitate educational, farm based livelihoods and health well being
    (Cost Rs. 3.72 crore).
    Rs.3.72 crore three financial years commencing with 2010-11 i.e. 2010-2011, 2011-2012 and 2012-2013.
    14.
    Vishwa Pratisthan, Ghar No. 735/23, Dindayal Nagar, Kurduwadi road, Barshi Tal Barshi, District Solapur, Maharashtra,
    "Second Inning Home" old age home for senior citizen in rural areas. (Cosr of Rs. 180.33 lakhs with corpus fund of Rs.52.87 lakhs.)
    180.33 lakhs with corpus fund of Rs.52.87 lakhs for three fifnacial years commencing with 2010-11 i.e. 2010-2011. 2011-2012 and 2012-2013.
    15.
    Nari Jagran Kendra, At Kusshmi,Ward No.09, PO Chandigarh, District Banks 813109, Bihar.
    Vocational training program for women, low cost sanitation projects for rural villages, awareness programmes on environmental hygiene, for office administration and for a corpus fund.
    (Cost Rs.2.65 crore including corpus fund of Rs, 25 lacs).
    Rs. 2.65 crore including corpus fund oif Rs, 25 lacs for three financial years commencing with 2010-2011 i.e. 2010-2011, 2011-2012 and 2012-2013.
    16.
    Jaanhitha Anantha Krupa, No. 08-11-336, Neelakantheswara Nagara, NGO Colony Raichur
    Microfinance programme fo Anganwadi workers, cimmunity empowerment project, shelter home for rescued children and for a cropus fund of 50 lakhs.
    (Cost Rs. 5.03 crore)
    Rs. 5.03 crore for three financial years commencing with 2010-2011 i.e. 2010-2011, 2011-12 and 2012-2013.
    17.
    Rajah Charitable Medical Trust, P.B> No.34, Muthuvattor, Chavakked-680506, Trichpur district, Kerala
    Outreach Caring Hands.
    (Cost of Rs. 4.06 crore).
    Rs. 4.06 crore fir three financial years commencing with 2010-11 i.e. 2010-2011, 2011-2012 and 2012-2013..
    18.
    Kahija Kasturben Himmatlal Jani Charitable Trust, 8 Vrajbhoomi Apartments, Opposite CN HIG School, Polytechnic Road Ambawadi, Ahmedabad 380006.
    Street Children project, AIDS project, vocational training, Health, women children project,
    (Cosr RS. 2.95 crore).
    Rs. 2.95 crore for three financial years commencing With 2010-2011 i.e 2010-2011, 2011-2012 and 2012-2013.
    19.
    Labour Welfare Trust,9 Textile Labour Association, Bhadra Ahmedabad 380001.
    J.B kanyagrah. (Cost RS. 20,25,000.)
    Rs. 20,25,000/- for three financial years commencing eith 2010-2011 i.e. 2010-2011, 2011-2012 and 2012-2013.
    20.
    Faith Ministry Society, Nagagaon Colony Dimapur, Nagalan797112.
    Establishment of Rehabilitation centre (at rented building) for drug addicts & alchololics.
    (Cost.Rs.5 crore).
    Rs. 5 crore for three financial years commencing with 2010-2011 i.e. 2010-2011, 2011-2012- and -2012-2013.
    21.
    All India children Care &Educational Development Society, Near Railway Station, Azamgarh 276011, Uttar Pradesh.
    Integrated community health programmes, recurring cost of terminal for cancer, HIV/AIDS and TV patients, adoptind destitute elderly people , expansion of ambulance services, scholarship for economically poor students and for a ciorups of 5 crore.
    (Cost Rs. 25.29 crore including corpus fund of Rs. 5 crore).
    Rs. 25329 crore including corpus fund of Rs. 5 crore for three financial years commencing with 2010-2011- i.e. 2011-2012, and 2012-2013.
    22.
    Shri Balaji Social Welfare & Charitable Society for Education, Research & Training, Flat No. 1065, Sector B, Vasant Kunj, New Delhi.
    Women in Development
    (Cost Rs 4.18 crore).
    RS. 4.18 crore for three financial years commencing with 2010-2011- i.e. 2011-2012, and 2012-2013.
    23.
    Chington Development society, phaibung Jhullen P.O. Senapati Senapati District, Manipur 795106
