The Income Tax Appellate Tribunal (ITAT) redirected the issue to the Assessing Officer (AO) as the authorities have erred in denying a claim under Section 80G of the Income Tax Act, 1961 by observing that the CSR payments eligible under the said provision shall be deducted at the time of computation of the head “Profit…
CBDT notifies Donations to ‘Shri Ram Janmbhoomi Teerth Kshetra’ eligible for Income Tax Deduction .The Central Board of Direct Taxes (CBDT) on Friday notified that the donations made to ‘Shri Ram Janmbhoomi Teerth Kshetra’ are eligible for deduction under Section 80G of Income Tax Act, 1961. The Central Government notified the donations to be eligible…
EXPORT ORIENTED UNITS INTRODUCTION The Export Oriented Units (EOUs) scheme, introduced in early 1981, is complementary to the SEZ scheme. It adopts the same production regime but offers a wide option in locations with reference to factors like:- 1. Source of raw materials, 2. Ports of export, hinterland facilities, 3. Availability of technological skills, 4.…
[et_pb_section][et_pb_row][et_pb_column type=”4_4″][et_pb_text] About Customs Bonded Warehouse: Customs warehousing is a procedure under which imported goods are stored under customs control in designated place without payment of import duties. The provisions related to warehousing are under Chapter IX of the Customs Act,1962. Apart from the specific provisions, certain regulations like Manufacture and Other Operations in Warehouse…