"February, 1991" Archive

Notification No. S.O.151(E) – Income Tax Dated 28/2/1991

Notification No.S.O.151(E) - Income Tax (28/02/1991)

Notification No.S.O.151(E) - Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies "GIC Mutual Fund", set up by the General Insurance Corporation of India, a body corporate incorporated under the provisions of the Companies Act, 1956 ...

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Circular No. 594-Income tax dated 27-2-1991

Circular No. 594-Income tax (27/02/1991)

Circular No. 594-Income tax The agents of Standardised Agency System, Post Office Time Deposits and Unit Trust of India, have drawn the attention of the Board to the fact that where no detailed accounts are maintained and the gross commission received by them is less than Rs. 60,000, the benefit of an ad hoc deduction for expenses, at th...

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Notification No. S.O.948 – Income Tax Dated 25/2/1991

Notification No.S.O.948 - Income Tax (25/02/1991)

Notification No.S.O.948 - Income Tax 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 the " Sri Navansetheswaraswamy Temple, Sikkal, Tamil Nadu ", to be a place of historical and archaeological importance and a place of pu...

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A.L.A. Firm v. CIT (Supreme Court) (1991) 189 ITR 285 (SC)

A.L.A. Firm Vs. Commissioner Of Income Tax, Madras (Supreme Court of India)

Section 147(b)-Scope of-Assessment year 1961-62-Reassessment-Interpretation and meaning of the word information-Material coming to the notice of the Income Tax Officer subsequent to original assessment-Meaning of the word Escape. Dissolution of Firm-Valuation of closing stoc- Principles-In continuing business closing stock to be valued at...

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Notification No. S.O.93(E) – Income Tax Dated 13/2/1991

Notification No.S.O.93(E) - Income Tax (13/02/1991)

Notification No.S.O.93(E) - Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies " 10-year 9 per cent. (tax-free) Secured Redeemable Non-Convertible Railway Bonds V Series ", issued by the Indian Railway...

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Notification No. S.O.816 – Income Tax Dated 12/2/1991

Notification No.S.O.816 - Income Tax (12/02/1991)

Notification No.S.O.816 - Income Tax In exercise of the powers conferred by clause (ix) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies "Indira Gandhi National Centre for Arts, New Delhi", for the purpose of the said sub-clause for the assessment years 1991-92 to 1994-95...

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Circular No. 593-Income Tax dated 5/2/1991

Circular No. 593-Income Tax (05/02/1991)

Circular No.593 - Income Tax Under the Finance (Second Amendment) Ordinance, 1990 promulgated on 15-10-1990 the rate of surcharge on income-tax in the case of domestic companies having taxable income exceeding Rs. 75,000 was increased from 8 per cent to 15 per cent. The Taxation Laws (Amendment) Bill, 1990 was introduced in the Lok Sabha...

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Circular No. 592-Income tax dated 4-2-1991

Circular No. 592-Income tax (04/02/1991)

Circular No. 592-Income tax Section 10(4 )(ii) of the Income-tax Act, 1961 provides for exemption from income-tax in the case of an individual, who is a person resident outside India as defined in clause (q) of section 2 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), on any income by way of interest on moneys standing to his c...

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SEBI: Disclosure of clients and transaction details

Ref . SE/ (04/02/1991)

Recently some stock brokers have been declared as defaulters by certain Stock Exchanges. The important among the reasons for this event as reported in the press were the default on the part of clients and/or over trading by clients and or brokers. ...

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SEBI: Contract notes and brokerage

Ref SE/ (04/02/1991)

We invite your attention to the bye-laws and rules framed by the Stock Exchange under the Securities Contracts (Regulation) Act, and the Rules thereunder which require that the member-brokers of the Stock Exchange should issue contract notes to their clients for the securities sold and purchased by them on behalf of the clients. ...

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