https://www.taxtmi.com/article/detailed?id=2071 The Finance Bill, 2013 imposes a Commodities Transactions Tax on sale of non agricultural commodity derivatives traded in recognized associations, payable by sellers and collected by the recognized association on the transaction value; it mandates monthly remittance, annual returns, Assessing Officer powers to assess within a two year limitation, refund and amendment procedures subject to notice and hearing, application of specified Income Tax Act procedural and recovery provisions, interest and penalties for non collection or non payment, and criminal sanctions for false statements, with available set off for traders. en-us Thu, 07 Mar 2013 13:26:46 +0530 Thu, 07 Mar 2013 13:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2071 The Finance Bill, 2013 imposes a Commodities Transactions Tax on sale of non agricultural commodity derivatives traded in recognized associations, payable by sellers and collected by the recognized association on the transaction value; it mandates monthly remittance, annual returns, Assessing Officer powers to assess within a two year limitation, refund and amendment procedures subject to notice and hearing, application of specified Income Tax Act procedural and recovery provisions, interest and penalties for non collection or non payment, and criminal sanctions for false statements, with available set off for traders. Articles Income Tax Thu, 07 Mar 2013 13:26:46 +0530 https://www.taxtmi.com/article/detailed?id=2071