Notification No. 522 – Income Tax It is notified for general information that “Vysya Bank Housing Finance Ltd., Bangalore”, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002
Supplies made by foreign buyers or procured by the exporters on the advice of foreign buyers, of labels, price tags, hangers PVC boxes, Inlay cards, printed bags, stickers and trimming materials like buttons, belts, shoulder pads, buckles, Eyelets, Hooks and Eyes and Rivets to be attached to the goods against specific orders placed by foreign buyers on Indian exporters, may be imported without a licence.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column (2) of the Table below when imported into India from Pakistan or Bangladesh from whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and whole of the additional duty.
Notification S.O. 418 corrects the earlier Notification No. 10775 under section 10(23G) of the Income Tax Act, 1961 issued on 2nd January 1999.
