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.
Reference is invited to the Department of Commerce Notification No. 34 dated 9th February , 2004 regarding import of vehicles, the list of International accredited agencies for issuance of Type Approval Certificate / COP is given below.
Circulation of Notification No. S.O.128(E) dated 28.01.2004-Constitution of a Committee to administer the Investor Education and Protection Fund established by the Central Government vide Notification No. GSR 749(E) dated 1.10.2001.
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts(regulation) Act 1956,
The format of the Monthly Cumulative Report has been revised to incorporate the disclosure of average asset under management, data on total number of investors in the schemes and the data on Fund of Funds scheme.
The issue of importability of capital goods/equipments required by the Service Providers for rendering service under DFCEC Scheme for Service Providers was re-examined in consultation with DGFT.MOC recently and in terms of Notification issued by DGFT on 28.1.2004, it has been decided to inter- alia permit import of any capital goods (which are required by the Service Providers for rendering service).
Special provisions relating to Special Economic Zones were inserted in the Customs Act through Finance Act, 2002 by creating a new Chapter XA (vide Sections 76A to 76N) and the aforesaid provisions were to be brought into operation from a date to be notified.
Moreover, as a one-time measure, the persons who have already been exempted from the certification test as per the earlier criteria (i.e., above 60 years of age and having experience of atleast 2 years) shall continue to be exempted from the certification requirement.
I am directed to state that the Board has examined the proposal for specifying the jurisdiction of Chief Commissioners of Central Excise relating to allocation of Appeal cases within their respective jurisdictions amongst Commissioners of Central Excise (Appeals). References have been received to consider specifying the jurisdiction of Chief Commissioners of Central Excise
