Six countries supply data about payments to Indians !

Director General of Income Tax (Inteligence) , a recently formed directorate in the Income Tax Department are handling the data provided by US, Finland, Japan, Korea, Denmark and New Zealand on entities in these countries having made payments to Indians. It is reported that the data was provided in May 2010.

Benefit on breakage on PET bottle over as CBEC cancels its instruction,

The  benefit of duty exemption in respect of breakage of PET bottles upto 0.5% citing the Board’s Instruction letter No. ID/3/70-CX8, as amended vide letter F.No. 261/ID/1/75-CX8 dated 17.09.1975 has been expressly is stopped as CBEC cancelled its intrtruction vide its new Circular No.  930/20/2010-CX . As per the letter (inmstruction ) dated 17.09.75, tolerance...