CHANGES IN CUSTOMS ACT, 1969 THROUGH FINANCE BILL 2013-14 Section 2 Definitions Scope of definition of ‘Goods Declaration’ has been enlarged to cover ‘transhipment of goods’ (TP). Section 3DDD Directorate General of Input Output Co-efficient Organization. A new section has been inserted to create Directorate General of IOCO. Section 14-A Provision of security and…
SALIENT FEATURES INCOME TAX Basic exemption limit is neither enhanced for salaried taxpayers nor for non salaried taxpayers. Two further slabs are added which results in increase in rates charged to high earners. Six further slabs are added which results in increase in rates charged to high earners. Marginal relief is withdrawn. Existing five slabs…
Section 2 Definitions It is proposed that in section 2, after clause (24), the following new clause be added:- “(24A) “whistleblower” means whistleblower as defined in section 42D of the Federal Excise Act, 2005” The definition of whistleblower as contained in section 42D is reproduced hereunder for ease of reference:- “For the purpose of…
