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SECURITIES AND EXCHANGE BOARD OF INDIA (PORTFOLIO MANAGERS) REGULATIONS, 1993
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Portfolio Manager Regulations create regulatory framework for registration and oversight of portfolio managers under SEBI Act.
Securities and Exchange Board of India issued the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993 by notification dated 7 January 1993 under the authority of section 30 of the Securities and Exchange Board of India Act, 1992, constituting the statutory measure by which SEBI prescribes rules for the registration and regulatory oversight of portfolio managers.
SECURITIES AND EXCHANGE BOARD OF INDIA (PORTFOLIO MANAGERS) RULES, 1993.
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Portfolio manager registration requirement: certificate mandated, with conditions for grant, renewal, exceptions and client grievance duties.
No person may act as a portfolio manager without a certificate of registration from the Board, with a transitional provision for existing practitioners who have applied. The Board may grant or renew certificates subject to conditions including prior permission for status changes, payment of prescribed fees, timely redressal and reporting of client grievances, and adherence to rules and regulations; exemptions for certain merchant bankers are limited and conditional.
Central Government specifies MTNL 7-years 17 percent. (Taxable) Secured Redeemable Non-Convertible Telephone Bonds, 1992 (6th Series), issued by the Mahanagar Telephone Nigam Limited, New Delhi u/s 80L(1)(ii)
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Tax benefit specification for MTNL telephone bonds requires transferee to notify issuer by registered post within sixty days.
Central Government specifies MTNL 7 years 17 percent (Taxable) Secured Redeemable Non Convertible Telephone Bonds, 1992 (6th Series) issued by Mahanagar Telephone Nigam Limited as eligible for the tax benefit under clause (ii) of sub section (1) of section 80L; transfer-related benefit is conditional on the transferee informing the issuer by registered post within sixty days of transfer, and the notification applies to assessment year 1992-93 and subsequent years.
Village Manjusar of Gujarat State declared warehousing station
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Declaration of warehousing station designates Village Manjusar for customs warehousing and regulatory classification.
Designation under the Customs Act declares Village Manjusar in Taluka Savli, Baroda District, Gujarat, as a warehousing station, invoking customs regulatory powers to classify the locality as eligible to function as a customs warehousing facility under the applicable customs regime.
Notifies Hazrat Pir Mohammed Shah Dargah Sharif Trust, Ahmedabad u/s 10(23C)(v)
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Charitable trust recognition permits conditional tax exemption subject to exclusive application of income and restrictions on investments.
Notification recognizes Hazrat Pir Mohammed Shah Dargah Sharif Trust as eligible for the specified exemption category for the designated assessment years, subject to conditions: the trust must apply or accumulate its income exclusively to its objects; restrict investments and deposits except in authorised modes and for voluntary contributions retained as jewellery or furniture; and the exemption excludes business income unless the business is incidental to the trust's objectives and separate books of account are maintained.
Notifies Raja Charity Trust, Rajapalayam u/s 10(23C)(v)
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Tax exemption under section 10(23C)(v) notified for Raja Charity Trust, covering specified assessment years.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, the Central Government notifies Raja Charity Trust, Rajapalayam as qualifying under that sub-clause for the specified assessment years, with the notification and file reference recorded in the instrument.

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Acts Income Tax