Circular No. 516-Income Tax 1. A new scheme relating to assessment of partnership firms has been introduced by the Direct Tax Laws (Amendment) Act, 1987 [hereinafter referred to as the DTL(A) Act, 1987] to be effective from 1-4-1989, i.e., from the assessment year 1989-90. 2. After the DTL(A) Act, 1987 was enacted, a number of representations from various quarters were received regarding the new scheme of taxation. On 30-3-1988,
This notification contains Amendment to Income-tax Rules carried out on 14-6-1988 not reproduced here as it is already contained in the body of the Income-tax Rules itself.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” India International Centre, New Delhi “, for the purpose of the said sub-clause for the assessment year 1988-89.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Satya Sai Central Trust, Brindavan, Bangalore, for the purpose of the said sub-clause for the assessment year 1988-89
This notification contains Amendment to Income-tax Rules carried out on 9-6-1988 not reproduced here as it is already contained in the body of the Income-tax Rules itself.
This notification contains Amendment to Income-tax Rules carried out on 9-6-1988 not reproduced here as it is already contained in the body of the Income-tax Rules itself.
In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement whether on superannuation or otherwise, hereby specifies the amount mentioned in column (2) of the Table below as the limit in relation to employees mentioned in that sub-clause who retire, whether on superannuation or otherwise, within the period mentioned in the corresponding entry in column (3) of the said Table.
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Arulmigu Sri Varasidhi Vinayagar Koil, Nungambakkam, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section on the condition that the temple will maintain separate books of account for this purpose and that the donations received will be utilised exclusively for the renovation of the temple.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Gram Vikas Trust, Ahmedabad , for the purpose of the said sub-clause for the assessment years 1984-85 to 1988-89
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Swaminarayan Aksharpith, Shahibaug, Ahmedabad, for the purpose of the said sub-clause for the assessment years 1987-88 and 1988-89.
