Circular No. 715-Income Tax Clarifications on various provisions relating to tax deduction at source regarding changes introduced through Finance Act, 1995 The Finance Act, 1995, has enlarged the scope of income-tax deduction at source by making various amendments. In regard to the changes introduced through the Finance Act, 1995, a number of queries have been received from the various associations and professional bodies on the scope of tax deduction at source. It would be desirable to clarify the doubts by issuing a public circular in the form of question
Circular No. 140/51/95-CX In this regard it has been represented that football panel kits are unstiched part of inflatable balls and are used exclusively in the manufacture of footballs/ volley balls/ inflatable balls and that there is no other use of the same Accordingly these are classifiable under Chapter 95 as “toys, games and sports requisites”.
