Notification No. 11047/1999 – 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 1999-2000, 2000-2001 and 2001-2002
Some doubts have been raised by the field formations and certain sections of the Trade as regards the applicability of All Industry Rate of Drawback under S.S. No 62.01 of the Drawback Table to the Woollen Garments not specified in S.S. No. 62.09 ibid
References have been received from the field on the subject issue, seeking clarifications on the scope of Board”s Circular Nos. 6/99-Cus. dated 17.2.99 and 10/99-Cus. dated 10.3.99 vis-a-vis DGFT”s Policy Circular No. 67 (RE-98)/98-99 dated 19.2.99
Notification No. 11044/1999 – Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “Arulmigu Atcheeswarar Temple”, Acharapakkam, Kanchipuram to be a place of public worship of renown throughout the State of Tamil Nadu and other nearby States for the purpose of the said section
It has been brought to the notice of Board by the Directorate General of Shipping, Ministry of Surface Transport, Mumbai that foreign flag sips are plying on the Indian Coast without obtaining licences from the D.G.Shipping, Mumbai under Sections 406 / 407 of the Marine Shipping Act, 1958. Attention has been drawn to Section 410 of the said Act, which states that “no Customs Collector
Circular No. 481/47/99-CX I am directed to draw your attention to Board”s Circular No. 426/59/98-CX dated 12.10.98 regarding special facility of self-certification/self-sealing to large manufacturer-exporters and to say that difficulties are being experienced by such exporters in furnishing information ofspecific date and time of sealing/stuffing and clearance in the export plan in terms of para 4 of the above mentioned Circular.
Circular No. 480/46/99-CX Normally in all cases of closure of bank business due to strike by bank employees, the Public gets advance intimation either through the press, or otherwise. In all such cases, the Commissioner should issue suitable Trade Notice to assessee requiring them to make advance arrangements to deposit money into the banks and keep sufficient amounts in their P.L. As so that they do not face any difficulty in the clearance of the goods during period of the strike.
SEBI had taken a meeting of Depositories, Depository Participants, Registrars and Share Transfer Agents and Registrar Association of India (RAIN) on August 16, 1999. As discussed in the meeting, it has been decided that:
Inter-depository trasfer of shares do not attract stamp duty. Inter-depository transfer of securities also do not require compliance with the formalities prescribed under section 108 of the Companies Act 1956.
Circular No. 778-Income Tax The Finance Act, 1999, has made amendment in section 35(1) of the Income-tax Act, 1961, by which the approval under section 35(1)(ii) and section 35(1)(iii) of the Income-tax Act shall be granted by the Central Government instead of prescribed authority [Director General of Income-tax (Exemption), in concurrence with Secretary, Department of Scientific and Industrial Research
