In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts platinum falling under heading No. 71.10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) when imported i...

Circular No. 653-Income Tax Section 80U as it existed till the assessment year 1989-90 and earlier years provided for a deduction in the case of a resident individual assessees suffering from a permanent physical disability (including total blindness)....

Circular No. 652-Income tax Under sub-item 2(ii ) of Item-III of Appendix I to the Income-tax Rules, 1962, higher rate of depreciation is admissible on motor buses, motor lorries and motor taxis used in a business of running them on hire....

Circular No. 651-Income tax A Central Act called "The Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (No. 32 of 1993)" has been enacted with effect from 23-9-1992, which provides for payment of certain amount of mandatory interest to the buyers of goods and services from small scale...

You may be aware that the Department of Company Affairs have recently issued revised annual cost audit orders for the financial year ending 31.3.1994 and continuously thereafter to all those companies which were previously subjected to cost audit for every alternate financial years. A list containing the names of these companies is being ...

It has been brought to the notice of this Department that many of the companies for which maintenance of books of accounts have been made mandatory under Section 209(1)(d) of the Companies Act, 1956 and Cost Accounting Records Rules prescribed, have failed to keep such books of accounts in the manner indicated thereunder...