Circular No. 5 of 2002-Income Tax The Finance Act, 1995, has enlarged the scope of income-tax deduction at source by making various amendments. In regard to the changes introduced through the Finance Act, 1995, a number of queries have been received from the various associations and professional bodies on the scope of tax deduction at source.
I am directed to say that the monthly revenue figures of service tax are routinely required by the Board for taking policy decisions. A software for capturing the total service tax revenue from each Commissionerate for each month has been developed by Directorate of Systems and is installed at website – http.//sermon nic.in. This website can be of help only if all commissionerates post data on service tax regularly
Notification No. 192-Income Tax It is notified for general information that enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2002-2003, 2003-2004
It may be clarified here that though the powers under statute now vest with Chief Commissioner of Customs, the above guidelines are warranted in order to have uniform approach throughout the country.
Apart from these specific situations, it is reiterated that transhipment permits should not be refused under any circumstances and any complaints in this regard will be viewed seriously.
The principal notification was published in the Gazette of India vide notification No. 62/94-Customs (NT), dated the 21st November, 1994 [S.O.829 (E), dated the 21st November, 1994] and last amended by notification No. 41/2002-Customs (NT), dated the 27th June, 2002.
the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st August, 2002, be the rate mentioned against it in the corresponding entry in column (3) thereof.
In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of Customs Act, 1962 (52 of 1962) and in supercession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.39/2002-NT-Customs, dated the 26th June, 2002 [S.O.669(E) dated the 26th June, 2002], the Board hereby determines for the purposes of said section, relating to imported goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st August, 2002.
In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs, Air Cargo Complex, Sahar, Mumbai to act as Commissioner of Customs, New Custom House, Ballard Estate, Mumbai, Commissioner of Customs, Kolkata and Commissioner of Customs, Air Cargo Complex, Chennai for the purpose of adjudicating the Show Cause Notice pertaining to M/s. Sanghvi Reconditioners Pvt. Ltd., 4th Floor, Mahavir Darshan, M.N.Koli Marg, Masjid, Mumbai – 400 003 issued vide F.No.DRI/BZU/E/4/99, dated the 28th February, 2002 by the Additional Director General (Hqrs.), Directorate of Revenue Intelligence, New Delhi.
am directed to forward herewith a copy of the following Notification published in the Gazette of India (Extraordinary) for your information and necessary action
