Notification No.56 – Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2001-2002, 2002-2003 and 2003-2004
Notification No.543 – Income Tax It is notified for general information that enterprises/industrial under takings, listed at para. (3) below have been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2001-2002, 2002-2003 and 2003-2004
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 rough diamonds and other precious or semi-precious stones, unset and uncut, falling under Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from the whole of the duty of customs leviable thereon under the said First Schedule and the additional duty.
Circular No. 6/2001-Income Tax The Central Board of Direct Taxes vide Circular No. 742, dated 2-5-1996 had laid down certain guidelines for the computation of profits of FTCs from advertisement payments received by them from India. These guidelines were extended till further orders by Circular No. 765, dated 15-4-1998
To cite a specific example, the entry at S.No.41 of Chemical Group which reads as “Enalapril Maleate 2.5/5/10 mg. Tablets” would cover only such tablets. The entry at Sr.42 ibid which reads as “Erythromycin BP 88” would cover only the bulk drug. The formulations made out of erythromycin BP 88 shall not be covered Sr 42 but only under Sr. 37 and would be eligible for the reduced rate as per the said Sr.37.
