Circular No. 14/2006-Income Tax The Finance Act, 2006 (hereafter referred to as the Act) as passed by the Parliament, received the assent of the President on the 18-4-2006 and has been enacted as Act No. 21 of 2006. This circular explains the substance of the provisions of the Act relating to direct taxes.
The principal notification No.81/2006-CUSTOMS (N.T.) was published in the Gazette of India, Extraordinary, vide number G.S.R.420(E), dated the 13th July, 2006 and was amended vide notification No. 116/2006-customs (N.T.) vide GSR 721 (E), dated the 22nd November, 2006.
The principal rules were published in the Gazette of India vide notification No. 4/2002-Central Excise (N.T.), dated the 1st March, 2002,[ GSR 143 (E), dated the 1st March, 2002], and were last amended vide notification No.18/2006-Central Excise (N.T.), dated the 30th September, 2006, vide [GSR 607(E), dated the 30th September, 2006.
