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Archive: 31 August 1989

Posts in 31 August 1989

Notification No. S.O.686(E)-Income Tax, Dated: 31.08.1989

August 31, 1989 295 Views 0 comment Print

In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “7-year 13Percentage (taxable) Secured Redeemable Non-convertible IPCL Bonds”, issued by the Indian Petrochemical Corporation Limited, for the purpose of the said clause.

Notification No. S.O.687(E)-Income Tax, Dated: 31.08.1989

August 31, 1989 322 Views 0 comment Print

Provided that the benefit under the said clause shall be admissible in the case of transfer of such bonds, by endorsement or delivery, only if the transferee informs the said Corporation by registered post within a period of sixty days of such transfer.

Notification No. S.O.690(E) – Income Tax Dated 31/8/1989

August 31, 1989 361 Views 0 comment Print

Notification No.S.O.690(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 269UB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. S. O. 684(E), dated 24th September

Notification No. S.O.689(E) – Income Tax Dated 31/8/1989

August 31, 1989 462 Views 0 comment Print

Notification No.S.O.689(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 269UB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. S. O. 392(E), dated 31st May, 1989

Circular No. 543-Income Tax dated 31-8-1989

August 31, 1989 504 Views 0 comment Print

Circular : No. 543-Income Tax Reference is invited to this department’s Circular No. 519, dated 10-8-1988 on the above subject wherein a request was made for issuing necessary instructions to all the Treasury Officers etc., for making deduction of income-tax at source from the payment of interest on Government securities for the financial year 1988-89

Distinction between shares held as stock-in-trade & as investment

August 31, 1989 19552 Views 0 comment Print

The question whether a particular assessee is a trader in shares or the shares are held as capital assets sometimes gives rise to disputes and litigation. Over the years the courts have laid down the various tests or factors to be taken into account in determining this question.

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