"October, 1993" Archive

Notification No. S.O.825(E) – Income Tax Dated 29/10/1993

Notification No.S.O.825(E) - Income Tax (29/10/1993)

Notification No.S.O.825(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 ICICI Mutual Fund set up under Trust deed dated 25th August, 1993, by the Industrial Credit and Investment Corporation of India Limited, a public finan...

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Circular No. 671-Income Tax dated 27-10-1993

Circular No. 671-Income Tax (27/10/1993)

Circular No. 671-Income Tax References have been received as to whether the amount paid by an assessee for obtaining a new telephone connection under the "Tatkal Telephone Deposit Scheme" can be allowed as a revenue expenditure under section 37(1) of the Income-tax Act, 1961, while computing the income under the head "Profits and gains fr...

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SEBI : Submission of Audit Certificates by brokers.

SMD-II(N)/22718/93 (27/10/1993)

Please refer to our letter No.SMD/SED/0012/92, dated December 31, 1992 regarding the aforesaid subject. In this regard, I draw your attention to the Circular No. F1/5/SE/83, of Govt of India, Ministry of Finance, Department of Economic Affairs...

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Circular No. 670-Income Tax dated 26-10-1993

Circular No. 670-Income Tax (26/10/1993)

Circular No. 670-Income Tax I am directed to forward herewith the order contained in F. No. 225/208/93/ITA-II, dated 12th October, 1993, passed by the CBDT in exercise of the powers conferred on it under section 119(2)(b) of the Income-tax Act. By virtue of this order the Assessing Officers can admit belated refund claims under section 2...

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Circular No. 669-Income tax dated 25-10-1993

Circular No. 669-Income tax (25/10/1993)

Circular No. 669-Income tax Attention is invited to Board’s Circular No. 581, dated 28-9-1990 [Clarification 1], wherein it was, inter alia, stated that where a deduction claimed is disallowed as, prima facie, inadmissible for want of evidence in support thereof under section 143(1)(a), it cannot be subsequently allowed by a rectificati...

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SEBI : Capital Adequacy Norms For Brokers

Circular No. SMD/SED/CIR/93/22570 (21/10/1993)

This has reference to SEBI’s letter No. SMD-I/11087/92 dated 4th November, 1992. On receiving the comments from various stock exchanges on the norms circulated by us it has been decided that the norms as set out in the annexure shall be made applicable to the stock brokers in all the stock exchanges....

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Notification No. S.O.2463 – Income Tax Dated 21/10/1993

Notification No.S.O.2463 - Income Tax (21/10/1993)

Notification No.S.O.2463 - Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of the said sub-clause, any police officer not below the rank of Superintendent of Police or any officer specially autho...

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Circular No. 668-Income tax dated 20-10-1993

Circular No. 668-Income tax (20/10/1993)

Circular No. 668-Income tax According to the provisions of section 249(2)(c) an appeal has to be presented within 30 days from the date of service of the order sought to be appealed against. Also, the proviso under section 154(2)(b ) provides that if the Assessing Officer does not rectify, within a period of three months from the end of t...

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SEBI : RPM circular No.1(93-94)

RPM circular No.1(93-94) (20/10/1993)

Statements made about the performance or activities of the Portfolio Manager in the absence of necessary explanatory or qualifying statements, which may give an exaggerated picture of the performance or activities of the Portfolio Manager, than what it really is....

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SEBI : INB to be on C/N & transfer deed

Ref.SMD-I/22532 (19/10/1993)

This is to facilitate the last purchaser, in the event of any problems of bad delivery etc., to approach the first introducing broker for rectification of defect(s). However in the absence of any indication of Stock Exchange of which the introducing broker is a member, this task is rendered rather difficult....

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Circular No. 667-Income tax dated 18-10-1993

Circular No. 667-Income tax (18/10/1993)

Circular No. 667-Income tax Sections 54 and 54F provide for a deduction in cases where an assessee has, within a period of one year before or two years after the date on which the transfer of a capital asset takes place, purchased, or has within a period of three years after that date constructed, a residential house. The quantum of ded...

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Circular No. 666-Income tax dated 8-10-1993

Circular No. 666-Income tax (08/10/1993)

Circular No. 666-Income tax Reference is invited to the Board’s Circular No. 632, dated the 20th August, 1992 on the above subject. According to the provisions of section 194C of the Income-tax Act, 1961 any person responsible for paying any sum to any resi­dent contractor for carrying out any work (including supply of labour for carr...

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SEBI (Underwriters) Regulations 1993

Notification No. S.O 766(E) (08/10/1993)

- For the purposes of this clause the Board shall take into account whether a previous application for a certificate of any person directly or indirectly connected with the applicant has been rejected by the Board or any disciplinary action has been taken against such person under the Act or any of the Rules or any of the Regulations made...

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Circular No. 665-Income tax dated 5-10-1993

Circular No. 665-Income tax (05/10/1993)

Circular No. 665-Income tax By Circular No. 599, dated 24-4-1991 (see clarification 2), it was clarified that securities held by banks must be regarded as their stock-in-trade and the claim of loss, if debited in the books of account, should be given the same treatment as is normally given to the stock-in-trade. It was also clarified that...

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