TUESDAY, JULY 26, 2016 (PAGE 4) DAILY EXCELSIOR, JAMMU

NEW DELHI, July 25:

Central Board of DirectTaxes (CBDT) today came outwith draft rules for determiningthe quantum of distributedincome arising out of buy backof shares of unlisted companiesfor levy of tax.

The distributed income wasdefined as the consideration paidby the company on buy back ofshares as reduced by the amountwhich was received by the com-pany for issue of such shares, thedraft said.

“The Finance Act, 2016amended the definition of distrib-uted income, with effect fromJune 1 to mean the considerationpaid by the company on buy backof shares as reduced by theamount, which was received bythe company for issue of suchshares, determined in the manner

as may be prescribed,” it said.The present amendment that

will take effect from June 1,seeks to remove the limitationscreated by the restrictive mean-ing of buy back under the exist-ing provisions.

The amendment also providesthe much needed clarity in themanner of determination of con-sideration received by the compa-ny by promising to frame rules insuch determination, experts said.

This amendment to themeaning of buy back as well ascomputation of distributedincome would lead to avoidabledisputes, they said.

According to experts, thedraft rules once enforced willhelp in checking tax avoidanceby all unlisted domestic compa-nies who resort to buy back ofshares instead of payment ofdividend. (PTI)

IRCTC offers Rs 10 lakh insurance cover for passengers

NEW DELHI, July 25:

Starting September, passen-gers booking tickets through theIRCTC website can avail of atravel accident cover for a pre-mium as low as Re 1 for aninsurance cover of Rs 10 lakh.

The insurance cover isbesides the compensation givenby the Railways in case of acci-dents to valid ticket holders. Theinsurance would provide cover-age against death, injury and dis-abilities caused due to accidents,IRCTC Chairman-cum-Managing Director AKManocha said.

"At the moment, the insur-ance offer is under integrationprocess and we expect it will beoperationalised fromSeptember," he said.

He said compensation wouldbe also provided by the insur-ance company in case of hospi-talisation due to train accidents.

"We have selected threeinsurers - Shriram General,Royal Sundaram and ICICILombard - which will providethe cover. A total of 19 insurancecompanies were short-listed forthe contract," Manocha said.

These three were selectedthrough the bidding process, hesaid.

However, it is the passen-gers' choice to opt for the insur-ance as it is a voluntary offer, heclarified.

About 5 lakh tickets are atpresent booked online throughIndian Railway Catering andTourism Corporation (IRCTC).(PTI)

Sd/-Deputy Commissioner/CEO

DIP/K-4813 LAHDC, KargilDated : 25-07-2016 (Chairman Distt. Purchase Committee)

OFFICE OF THE SECRETARYJAMMU TAWI GOLF COURSE

"Quotation"For and on behalf of Secretary Jammu Tawi Golf Course Sidhra quotations from authorizeddealers/firms/suppliers for the work detailed here under. The quotation to be submitted through registeredpost/by hand should reach to office of the undersigned upto 2:00 pm on 10/08/2016. The sealed quota-tions will be opened on the same day or any other convenient day in presence of the authorizeddealer/firm/suppliers who may wish to present. For further detail can be had from the office of the under-signed during office hours on any working day.S.No. Particulars Qty.

Supply of Chemical/Fertilizers at Jammu Tawi Golf Course Sidhra.1. Ammonium sulphate 5000 kgs2. Green King or equivalent (20-03-20)

SRTC (slow release triple coated pills) 2000 kgs3. Iron Sulphate 2000 kgs4. Technova 2 (multi nutrient) 50.00 kgs5. Neem Cake 3000 kgs

Terms and Conditions 1. The quantity in supply order may increase/decrease.2. Taxes will be deducted from the gross amount of the bill as per standing Government Order.3. The rates are F.O.R at Jammu Tawi Golf Course Sidhra.4. Any item found substandard or not as per the approved specification/ quality is to be replaced by the sup-

plier at his own cost, risk and responsibility within a stipulated period of time as may be communicated.5. Supplier has to complete the supply within (20) twenty days from the date of issue of the supply order.6. The manufacturing date of the Chemicals/Fertilizers should be of current year.7. The Supplier has to furnish the test certificate at the time of supply of chemical/fertilizer.8. Time is to essence of the contract. In case of supplier's failure to complete the supply within the stipulat-

ed time frame, penalty upto 10% of supplies shall be imposed upon the supplier and the discretion of theSecretary, Jammu Tawi Golf Course Sidhra.

9. The undersigned reserve the right to cancel the supply order in full or any part without assigning any rea-son thereof.