    Economic Empowerment of tribal poor through Income Generation Programme (Cost Rs. 484.50 lakhs).
    Rs. 484.50 lakhs for three financial yeaers commencing with 2010-2011 i.e. 2010-2011-, 2011-2012, and 2012-2013.
    24.
    Sweekaar, Rehabilitation Institute for Handicapped, UpkaarComplex, Upkaar Junction, Picket, Secunderabad -3Andhra Pradesh.
    Extension for Rehabilitaton service to Tandur inAndhra Pradesh.
    (Cost Rs. 3.80 crore).
    Rs. 3.80 crore for three years financial years commencing with 2010-11 i.e 2010-2011, 2011-2012 and 2012-2013.
    25.
    Bhai Kahanaiyaji Birdh Ghar, Yatimghar, Ayurvadic Dawa khana, Bhai Majh sahib Road, Sultanwind, district Amritsar, Punjab-143001.
    Bhai Kahnaiyaji Birdh Ghar Yatim Ghar Ayurvadic Dawaghar Welfare Society.
    (Cost Rs. 1.55 crore.)
    RS. 1.55 crore for three financial years commencing with 2010-2011 i.e 2011-2012 and 2012-2013.
    26.
    Kathobadeo Shikshan Prasark Mandal Akrale, Akrale, P.O. Ranale, District Nandurbar-425412, Maharashtra.
    Construction. Expansion of School/hostel building.
    (Cost Rs. 757.50 lacs)
    Rs. 757.50 lacs for two financial years commencing eith 2010-11 i.e 2010-2011 and 2011-12.
    27.
    Indian Centre for Advancement of Research and Education, Village Banbishnpur, P>O. Balguhatta, Medinipur West Bengal 721645.
    Expansion of the existing Dr. Bidhan Chandra Roy Hospital. (Cost Rs. 38.30 crore including corpus fund of Rs.10 crore).
    Rs. 38.30 crore including croups fund of Rs. 10crore for three financial years commencing with 2010-2011 i.e 2010-2011, 2011-12 and 2012-2013.
    28.
    Shri Dutta Seve Mandal. AT and Post Ruibhar, Tal & District Osmanbad, Maharashtra.
    Resource Management Training and Agriculture support, organic farming, development of medicinal and fodder plants for tribal farmers, provision for drinking water and for a drinking water and for a corpus of 50 lacs.
    (Cost Rs. 5.03 crore including corpus fund of Rs. 50 lacs).
    Rs. 5.03 crore including corpus fund of Rs, 50 lacs for three financial years commencing with 2010-2011 i.e. 2010-2011, 2011-12
    And 2012-2013.
    29.
    Pragya Chairtanya Foundatuion Trust, D-847,48/11 Shri Phal Apartments, Sheed Amit Bharadwaj Marg, Malviya Nagar, Jaipur 302017.
    Rural Youth Empowerment Program.
    (Cost Rs. 5.89 crore).
    RS. 5.89 crore for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    30.
    Veerayatan, At & Post Veerayatan, Rajgir, District Nalanda, Bihar 803116.
    Construction and maintenance of a Health Centre specially for women and children below 12 years of age named "Veerayatan Health Centre .
    (Cost Rs. 404.81 lakhs).
    RS. 404.81 lakhs for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    31.
    Hindu Mission Hospital, 103, GST Road, Tambaram West, Chennai 45,
    Heart Eye & Limb Disability project.
    (Cost RS. 5.16 Crore).
    Rs. 5.16 crore for three financial years commencing eith 2010-11 i.e. 2010-2011, 2011-12, and 2012-2013.
    32.
    Bannarri Rural Foundation, Bannari Amman Sugras Complex, Alathukombai, Sathyamangala, Erode 638401, Tamilnadu
    Development ubder health, sanitation and education
    (Cost Rs. 609.54 lakhs).
    Rs. 609.54 lakhs for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.
    33.
    Ramakrishan Mission, P.O. Belur with District Howrah, West Bengal-711202.
    Commemoration of Swami Vivekananda's 150th Birth Anniversary through sustained specials service programmes for children women and youth in rural and urban area all over India.
    (Cost Rs. 26 crore including corpus fund of Rs. 20 crore).
    Rs. 26 crore including corpus fund of Rs, 50 crore for three financial years commencing with 2010-11 i.e. 2010-2011, 2011-12 and 2012-2013.


