Circular No. 30/30/94-CX Instructions contained in the aforesaid letter envisage that before launching any prosecution, it is necessary that the department should have evidence to prove that the person, company or individual had guilty knowledge of the offence or had fraudulent intention to commit the offence or in any manner possessed mens-rea (mental element) which would indicate his guilt
Circular No. 682-Income tax A Convention for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes of income and capital gains was entered into between the Government of India and the Government of Mauritius and was notified on 6-12-1983. In respect of India, the Convention applies from the assessment year 1983-84 and onwards
The matter was also raised in SEBI’s Secondary Markets Advisory Committee and the Committee was of the view that all the above claims against the defaulting member should be ranked on par and rateably distributed.
The matter was also raised in SEBI’s Secondary Markets Advisory Committee and the Committee was of the view that all the above claims against the defaulting member should be ranked on par and rateably distributed.
Cir. No. 29/29/94-CX I am directed to invite your attention to the provisions of Rules 52A and 173C of Central Excise Rules, 1944, as introduced by Notification No. 4/94-CE(NT) dated 1.3.94. These provisions come into force w.e.f. 1st April, 1994.
Under Regulation 11 of SEBI (Stock Brokers and Sub-Brokers) Rules and Regulations, 1992 the stock exchanges are required to forward the applications of sub-brokers to SEBI after certifying that the applicants are eligible for registration.
Circular No-681-Income tax Clarification on several points arising out of the scheme of tax deduction at source from payments made to contractors and sub-contractors in certain cases have been given in this circular and printed in the bulletin
Cir. No. 28/28/94-CX In continuation of this Department”s letter of even number dated 21.07.93 it is informed that vide sub-clause (a) of clause 63 of the Finance Bill, 1994, section 3(3) of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 has been imposed to be amended so as to explicitly provide that the provisions of the Central Excise Act and Rules made thereunder relating to Offences and Penalties shall be applicable in respect of this Act also.
Circular No : 681 Subject: Deduction of income-tax at source under section 194C of the Income-tax Act, 1961, from payments made to contractors/sub-contractors-Supreme Court judgment dated 23rd March, 1993, in Associated Cement Co. Ltd. v. CIT-Instructions-Regarding. Sub-section (1) of section 194C of the Income-tax Act, 1961, lays down that any person responsible for paying any sum to any resident (herein-after referred to as ”contractor”) for carrying out any work (including supply of labour for carrying out any work)
Cir.No. 25/25/94-CX It has been brought to the Board”s notice that there is no uniformity in the crediting of the collected on account of sale of rejects and 25% of production into Domestic Tariff Area by the EPZ/100% EOUs. This has been examined and it is clarified that such duty is charged under section 3 of the Central Excise & Salt Act and therefore it should be credited under the sub-head “0038 – Union Excise Duties”.
