"June, 1975" Archive

Circular No. 170-Income Tax dated 30-6-1975

Circular No. 170-Income Tax (30/06/1975)

Circular : No. 170-Income Tax Reference is invited to Notification No. SO 2167, dated 28-5-1971 [printed above], of the Government of India, Ministry of Finance (Department of Revenue & Insurance), under which the deduction in respect of development rebate under section 33 was not to be allowed in respect of a ship acquired or machinery o...

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Circular No. 169-Income Tax dated 23-6-1975

Circular No. 169-Income Tax (23/06/1975)

Circular : No. 169-Income Tax In the Board’s Circular No. 47, dated 21-9-1970 [Clarification 2]. It was stated that provisions made by an assessee in his accounts on a scientific basis in respect of estimated service gratuity payable to employees would be admissible as deduction under section 37(1). The matter was re-examined by the Boa...

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Notification: S.O.2529 Date of Issue: 17/6/1975

Notification: S.O.2529 (17/06/1975)

Notification: S.O.2529 It is hereby notified for the general information that the institution mentioned below has been approved by the Department of Science & Technology, the prescribed authority for the purpos...

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Circular No. 167-Income Tax dated 9-6-1975

Circular No. 167-Income Tax (09/06/1975)

Circular : No. 167-Income Tax Section 194D provides for deduction of income-tax at source, at such rates as may be prescribed by Finance Act of the relevant year, from payments of income by way of insurance commission, to a resident, whether an individual, a company or any other category of person....

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Circular No. 168-Income Tax dated 9-6-1975

Circular No. 168-Income Tax (09/06/1975)

Circular: No. 168-Income Tax Under section 194A any person not being an individual or a Hindu undivided family, paying to a resident, any income by way of interest (other than interest on securities) is required, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a che...

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Circular No. 166-Income Tax dated 9-6-1975

Circular No. 166-Income Tax (09/06/1975)

Circular : No. 166-Income Tax Attention is invited to para 2(7) of this Ministry’s Circular No. 161, dated 22-3-1975 [Clarification 1] relating to tax relief in regard to expenditure incurred on higher education of dependent children. The Finance Act, 1975 (as finally enacted) has extended the scope of this benefit....

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Circular No. 165-Income Tax dated 9-6-1975

Circular No. 165-Income Tax (09/06/1975)

Circular : No. 165-Income Tax Under section 194B every person responsible for paying to any person, whether resident or non-resident, any income by way of winnings from any lottery or crossword puzzle, in an amount exceeding Rs. 1,000 is required to deduct income-tax thereon at the rates prescribed in this behalf in the Finance Act of th...

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Circular No. 164-Income Tax dated 4-6-1975

Circular No. 164-Income Tax (04/06/1975)

Circular : No. 164-Income Tax Section 18 provides that if a person making a taxable gift pays into the treasury, within fifteen days of his making the gift, the amount of tax due on the gift, he shall at the time of assessment under section 15, be given credit, in addition to the amount so paid, for an amount equal to ten per cent of the ...

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Notification: S.O.2528 Date of Issue: 4/6/1975

Notification: S.O.2528 (04/06/1975)

Notification: S.O.2528 It is hereby notified for the general information that the institution mentioned below has been approved by the Department of Science & Technology, the prescribed authority for the purposes o...

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