In exercise of the powers conferred by Sub-section (2) of Section 1 of the Companies (Amendment) Act, 2006 (23 of 2006), the Central Government hereby appoints the 1st of November, 2006 as the date on which the prOvisions of Sections 2 and 3 of the said Act shall come into force
The issuer company shall make prompt, true and fair disclosure of all material developments taking place during the period mentioned hereunder, relating to its business and securities and also relating to the business and securities of its subsidiaries.
The Venture Capital Funds are advised to confirm compliance of the above as early as possible but not later than 2 months from the date of this circular.
Notification No. 287-Income Tax Whereas the annexed Convention between the Government of the Republic of India and the Government of the Kingdom of Saudi Arabia for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income shall come into force on the 1st day of November, 2006, being the first day of the second month following the month in which the later
Service tax is leviable with effect from 1st May, 2006 on services provided by an aircraft operator to passengers embarking in India for international journey by any class, other than economy class, under section 65(105)(zzzo) read with section 66 of the Finance Act 1994. Board of Airline Representatives in India (BAR) have sought clarifications on the levy of service tax on the above mentioned service.
In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification, issued from time to time, in exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the said Customs Act.
In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962, (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.36/2001-Cus (N.T.), dated, the 3rd August 2001.
Circular No. 10/2006-Income Tax Reference is invited to Board’s Circular No. 10/2003 dated 24th December, 2003 which provided that an individual deriving income from growing and curing of coffee who is not covered by the first proviso to section 139(1) of the I.T. Act, would not be required to file a return of his income if his income from growing and curing of coffee was Rs. 2 lakhs or less.
Convertible Instruments shall be deemed to be fully paid up for the purpose of clause (I), if the entire amount payable thereon has been paid and no further payment is envisaged to be made at the time of their conversion.