    II. This notification shall remain in force for a period of two years in relation to financial years 2010-11 and 2011-12 in respect of project or, scheme mentioned at serial No. 26 and for a period of three years in relation to financial years 2010-11, 2011-12 & 2012-13 in respect of projects or schemes mentioned at serial numbers 1,2.3,4,5,6,7,8,9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23. 24, 25. 27, 28, 29, 30, 31, 32, 33 & 34 of the said table.

    No. 71,2010/F. No. V. 27015/4/201 0-SO (NAT.COM)]
    NAVEEN CHANDRA, Director (National Committee)

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    Thumbs up IncomeTax - Notification Year- 2011- Notification No. 91/2010-IT -Exemption under section 35(1)(ii)–Approved scientific research associations

    NOTIFICATION NO. 91/2010, [F.NO. 203/4/2010/ITA-II]

    DATED - 23-12-2010



    Exemption under section 35(1)(ii)–Approved scientific research associations/institutions-Indraprastha Institute of Information Technology, New Delhi




    1. It is hereby notified for general information that the organization Indraprastha Institute of Information Technology, New Delhi has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2010-11 onwards in the category of 'other Institution', partly engaged in research activities subject to the following conditions, namely :—




    (i) The sums paid to the approved organization shall be utilized for scientific research;


    (ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students;


    (iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;


    (iv) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

    2. The Central Government shall withdraw the approval if the approved organization :-


    (a) fails to maintain separate books of account referred to in sub-paragraph (iii) of paragraph 1; or
    (b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
    (c) fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or
    (d) ceases to carry on its research activities or its research activities are not found to be genuine; or
    (e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules.

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    Thumbs up IncomeTax - Notification Year- 2011- Notification No.- 92/2010-IT- Exemption under section 35(1)(ii)- Approved social science or statistical research

    NOTIFICATION NO. 92/2010, [F.NO.203/17/2010/ITA-II]

    DATED 23-12-2010



    Exemption under section 35(1)(ii)- Approved social science or statistical research associations or institutions-Indira Gandhi National Centre of the Arts, New Delhi



    1. It is hereby notified for general information that the organization Indira Gandhi National Centre of the Arts, New Delhi has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2010-11 onwards in the category of 'Other Institution', partly engaged in research activities subject to the following conditions, namely:


    (i) The sums paid to the approved organization shall be utilized for research in social sciences;


    (ii) The approved organization shall carry out research in social science or statistical research through its faculty members or its enrolled students;


    (iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;


    (iv) The approved organization shall maintain a separate statement of donations received and amounts applied for research in social science and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.


    2. The Central Government shall withdraw the approval if the approved organization:—


    (a) fails to maintain separate books of account referred to in sub-paragraph (iii) of paragraph 1; or
    (b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
    (c) fails to furnish its statement of the donations received and sums applied for research in social science or statistical research referred to in sub-paragraph (iv) of paragraph 1; or
    (d) ceases to carry on its research activities or its research activities are not found to be genuine; or
    (e) ceases to conform to and comply with the provisions of clause (iii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules.

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    Thumbs up IncomeTax- Notification Year- 2011-Notification No.01/2011-IT-Scheme for slum redevelopment prepared by the Maharashtra Government under sec-80 IB(10)

    MINISTRY OF FINANCE
    (Department of Revenue)
    (CENTRAL BOARD OF DIRECT TAXES)
    NOTIFICATION
    New Delhi, the 5th January, 2011
    (Income-tax)





    Scheme for slum redevelopment prepared by the Maharashtra Government under section 80 IB(10).
    S.O. 14(E).—In exercise of the powers conferred by clauses (a) and (b)of sub-section (10) of Section 80-lB of the Income Tax Act, 1961(43 of 1961), the Board hereby notifies, the Scheme for slum redevelopment prepared by the Maharashtra Government under sub-section (2) of Section 37 of the Maharashtra Regional Town Planning Act. 1966 (Mah. XXXVII of 1966) and published vide notification No. TPS-1 893/973/C R-49/93AJUD- 13, dated the 26th February, 2004, as a scheme for the purposes of the said section subject to the condition that any amendment to the Scheme hereby notified shall be required to be re notified by the Central Board of Direct Taxes.

    2. This notification shall be deemed to apply to projects approved by a local authority under the aforesaid scheme on or after the 1st day of April, 2004 and before 31st day of March, 2008 thereby making the incomes arising from such projects eligible for deduction under sub-section (10) of Section 80-JB from the Assessment Year 2005-06 onwards.


