Circular No. 441-Income Tax .Effect of higher income estimates for assessment year 1986-87 in relation to other assessments – It has been brought to the notice of the Board that despite the issue of Circular No. 423, dated 26-6-1985 [Clarification 1] and Circular No. 432 dated 15-11-1985 [Clarification 2] on the above subject, fears continue to be expressed on behalf of some existing taxpayers who may
Circular No. 440-Income Tax Effect of higher income estimates for assessment year 1986-87 in relation to other assessments – It has been brought to the notice of the Board that despite the issue of Circular No. 423, dated 26-6-1985 [Clarification 1] and Circular No. 432 dated 15-11-1985 [Clarification 2] on the above subject, fears continue to be expressed on behalf of some existing taxpayers who may declare for the
Circular No. 439-Income Tax Effect of higher returns for the assessment year 1986-87 in respect of wealth-tax assessments – The Finance Act, 1985 has rationalised the rates of personal income-tax and corporate tax and has also liberalised the provisions of the Wealth-tax Act considerably. Taxpayers liable to wealth-tax should avail of this opportunity to come forward and file returns of wealth showing their true net wealth
