Modification of status of persons engaged in business of prospecting, etc., of mineral oils

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..... necessary and expedient so to do, in the public interest to make modification in regard to the status in which persons, specified in sub-section (2) of section 293A of the Income-tax Act, 1961 (43 of 1961), are to be assessed on their income from the business consisting of the prospecting for or extraction or production of mineral oil. Now, therefore, in exercise of the powers conferred by sub- .....

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..... is assigned to them in Explanation to section 293A of the Income-tax Act. 2. This notification shall be deemed to have come into force with effect from the 1st day of April, 1993, and shall, accordingly, apply for the assessment year 1993-94 and subsequent years. [No. 9997/F. No. 142/34/95-TPL] - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia. .....

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