10. In case of any dispute arises at any stage between the department and supplier the same shall be referredto the Secretary, Jammu Tawi Golf Course Sidhra whose decision shall be final, conclusive and boundingon parties.

11. Subject to the Jammu Jurisdiction only.12. The payment shall be made subject to availability of funds.DIP/J-793-P Sd/-Dt: 25-07-2016 Secretary

Jammu Tawi Golf Course, Sidhra

SD/-SUPERINTENDING ENGINEER,ELECT. PURCHASE CIRCLE-I,

JAMMUDIP/J-3041Dt. 25-07-2016

MISSION DIRECTOR NATIONAL HEALTH MISSION, J&KJAMMU OFFICE: Regional Institute of Health & Family Welfare, Nagrota, Jammu

Fax: 0191-2674114: Telephone 2674244. Pin: 181221KASHMIR OFFICE: J&K Housing Board Complex, Chanapora,

Srinagar. Pin: 190015Fax: 0194-2430359. Telephone: 2431167; e-mail:mdnhmjk@gmail.com

NHM Help Line for Jammu Division 18001800104: Kashmir Division 18001800102

PUBLIC NOTICEThis has been brought to the notice of the undersigned that

various unauthorized content regarding recruitment underNational Health Mission, J&K is available on different websiteswhich is creating chaos and confusion among the public.General public is hereby advised not to be misled by such con-tent and log on to www.jknrhm.com, the official website ofNational Health Mission, J&K, for any information includingadvertisement regarding recruitments, etc. under NHM, J&K.

Sd/-Mission Director

DIP/J-789-P National Health MissionDated: 25-07-2016 Jammu

Sd/-Executive Engineer (T)

Jammu Municipal Corporation.DIP/J-798-PDt:- 25-07-2016

HIGH COURT OF JAMMU AND KASHMIR AT SRINAGAR******

NOTIFICATIONNo: 512 Dt: 21-07-2016

The names of the Advocates practicing in the different courts of the State Jammu &Kashmir have been uploaded on the official website of High Court of Jammu & Kashmir. Allthe Learned Advocates whose names have been uploaded on the above web address arerequested to fill up the forms attached to this communication. This is necessitated in viewof the judgement dated 10-5-2016 of the Hon'ble Supreme Court delivered in the case ofAjayinder Sangwan versus Bar Council of Delhi & Ors. I.A 1/2015 in Transfer Case (Civil)No(s).126/2015, the relevant excerpts of which are as under :-

............. It appears that the Bar Council of India has taken steps to cause an enquiryand to find out fake lawyers out of its members and/or person who are not even membersof the Bar Councils and or members of any Bar Association of the country in accordancewith the provisions of the Advocates Act, 1961 and the Rules framed there under and hassought reply from the concerned State Bar Councils in this regard.

We direct all the State Bar Councils to take necessary steps and to conclude all pro-ceedings by 30.06.2016 and send a reply to the Bar Council of India. Thereafter, the BarCouncil of India, after receiving all the replies from the State Bar Councils, would file a sta-tus report in the matter as to what steps they have taken in this regard before the next dateof hearing.

We, hereby, authorize the Bar Council of India to notify all the State Bar Councils byway of publication in leading Newspapers, that they must take all steps to complete theprocess before 30.06.2016.

All State Bar Councils would cooperate with the Bar Council of India, Let the matters beposted for hearing in the first week of July, 2016.

It is pertinent to mention here that Assistant Secretary, Bar Council of India. New Delhihas also forwarded copy of the letter No. BCI:D:2161: 2016 to this office, the relevant por-tion of which is given below:-

................. The Advocates practicing in your State who have produced their education-al certificates and claim to have passed their matriculation, Graduation or L.L.B from someother States, are to be taken care of cautiously. The verification of their certificates is to bedone very carefully, fairly and cautiously. We have been informed that several thousands ofAdvocates are practicing/have got enrolled by producing fake & forged certificates processfrom some other States. This needs an impartial verification. The involvement of some ofthe staff (or even of some members) of the State Bar Councils cannot be ruled out in help-ing such fake enrolments. This is the reason that Bar Council of India has decided to con-stitute Monitoring Committees headed by Hon’ble Judges of the High Courts of otherstates.

All the concerned Advocates are directed to submit their forms complete in all respectsbefore Principal District & Sessions Judge concerned and Registrar Judicial High CourtWing Srinagar/Jammu respectively within 15 days from the publication of this notification.

Sd/-(M.K. Hanjura)

DIPKNB-1133 Registrar General

CBDT issues draft norms for taxing buy back of unlisted shares