That the said Institution will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, and the concerned Commissioner of Income-tax.
Circular : No. 503-Income Tax Attention is invited to the Board’s Order under section 119(2)(b) [F. No. 225/201/87-IT(A-II)], dated 5-2-1988 whereby the Board, in exercise of the powers conferred by clause (b) of sub-section (2) of section 119, have raised the monetary limit of cases in which the ITO is authorised to admit belated refund claims under section 237.
Notification No. S.O.1100-Income Tax In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 13% Secured Redeemable Bonds (Series 1) ” issued by the Nuclear Power Corporation of India Ltd., Bombay, for the purpose of the said clause
Notification No. S.O.1319-Income Tax In exercise of the powers conferred by clause (ix) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Indira Gandhi National Centre for Arts ” for the purpose of the said clause for the assessment years 1987-88 to 1990-91.
Notification No. S.O.1855-Income Tax In partial modification of this Office Notification No. 6678 (F. No. 203/217/85-ITA. II), dated 18-4-1986 This Notification Contains Amendment of Income-tax Act, 1961 carried out on 1st February, 1988 not reproduced here as it is already contained in the body of the Act itself
Circular : No. 502-Income Tax References have been received from certain quarters about the applicability of the provisions of section 194C to the payments made in respect of the works executed under the National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP).
Notification No. S.O.126(E)-Income Tax In exercise of the powers conferred by sub-section (1) and (2) of section 269UB of 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
This notification contains Amendment to Income-tax (Amendment) Rules, 1988 carried out on 21st January, 1988 not reproduced here as it is already contained in the body of the Rules itself.
Circular : No. 501-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 489 [F.No. 275/51/87-IT(B)], dated 25-6-1987, wherein the rates of income-tax deduction during the year 1987-88 from the payment of income chargeable under the head “Salaries” under section 192 were intimated.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the 3 year HUDCO Capital Gains Debentures issued by the Housing and Urban Development Corporation Ltd., New Delhi, for the purpose of the said clause.
