Circular No. 600-Income tax The Board has received representations regarding problems faced by tea exporters in calculating the claim of deduction under section 80HHC of the Income-tax Act.
Circular No. 599-Income tax Clarifications on the following issues have been sought by banks from the Central Board of Direct Taxes Whether the securities held by the banks constitute their stock-in-trade or investment, and consequently whether the loss claimed by the banks on the valuation of their securities should be allowed as a deduction in computing their taxable profits ?
Notification No.S.O.254(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (13 of 1961), the Central Government hereby specifies the ” 10-year 9 per cent. (tax-free) HUDCO Scavenger Liberation Bonds (Serious-I) ” issued by the Housing and Urban Development Corporation for the purpose of the said item
Circular No.598 – Income Tax Under the Finance (Second Amendment) Ordinance, 1990 promulgated on 15-10-1990 the rate of surcharge on income-tax in the case of domestic companies having taxable income exceeding Rs. 75,000 was increased from 8 per cent to 15 per cent. The Taxation Laws (Amendment) Bill, 1990 was introduced in the Lok Sabha on 27-12-1990, to replace the aforesaid Ordinance and also to provide for certain other matters. It was passed by both the Houses of Parliament during the Winter Session and received the
Circular No. 597-Income tax Under the provisions of section 203 of the Income-tax Act, every person deducting tax in accordance with the provisions of sections 192 to 194, 194A, 194B, 194BB, 194C, 194D, 194E, 195 and 196A is required to furnish a certificate to the effect that tax has been deducted and to specify therein, inter alia the amount deducted
Notification No.S.O.1129 – Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies all the officers of and above the rank of Director (Vigilance) of the State Vigilance Organisation, Government of Orissa, for the purpose of the said sub-clause
Circular No. 596-Income tax Clause (d ) of sub-section (1) of section 13 of the Income-tax Act was substituted by the Finance Act, 1983, with effect from 1-4-1983. The provisions of the new sub-clause were to be applicable from the assessment year 1983-84 onwards. This was also clarified in paragraph 18.7 of Board’s Circular No. 372, dated 8-12-1983. However, under sub-clause (ii) of the said section, religious/ charitable trusts and institutions, having investments otherwise than in one
Notification No.S.O.182(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 amendments 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, namely
Notification No.S.O.181(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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S. O. 684(E), dated 24th September, 1986, namely
Notification No.S.O.180(E) – Income Tax The entire district of Gurgaon in Haryana State comprising the tehsils of Gurgaon, Pataudi, Nuh and Ferozpur Jhirka and including the entire area comprised in Gurgaon Municipal Committee within the meaning of the Punjab Government Gazette Part I No. 1405-14-61/5076 dated March 4, 1966
