Circular: No. 488 -Income Tax I am directed to invite a reference to this Department’s Circular No. 462 [F.No. 275/67/86-IT(B)], dated 10-7-1986 wherein the rates at which the deduction of income-tax was to be made during the financial year 1986-87 from payment of income by way of insurance commission under section 194D were intimated. There is no change in the rate of tax for the financial year 1987-88. For
