Circular No. 664-Income tax -
Circular No. 664-Income tax Reference is invited to the Board’s Circular No. 597, dated 27-3-1991, containing instructions regarding the use of Form Nos. 16, 16A and 16B for issuing certificates of tax deducted at source, under the various provisions of the Income-tax Act, 1961. These three forms had replaced the earlier unified Form No...
Circular No. 663-Income tax -
Circular No. 663-Income tax Section 2(m ) of the Wealth-tax Act has been amended with effect from 1-4-1993. Under the amended clause (m) in the computation of the net wealth, the assessee is to be allowed deduction only for the debts owed by him on the valuation date which have been incurred in relation to the assets liable to the wealt...
Circular No. 662-Income tax -
Circular No. 662-Income tax Board’s Instruction No. 133 [F. No. 40/25/69-IT(A-I), dated 10-12-1969 (Annex) provides that the taxable perquisite in the hands of the employee on account of the services of gardeners, night watchmen and sweepers provided by the employer should be calculated on the following ad hoc basis...
Circular No. 661-Income tax -
Circular No. 661-Income tax Reference is invited to the Board’s Circular No. 631, dated 20-8-1992 on the abovementioned subject wherein the rates at which the deduction of tax under sections 194B, 194BB and 194G of the Income-tax Act, 1961 was to be made during the financial year 1992-93 from winnings from lotteries, crossword puzzles, ...
Notification No. 171/93-Customs -
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 107/91-Customs, dated the 25th July, 1991....
Notification No.S.O.693(E) - Income Tax -
Notification No.S.O.693(E) - Income Tax In exercise of the powers conferred by item (ii) in sub-section (1) of section 32 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely...
Notification No.S.O.691(E) - Income Tax -
Notification No.S.O.691(E) - Income Tax 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 the 18 per cent. (Taxable) Secured Redeemable Non-Convertible (IVth Series) Bonds, issued by the Damodar Valley Corporation, Calcutt...
Circular No. 660-Income tax -
Circular No. 660-Income tax Attention is invited to the Board’s Circular No. 634, dated 20-8-1992 regarding collection of income-tax at source under section 206C of the Income-tax Act, in respect of profits and gains from the business of trading in alcoholic liquor, forest produce, etc., during the financial year 1992-93....
In terms of the powers vested with the SEBI under the above Section of the Securities Contracts(Regulations) Act, 1956, you are advised to please send a copy each of the audited Balance Sheet and Profit and Loss account for the financial year 1992-93 and onwards to the SEBI also....
Circular No. 659-Income tax -
Circular No. 659-Income tax Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Federal Republic of Germany for the avoidance of double taxation with respect to taxes on income and capital has been concluded...