Circular No. 2 of 2004-Income Tax A decision was taken by the Board in January, 2003 regarding the requirement of obtaining Income-tax Clearance Certificates by various persons. It was decided that with effect from the 1st January, 2003, no Income-tax Clearance Certificate shall be required to be furnished by any person while filing a tender for the purpose of obtaining commercial contracts.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