    [Notification No.01/201 1/F. No. I 78/35/2008-ITA-I]
    RAMAN CHOPRA, Director (ITA-I)

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    Thumbs up IncomeTax- Notification Year - 2011 - Notification No.-02/2011-IT - Amends Notification No. s.o.1898(E)

    MINISTRY OF FINANCE
    (Department of Revenue)
    (CENTRAL BOARD OF DIRECT TAXES)
    NOTIFICATION NO. 02/2011-IT

    New Delhi, the 5th January,2011
    (Income-tax)




    Amends Notification No. s.o.1898(E), Profits and gains from industrial undertakings purposes of section 80-IB(10)

    In the notification of the Government of India in the Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes) number S.O. 1898(E), dated the 3rd August, 2010, published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii), dated the 3rd August, 2010, in paragraph 2 for "This notification shall come into force with effect from the date of its publication", read "This notification shall be deemed to apply to projects approved by a local authority under the aforesaid scheme on or after the 1st day of April, 2004 and before 31st day of March, 2008 thereby making the incomes arising from such projects eligible for deduction under sub-section (10) of section 80-IB from the assessment year 2005-06 onwards."


    Explanatory Memorandum - As the provisions of section 80-IB(10) apply only to housing projects approved before 31-3-2008 the above notification would also be deemed to apply to housing projects approved by a local authority under the aforesaid scheme on or after the 1st day of April, 2004 and before 31st day of March, 2008.





    [F.NO. 178/37/2006-IT(A-I)]



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    Thumbs up IncomeTax- Notification Year - 2011- Notification No. 3/2011-IT - Double Taxation Avidence Agreement (DTAA) among SAARC Members.

    NOTIFICATION NO. 3/2011

    DATED 10-1-2011




    Double Taxation Avidence Agreement (DTAA) among SAARC Members.
    WHEREAS the annexed Agreement among the Governments of SAARC (South Asian Association for Regional Cooperation) Member States comprising the People's Republic of Bangladesh, the Kingdom of Bhutan, the Republic of India, the Republic of Maldives, the Kingdom of Nepal, the Islamic Republic of Pakistan and the Democratic Socialist Republic of Sri Lanka for the avoidance of double taxation and mutual administrative assistance in tax matters signed in Dhaka, Bangladesh on the 13th day of November, 2005 shall come into force on the 19th day of May, 2010, being the thirtieth day after the notification dated 19th April, 2010 issued by SAARC Secretariat regarding completion of all formalities, including ratification, wherever applicable, by all Member States, in accordance with Article 16 of the said Agreement;


    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 Agreement shall be given effect to in the Union of India with effect from the 1st day of April, 2011.



    FTD-II [F.NO.500/96/97-FTD-II]


    Annexure
    Attached Files Attached Files

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    Thumbs up IncomeTax- Cicular - Year - 2011 - CIRCULAR NO. 8/2010 - The rates of deduction of income-tax from the payment of income chargeable

    CIRCULAR NO. 8/2010

    DATED - 13-12-2010





    The rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2010-11


    Reference is invited to Circular No.01/2010 dated 11-1-2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under section 192 of the Income-tax Act, 1961, during the financial year 2009-10, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2010-11 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department.



    [F.No. 275/192/2009-IT(B)],

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    Thumbs up IncomeTax- Cicular -Year - 2011- ORDER NO.1/FT&TR/2011- Constitutes the Dispute Resolution Panel (DRP) In exercise of powers conferred under sec -144C

    ORDER NO. 1/FT&TR/2011 [F.No.500/15/2011-FTD-I]


    dated 12-1-2011


    In exercise of powers conferred under section 144C of the Income-tax Act, 1961, and in super session of Order No. 1/FT&TR-II/2010, dated 10-2-2010, Order No. 2/FT&TR-II/2010, dated 17-2-2010 and Order No. 4/FT&TR-II/2010, dated 26-8-2010, the Board hereby constitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income-tax/Directors of Income-tax as Members of DRP at the places given below, who shall perform such duties in addition to their regular duties with effect from 12-1-2011 and until further orders:




