76 dated 02 02 1972
Circular No. 76 was issued by the Central Board of Direct Taxes on 2 February 1972. Its subject is 76 dated 02 02 1972.
This grants an exemption or a relief under a provision that allows one. Read the conditions attached: an exemption notification is construed strictly, and a condition missed is the exemption lost.
Carries two notifications. The first, issued under section 3 of the United Nations (Privileges and Immunities) Act, 1947, declares that section 18(b) of article V of the Schedule to that Act applies mutatis mutandis to officials of the International Jute Organisation, Dhaka, with the modification that exemption from income-tax extends only to officials of Indian nationality and is limited to the salaries and emoluments paid to them by that organisation. The second, under regulation 42 of the Unit Trust of India General Regulations, 1964 and in supersession of an earlier notification of 3 January 1981, authorises named grades of Unit Trust officers to sign on the Trust's behalf: Chief General Managers down to Assistant General Managers may endorse and transfer securities, draw and endorse bills, sign deeds, conveyances, transfer deeds, applications for shares, orders for Government securities through the Reserve Bank of India, cheques and delivery instructions; Managers and Deputy Managers may sign cheques, delivery instructions, letters and receipts; and staff officers may sign letters and issue receipts in their divisions.
The first notification extends the immunity available to United Nations officials to a named international organisation on a restricted basis; the second replaces an earlier delegation of signing powers within the Unit Trust of India.
OTHERS
1493. United Nations (Privileges and Immunities) Act, 1947 - Notification under section 3 - Exemption from income-tax to officials of International Jute Organisation, Dhaka (Bangladesh)
In exercise of the powers conferred by section 3 of the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947), the Central Government hereby declares that the provisions of clause (b) of section 18 contained in article V of the Schedule to the said Act shall apply mutatis mutandis to the officials of the International Jute Orgnisation, Dhaka (Bangladesh), an International Organisation, subject to the modification that exemption from income-tax shall extend only to the officials of the said organisation who are of Indian nationality and shall be limited to the salaries and emoluments paid to them by the said organisation.
Notification : SO 914(E), dated 1-11-1989.
1494. Unit Trust of India General Regulations, 1964 - Notification under regulation 42 - Authorisation to incumbents to exercise signing powers on behalf of Trust
In pursuance of regulation 42 of the Unit Trust of India General Regulations, 1964, and in supersession of the Notification No. UT/120/Secy. 52/80-81, dated January 3, 1981, and published in the Gazette of India, dated January 3, 1981, in Part III, section 4, the Board of Trustees of the Unit Trust of India hereby authorise the incumbents of the undernoted posts to exercise signing powers on behalf of the Trusts as shown below : —
1. Chief General Manager/s.
2. General Manager/s.
3. Joint General Manager/s.
4. Deputy General Manager/s.
5. Deputy General Manager/s or Officer-in-Charge at the Regional Offices of the Trust.
6. Assistant General Manager/s.
To endorse and transfer promissory notes, stock receipts, debentures, stock, shares and all other securities and documents of title to goods whatsoever standing in the name of or held by the Trust, and to draw, accept and endorse bills of exchange and all other instruments in the current and authorised business of the Trust and to sign all deeds, agreements, instruments and writings of whatever nature, lease deeds, transfers, conveyances and other deeds relating to or affecting rights to or in immovable property and to sign all other accounts, certificates, receipts and documents connected with the authorised business of the Trust, including transfer deeds for purchase or sale of shares and debentures, transfer deeds for new shares allotted by a company or other body corporate to the Trust, applications for new shares of a company or other body corporate, fractional coupons for rights and bonus issue of a company or other body corporate, sale and repurchase orders for Government securities through the Reserve Bank of India, cheques, delivery instructions to banks and brokers in connection with purchase and sale of securities, transfer endorsement on Government securities standing in the name of the Trust and redemption receipts relating to stock, shares, debentures and all other securities and letters and receipts.
II. Manager
Deputy managers
To sign cheques, delivery instructions to banks and brokers in connection with the purchase and sale of securities, letters and receipts in the current and authorised business of the Trust.
III. Staff officers
To sign letters and issue receipts in the current and authorised business of the Trust emanating from their respective divisions/departments.
Notification : U.T. No. 120/Secy. 52/80-81, dated 17-4-1989.
When an Indian official of that organisation's salary is brought to tax, or when the authority of a Unit Trust officer to sign a transfer deed is questioned.
Source: the Income Tax Department’s own published text — its page for this instrument.