In exercise of the powers conferred by sub- section (7) of section 83 of the Finance Act, 2010 (14 of 2010), the Central Government hereby declares that the following provisions of the Central Excise Act, 1944 ( 1 of 1944) relating to the matters specified therein, shall be applicable in regard to like matters in respect of cess imposed under section 83 of the said Finance Act, namely :-
In exercise of the powers conferred by sub-section (2) of the section 83 of the Finance Act, 2010 (14 of 2010), the Central Government hereby appoints the 1st day of July, 2010, as the date on which the provisions of Chapter VII of the said Act shall come into force.
Notification No.46/2010-Income Tax It is hereby notified for general information that the organization Bhartiya Vaidayak Samanvaya Samiti, Nagpur has been approved by the Central Government for the purpose of clause (ii) of sub-section (I) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules,
On the basis of representations received seeking enhancement of limits, it has been decided that banks may waive margin/security requirements for agricultural loans from the existing level of Rs. 50,000/- to Rs. 1,00,000/- with immediate effect. Para 3 of our above circular, therefore, stands suitably modified.
Whereas the designated authority had initiated anti dumping investigation in the matter of imports of five phosphorous based chemical compounds, namely; (1) Phosphorous trichloride (PCL3), (2) Phosphorous Pentachloride (PCL5), (3) Phosphorous oxychloride (POCL3), (4) Triphenyl phosphite (TPPI), (5) Trimethyl phosphite (TMP), originating in or exported from European Union and China PR, vide notification No. 14/3/2009-DGAD, dated the 13th February, 2009;
Please refer to the Press Release dated August 10, 2009 on issuance of Government of India Cash Management Bills (CMBs), wherein, it has been stated that the Government of India, in consultation with the Reserve Bank of India, has decided to issue a new short-term instrument, known as Cash Management Bills, to meet the temporary cash flow mismatches of the Government. The CMBs will be non-standard, discounted instruments issued for maturities less than 91 days. Further, it has been stated that the CMBs will have the generic character of Treasury Bills.
S.O. (E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy – 2009-2014, the Central Government hereby amends Schedule – 1 (Imports) of the ITC(HS) Classifications of Export and Import Items, as under:
Notification No. 45/2010-Income Tax It is hereby notified for general information that the organization Hirabai Cowasji Jehangir Medical Research Institute, Pune has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules. 1962 (said Rules), from Assessment year 2007-08 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions, namely:-
Notification No. 44/2010-Income Tax It is hereby notified for general information that the organization Vedanta Cultural Foundation, Mumbai has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules)
Notification No. 43/2010-Income Tax Notification:-The Central Board of Direct Taxes (“CBDT”) has extended the enhanced exemption limit of INR 10 lakhs to the employees of companies who do not fall under the provisions of the Payment of Gratuity Act, 1972. The notification will be effective from 24 May 2010.
