INCOME TAX

INSTRUCTION NO. 1904/1992

 Dated: December 7, 1992

Section(s) Referred: 133(6)

Statute: Income - Tax Act, 1961

The matter regarding enquiries into investments in units of the U.T.I. had earlier been examined in the Board and directions were issued to all the CsIT in CBDT letter F.NO.415/3/84-IT(Inv) dated 26-5-86 that information may be obtained only in respect of Unit-holders whose investments exceed Rs.1 lakh. Representations have been made to the Board that Income Tax Authorities have been requisitioning the list of investors who have invested Rs.20000 and above in the Masterplus and Mastergain, 1992 schemes from some branches of the U.T.I. The matter has been examined. It has been decided that while there is no objection to specific information of even smaller amounts being called in specific cases where it is considered to be requisitioned from the U.T.I. in regard to these and other scheme except for investment of Rs.1 lakh and above.

2. These instructions may be brought to the notice of all the officers working under you.