Circular No. 687-Income tax Kisan Vikas Patras were introduced on 1st April, 1988. The Department of Economic Affairs, Ministry of Finance, in its notifications dated 23-3-1988, 16-12-1991, 24-4-1992 and 2-9-1993 had specified the amount payable on these after 2½ years and up to the date of maturity. However, interest and maturity amount during 2½ years had not been provided in these notifications
Circular No. 50/50/94-CX It has been brought to the notice of the Board that divergent practices are being followed in different Collectorates in extending the benefit of Notification No. 1/93-CE to branded elastic tapes. The brand name or logo of the customer is reported to be woven in the tape by the manufacturers.
Notification No. S.O.600(E)-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table below for the financial year mentioned in the corresponding entry in column (2) of the said Table.
Circular No. 686-Income Tax Reference is invited to Board’s Circular No. 685, dated 20-6-1994 (File No. 275/69/94-ITB) providing for non-initiation of proceedings under section 221/276B/271C of the Income-tax Act, 1961 in respect of employers defaulting in deducting tax at source on the salaries and allowances paid abroad or perquisites provided abroad to their employees for services rendered in India.
Of late it was observed that the promoters of persons for the time being in charge of the management of companies were making preferential allotment of shares etc to a select group of persons , including themselves , at prices unrelated to the prevailing market prices of such instruments.
Circular No. 47/47/94-CX I am directed to refer Board’s Circular No. 16/92-CX.6 (F.No. 208/59/92-CX.6) dated 12.11.1992 wherein instructions were issued to the effect that Central Excise Officers were to allow a period of three months from the date of decision for payment of dues adjudged before resorting to coercive measures to recover such dues.
means an offer of sale or purchase of securities by any body corporate or by any other person or group of persons on his or its or their behalf, as the case may be, to or from the public, or the holders of securities of such body corporate or person or group of persons
(A) declares that – (a) the samples have been imported into India solely for the purpose of being shown in India for the guidance of exporters or for securing or executing an export order; (b) the total import value of samples does not exceed Rs. 60,000 or 15 units in number, within the period of the last twelve months; and (B) produces an undertaking to the Assistant Commissioner of Customs or Deputy Commissioner of Customs to pay the duty leviable on the said goods but for the exemption contained herein, if the declaration under clause (A) is found to be false.
In exercise of the powers conferred under sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do hereby exempts goods (hereinafter referred to as the said goods) of the description specified in column (2) of the Table hereto annexed and falling within the First Schedule to the Customs Tariff Act, 1975.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government/ being satisfied that it is necessary in the public interest so to do, hereby exempts goods (hereinafter referred to as the said goods) of the description specified in column (2) of the Table hereto annexed and falling within the First Schedule to the Customs Tariff Act, 1975 .
