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Circular: No. 504-Income Tax I am directed to say that under the provisions of section 192, tax was to be deducted at source by any person responsible for paying any income chargeable under the head “Salaries”. The rates of income-tax deduction during the year 1987-88 and the relevant rules applicable have already been circulated under Circular No. 489
That the said Institution 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 Institution will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their 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.