    S.N.
    Place of DRP
    Members of DRP
    1
    Ahmedabad
    Shri Tejinder Singh, DIT (International Taxation & Transfer Pricing), Pune
    Shri Sanjay Kumar, DIT (International Taxation & Transfer Pricing), Kolkata
    Shri Athulesh Jindal, CIT-II, Ahmedabad
    2
    Bangalore
    Shri A.K.Aggarwal, DIT (International Taxation), Bangalore
    Shri Rakesh Bhaskar, DIT (Transfer Pricing), Chennai
    Shri Goutan Kar, CIT-II, Bangalore
    3
    Chennai
    Shri Rajeeb Hota, DIT (International Taxation), Chennai
    Shri Jason P. Boaz, DIT (Transfer Pricing), Bangalore
    Shri Rajendra Kumar, CIT-VI, Chennai
    4
    Delhi, DRP-I
    Smt. Promila Bhardwaj, DIT(International Taxation)-I, Delhi
    Smt. Rashmi Saxena, DIT (Transfer Pricing)-II, Delhi
    Shri Gopal Mukherjee, CIT -V, Delhi
    5
    Delhi, DRP-II
    Shri Virender Singh, DIT (International Taxation)-II, Delhi
    Shri D. K. Gupta, DIT (Transfer Pricing)-I, Delhi
    Shri S. G. Joshi, CIT-III, Delhi
    6
    Hyderabad
    Shri A.K. Aggarwal, DIT (International Taxation), Hyderabad
    Shri Rakesh Bhaskar, DIT (Transfer Pricing), Chennai
    Shri T. Jayashankar, CIT-I, Hyderabad
    7
    Kolkata
    Shri Virender Singh, DIT (International Taxation)-II, Delhi
    Shri Jason P. Boaz, DIT (Transfer Pricing), Bangalore
    Shri R.P. Bahamani, CIT-III, Kolkata
    8
    Mumbai, DRP-I
    Shri L.N. Pant, DIT (International Taxation)-I, Mumbai
    Ms. Anuradha Bhatia, DIT (Transfer Pricing)-II, Mumbai
    Shri P. Raghu, CIT-III, Mumbai
    9
    Mumbai, DRP-II
    Ms. Gunjan Mishra, DIT (International Taxation)-II, Mumbai
    Shri Yashwant U. Chavan, DIT (Transfer Pricing)-I, Mumbai
    Shri Amitabh Mishra, CIT-IV, Mumbai
    10
    Pune
    Shri K.K. Arumugan, DIT (International Taxation & Transfer Pricing), Ahmedabad
    Shri Sanjay Kumar, DIT (International Taxation & Transfer Pricing), Kolkata
    Shri B.P. Sharma, CIT-I, Pune

    2. This issues with the approval of Chairman, CBDT.

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    Thumbs up IncomeTax - Notification Year- 2011- Notification No. [No. 86/2010/F. No. V. 27015/4/2010-SO] -IT - New Delhi, the 30th December, 2010

    Income Tax - Notification Year- 2011


    MINISTRY OF FINANCE
    (Department of Revenue)

    Notification No. [No. 86/2010/F. No. V. 27015/4/2010-SO] -IT

    New Delhi, the 30th December, 2010


    Notification Under Section 35AC in respect of "Sharada Dhanvanthari Medical Centre & Sbarada Dhanvantari Haemodialysis Centre"


    S.O. 3061(E).-Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 466(E), dated 29th March, 2007, issued under clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 13, Sharada Dhanvanthari Medical Centre & Sharada Dhanvantari Haemodialysis Centre by Sri Abhinava Vidyatheertha Mahaswmigal Peetarohanam Silver Jubilee Commemoration Medical Foundation, Sharada Dhanvanthari Medical Centre & Sharada Dhanvantari
    Haemodialysis Centre, 1st Cross, Shankarapuram, Bahgalore-560004, as an eligible project or scheme for a period of three years beginning with financial year 2007-08;
    And whereas the said project or Scheme is likely to extend beyond three-years;
    And whereas the National Committee for promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly ,made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years;


    Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (l) read with clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project, "Sharada Dhanvanthari Medical Centre & Sbarada Dhanvantari Haemodialysis Centre", is being carried out by Sri Abhinava Vidhyatheertha Mahaswmigal Peetarhonam Silver Jubilee Commemoration Medical Foundation, Sharada Dhanvanthari Medical Centre & Sharada Dhanvantari Haemodialysis Centre, 1st Cross, Shankarapuram, Bangalore-560004, without any change in the approved cost of Rs. 1.02 crore, as an eligible project or scheme for a further period of three financial years commencing with2010-ll i.e. 2010-11, 2011-12 & 2012-13.




    [No. 86/2010/F. No. V. 27015/4/2010-SO)]
    NAVEEN CHANDRA, Director (National Committee)


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