688/CBDT. - Income Tax - 688/CBDT

INSTRUCTION NO. 688/CBDT Dated : April 26, 1974 Section(s) Referred: 34AB Statute: Wealth Tax Act, 1957 Applicants for registration as valuer u/s 34AB of the W.T.Act have to state against Column 15 of the prescribed application form whether any liability towards Income-tax, Wealth-tax or Gift-tax is outstand and if so, whether satisfactory arrangements for payment thereof have been made. A certificate from the Income-tax Officer is to be attached to the effect that either there is no liability or if there is any liability satisfactory arrangements for payment thereof have been made. No form has been prescribed for this certificate. It has been brought to the notice of the Board that some Income-tax Officers are insisting of filling up of the applications form proscribed for Income-tax clearance certificates/Income-tax verification certificates. This is not correct. The Income-tax Officers may be instructed not to insist on filling up of any forms for this purpose. They may issue the certificate on a plain sheet paper duly signed and stamped on a written request from the applicants.