"May, 1990" Archive

Circular No. 562-Income Tax dated 23-5-1990

Circular No. 562-Income Tax (23/05/1990)

Circular : No. 562-Income Tax Section 80HHC of the Income-tax Act provides for a deduction in the computation of taxable income with reference to the export turnover of certain goods or merchandise out of India in cases where the sale proceeds are receivable in convertible foreign exchange....

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Circular No. 563-Income Tax dated 23-5-1990

Circular No. 563-Income Tax (23/05/1990)

Circular : No. 563-Income Tax...

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Circular No. 561-Income Tax dated 22-5-1990

Circular No. 561-Income Tax (22/05/1990)

Circular : No. 561-Income Tax The Board have received representations regarding difficulties faced in complying with the provisions of section 44AB of the Income-tax Act in case of companies which follow an accounting period other than financial year....

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Circular No. 560-Income Tax dated 18-5-1990

Circular No. 560-Income Tax (18/05/1990)

Circular : No. 560-Income Tax Section 2(47 ) of the Income-tax Act provides that any conversion of capital assets into stock-in-trade, shall be regarded as a transfer. This transfer arises in the year in which such conversion takes place and, accordingly, capital gain would normally arise in that very year. ...

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Circular No. 559-Income Tax dated 4/5/1990

Circular No. 559-Income Tax (04/05/1990)

Circular No.559 - Income Tax Foreign companies, which provide technical assistance in accordance with agreements entered into with the Government of India, are taxable in India in respect of fees for technical services received by them. The tax leviable is 30% of the gross fees for technical services received by them. Accordingly, foreig...

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