he stock exchanges are required to double their existing base minimum capital requirement for their members from Rs. 5 lakhs to Rs. 10 lakhs in the case of Bombay and Calcutta Stock Exchange, from Rs. 3.5 lakhs to Rs. 7 lakhs in the case of Delhi and Ahmedabad Stock Exchange and from Rs. 2 lakhs to Rs. 4 lakhs in the case of other stock exchanges.
Needless to mention that automation of stock exchanges is on priority agenda of SEBI. It is advised that all efforts are made to adhere to the schedule above for introduction of on-line trading system by the respective stock exchanges.
The major stock exchanges will set up Investor Information Centres to provide information about the rights and obligations of investors as well as about the listed companies on the stock exchanges.
The Stock Exchange is requested to ensure that hence- forth the notices of such meeting reach the concerned SEBI nominee Directors on the Exchanges well in time.
Notification No. S.O.25(E)-Income Tax In exercise of the powers conferred by sub-sections (1) and (3) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Directors of Income-tax (Exemption) specified in column 2 of the schedule hereto annexed, having their headquarters at the places specified in the corresponding entries in column 3 of the said schedule
In this connection, it is observed that while the Exchanges seek prior approval of SEBI for the appointment of Executive Director, all exchanges have not sought approval from SEBI for the constitution of the Committee for selection of Executive Director.
Circular No. 167/1/1996-CX The amendment has been made so as to provide that in respect of capital goods, other than those which are covered under sub-cluse (1) or items (ix) and (x) of sub-clause (d) of clause (1) of explanation to sub-rule (1) of rule 57Q and which are received in the factory of a manufacturer of final products on or after 1.1.1996, the credit shall not be taken in RG 23C, Part II until such capital goods have been installed or used in the factory of the manufacturer.
Circular No. 733-Income Tax The Finance Act, 1995 has introduced sub-section (4A) in section 80-IA of the Income-tax Act, 1961 providing for a five-year tax holiday and a deduction of 30 per cent in the subsequent five years within a period of twelve assessment years beginning with the assessment year in which an enterprise (which may be owned by a company or a Consortium of companies) begins operating and maintaining an infrastructure facility on Build-Operate-Transfer (BOT) or on Build-Own-Operate-Transfer (BOOT) basis, subject to
I am directed to refer to the instructions issued by the Board vide letter of even number dated 15th June, 1995 (Customs Circular No. 68/95) and to say that a doubt has arisen whether a “no objection” is required from Public Bonded Warehouse for availability of space there before granting licence for Private Bonded Warehouse (in the same area where the Public Bonded Warehouse exists) under
