Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur

Central Board of Direct Taxes has issued the notification which hereby notifies that Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of public worship of renown throughout the State of Tamil Nadu

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 3rd June, 2014
Income-tax

S.O. 1434(E).—In exercise of the powers conferred by clause (b) of sub-section (2) of Section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section. [Notification No. 29/2014/F. No. 176/05/2011-ITA.-I]

COST OF INFLATION INDEX FOR CAPITAL GAIN CALCULATION YEAR 2014-15 : CII 1024

Central Government has issued the Notification for Cost of Inflation Index for capital gain calculation for financial year 2014-15 is 1024.

Notification No. 31/2014/F.No.142/3/2014-TPL: S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government hereby  makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

2. In the said notification, in the Table, after serial number 33 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

S.NoFinancial YearCost Inflation Index
342014-151024

Complete Income Tax Guide for Salaried Individual for Financial Year 2013-14 by Income Tax Department

Income Tax Department has issued the Circular No.08/2013 [F.No.275/192/2013-It(B)], Dated 10-10-2013 Giving Complete Details Of Tax Slab Rates, Different Deductions, Method Of Tax Calculation, Salary From More Than One Employer, Relief When Salary Paid In Arrear Or Advance, Computation Of Income Under The Head “ Income From House Property, Persons Responsible For Deducting Tax And Their Duties, Mandatory Quoting Of Pan And Tan, Compulsory Requirement To Furnish Pan By Employee (Section 206AA), Statement Of Deduction Of Tax Under Section 200(3) [Quarterly Statement Of TDS], Matters Pertaining To The TDS Made In Case Of Non Resident, Computation Of Income Under The Head “Salaries, Income Chargeable Under The Head “Salaries (5.1), Definition Of “Salary”, “Perquisite” And “Profit In Lieu Of Salary” (Section 17), Rebate Of Rs. 2000 For Individuals Having Total Income upto Rs. 5 Lakh [Section 87a], TDS On Payment Of Accumulated Balance Under Recognized Provident Fund And Contribution From Approved Superannuation Fund, The Drawing And Disbursing Officers (DDOS) To Satisfy Themselves About The Genuineness Of Claim, Calculation Of Income-Tax To Be Deducted, Example For Income Tax Calculations

Download Comlplete Income Tax Guide for Salaried Individual

Reverse Mortgage (Amendment) Scheme, 2013: Disbursement & Period of Loan

Central Government has amended the Reverse Mortgage Scheme, 2008 by Reverse Mortgage (Amendment) Scheme, 2013 by NOTIFICATION NO.79/2013 F.No.149/54/2013-TPLDated 07-10-2013. Through this amendment Government has made the changes in Disbursement of loan, Period of reverse mortgage loan and define terms like annuity sourcing institution

NOTIFICATION NO.79/2013 [F.No.149/54/2013-TPLDated 07-10-2013

In exercise of the powers conferred by clause (XVI) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Reverse Mortgage Scheme, 2008, namely:—

1. (1) This Scheme may be called the Reverse Mortgage (Amendment) Scheme, 2013.

    (2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Reverse Mortgage Scheme, 2008, –

(1) in paragraph (2), after clause (a), the following clause shall be inserted, namely:-

“(ab) “annuity sourcing institution” means Life Insurance Corporation of India or any other insurer registered with the Insurance Regulatory and Development Authority established under sub-section

(1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);” ;

(2) in paragraph (3), in sub-paragraph (2), for the word, brackets and number “sub-rule (1)”, the word, brackets and number “sub-paragraph (1)” shall be substituted;

(3) for paragraph (5), the following paragraph shall be substituted, namely:-

(4) “5. Disbursement of loan. – The approved lending institution may disburse the loan, –

(a) to the reverse mortgagor by any one or more of the following modes, namely:-

(i) periodic payments to be decided mutually between the approved lending institution and the reverse mortgagor;

(ii) lump-sum payment in one or more tranches, to the extent that the aggregate of the amount disbursed as lump sum payments does not exceed fifty per cent of the total loan amount sanctioned; or

(b) in part or in full, to the annuity sourcing institution for the purposes of periodic payments by way of annuity to the reverse mortgagor.”;

(4) for paragraph (6), the following paragraph shall be substituted, namely:-

“6. Period of reverse mortgage loan.- The loan under reverse mortgage shall not be granted for a period exceeding,-

(i) twenty years from the date of signing the agreement by the reverse mortgagor and the approved lending institution, where the loan is disbursed in accordance with clause (a) of Paragraph 5;

(ii) the residual life time of the borrower, where the loan is disbursed in accordance with clause (b) of Paragraph 5.”.