Circular No. 764-Income Tax References have been received as to whether the transport allowance granted to the Central Government employees on the recommendations of the Fifth Central Pay Commission forms part of taxable salary for the purposes of deduction of tax at source.
Circular No. 376/9/98-CX Representations have been received from the EHTP Units through the Department of Electronics that there is inordinate delay in rewarehousing the import consignments by the excise ranges. It has been represented that the excise ranges take almost a day in -re warehousing the bonded goods from the port of import to the EHTP Units. As a consequence of this production gets held up till the consignment is re-warehoused.
Circular No. 375/8/98-CX Requests have been received from the Ministry of Commerce as well as from the Trade that Notification No. 2/95-CE dated 4.1.95 should be amended, doing away with the requirement of a certificate to be issued by the Development Commissioner in terms of the 4th proviso of the notification. This certificate is regarding fulfilment of conditions specified in the 3rd proviso of the notification with respect to goods cleared from EOU/ Unit in FTZ into the DTA.
Circular No.763 – Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1997-98, the rates of income-tax (including surcharge thereon in the case of domestic companies) have been specified in Part I of the First Schedule to the Act. These rates are the same as laid down in Part III of the First Schedule to the Finance (No. 2) Act, 1996, for
Circular No.762 – Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1996-97, the rates of income-tax (including surcharge thereon in the case of domestic companies) have been specified in Part I of the First Schedule to the Act. These rates are the same as those laid down in Part III of the First Schedule to the Finance Act, 1995
Insistence by the company that the RTA produce a certificate from a practising company secretary that all transfers have been completed within the stipulated time.
It has come to notice of the Board that the assessing officers do not put their full signatures on the shipping bills. They merely put their initials on the shipping bills with a rubber stamp inducting the name of the office and in some cases, just an initial. It makes easier to forge such signatures. In the latter cases, there is no way of knowing at a future data the name of officer who had put the
I am directed to refer to board’s letter F.No.446/44/92-Cus. IV dated the 20th Sept., 1997 on the above subject. The said procedure was applicable for goods landed upto 31st March, 1997 and lying unclaimed/ uncleared in the air cargo complexes
References have been received from India Trade Promotion Organization, which organises export of Indian goods for exhibitions abroad and their subsequent re-import into the country, that during re-import a considerable time is taken at the Ports for examination of such goods
It has come to the notice of the Board that many parties had fraudulently cleared imported cargo from Bonded warehouses under Sec. 90 of the Customs Act, 1962 duty free for delivery to Naval Ships. Similar clearances were also noticed duty free under Notfn. No. 211/ 83 for use as ship spares. The modus-operandi in both cases were to clear the goods from the bonds and divert them to the local
