In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies National Society for Clean Cities–India for the purpose of the said clause for the assessment years 1985-86 to 1987-88.
In exercise of the powers conferred by clause (iib) of proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies specifies the 3-Year IDBI Capital Bonds issued by the Industrial Development Bank of India, Bombay, for the purposes of the said clause.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, and the concerned Commissioner of Income-tax.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
Circular : No. 484 -Income Tax By an amendment brought about by the Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986, Explanation below sub-section (10) of section 80HH, was substituted by sub-section (11) and the Eighth Schedule was omitted. The said Explanationprovided that in this section “backward area” meant an area specified in the list in the Eighth Schedule. The newly
