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TMI BlogCommodities Transaction Tax Rules, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Income-tax Act, 1961 (43 of 1961), or the rules made thereunder, shall have the meanings respectively assigned to them in those Acts and rules. 3. Agricultural commodities. ─ For the purposes of clause (7) of section 116 of the Act, the agricultural commodities shall be the following, namely:- (i) Almond (ii) Barley (iii) Cardamom (iv) Castor Seed (v) Channa/Gram (vi) Copra (vii) Coriander/Dhaniya (viii) Cotton (ix) Cotton seed Oilcake/Kapasia Khali (x) Guar Seed (xi) Isabgul Seed (xii) Jeera (Cumin Seed) (xiii) Kapas (xiv) Maize Feed (xv) Pepper (xvi) Potato (xvii) Rape/Mustard Seed (xviii) Raw Jute (xix) Red Chilli (xx) Soya bean/seed (xxi) Soymeal (xxii) Turmeric (xxiii) Wheat 4. Rounding off value of taxable commodities transaction, commodities transaction tax, etc. ─ The value of taxable commodities transaction and the amount of commodities transaction tax, interest and penalty payable, and the amount of refund due, under the provisions of Chapter VII of the Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ised association, ─ (i) being a company, by the managing director or a director thereof; and (ii) in any other case, by the principal officer thereof. 8. Time limit to be specified in the notice calling for return of taxable commodities transaction. ─ Where an assessee fails to furnish the return under sub-section (1) of section 120 of the Act within the time specified in sub-rule (2) of rule 6, the Assessing Officer may issue a notice to such person requiring him to furnish, within thirty days from the date of service of the notice, a return in the Form prescribed in rule 6 and verified in the manner indicated therein. 9. Notice of demand. ─ Where any tax, interest or penalty is payable in consequence of any order passed under the provisions of Chapter VII of the Act, the Assessing Officer shall serve upon the assessee a notice of demand in Form No. 2 specifying the sum so payable. 10. Prescribed time for refund of tax to the person from whom such amount was collected. ─ Every assessee, in case any amount is refunded to it on assessment under sub-section (2) of section 121 of the Act, shall, within thirty days from the date of receipt of such amount, r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion Tax Rules, 2013. I further declare that I am making this return in my capacity as ____________________________ and I am also competent to make this return and verify it. Date ____________ Place ____________ (Name and Signature) SCHEDULE - A Sl. No. Clearing member code Member name Member Code PAN of member Details of intermediary, if any Client name Client PAN Unique client code Value of taxable commodities transactions (in Rs.) Commodities transaction tax collectible (in Rs.) Regulator/ FMC unique member code Association Member code Name PAN 1 2 3 4 5 6 7 8 9 10 11 12 13 TOTAL SCHEDULE - B Month Value of taxable commodities transactions during the month Commodities transaction tax collectible (in Rs.) Commodities transaction tax collected (in Rs.) Commodities transaction tax paid (in Rs.) Interest payable u/s. 123 (in Rs.) Interest paid u/s. 123 (in Rs.) Particulars of payment of commodities transaction tax/ interest u/s. 123 Tax/ Interest (in Rs.) Name of the bank branch BSR code of bank branch Date of deposit Serial No. of challan Amount (in Rs.) 1 2 3 4 5 6 7 8 9 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay the amount within the period specified above, proceedings for the recovery thereof will be taken in accordance with sections 222, 227, 229 and 232 of the Income-tax Act, 1961 read with section 128 of the Finance Act, 2013. 6. If you intend to appeal against the assessment or penalty, you may present an appeal under section 129 of the Finance Act, 2013, to the Commissioner of Income-tax (Appeals)…………. within thirty days of the receipt of this notice, in Form No. 3 as prescribed in rule 11, duly stamped and verified as laid down in that form. 7. The amount has become due as a result of the order of the Commissioner of Income-tax (Appeals) under section 129 of the Finance Act, 2013. If you intend to appeal against the aforesaid order, you may present an appeal under section 130 of the said Act to the Income-tax Appellate Tribunal ……within sixty days of the receipt of that order, in Form No. 4, as prescribed in rule 12, duly stamped and verified as laid down in that form. Place ………………… Date………….. Assessing Officer ……………&helli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter VII of the Finance Act, 2013, under which the Assessing Officer passed the order appealed against and the date of such order 12. Address to which notices may be sent to the appellant …………….. Signed (Appellant) STATEMENT OF FACTS GROUNDS OF APPEAL …………….. Signed (Appellant) Form of Verification I, ……………………….…., the appellant, do hereby declare that what is stated above is true to the best of my information and belief. Verified today the ………………….. day of ………………………… Place …………. …….…………. Signature Notes: 1. The form of appeal, grounds of appeal and the form of verification appended thereto shall be signed by a person in accordance with the provisions of rule 7 of Commodities Transaction Rules, 2013. 2. The memorandum of appeal, statement of facts and the grounds of appeal shall be in duplicate accompanied by a copy of the order appealed again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellip;… …….…………. Signed (Authorised representative, if any) Signed (Appellant) Verification I, …………………., the appellant, do hereby declare that what is stated above is true to the best of my information and belief. Verified today the ………………….. day of ………………………… Place …………. Signed Notes: 1. The memorandum of appeal shall be in triplicate accompanied by two copies (at least one of which should be a certified copy) of the order appealed against, two copies of the relevant order of the Assessing Officer, two copies of the grounds of appeal before the first appellate authority, two copies of the statement of facts, if any, filed before the said appellate authority. 2. The memorandum of appeal by an assessee under sub-section (1) of section 130 of Chapter VII of Finance Act, 2013 shall be accompanied by a fee of one thousand rupees. 3. The fee shall be credited in a branch of the authorised Bank or a branch of the State Bank of India ..... X X X X Extracts X X X X X X X X Extracts X X X X
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