In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Kodalamanickam Devaswom, Irinjalakuda”, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
This notification contains Amendment to Income-tax (Seventh Amendment) Rules, 1985 carried out on 19th November, 1985 not reproduced here as it is already contained in the body of the 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 section for the period covered by the assessment years 1985-86 to 1987-88.
That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.
That the said College will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 30th April, each year.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
Circular No. 441-Income Tax .Effect of higher income estimates for assessment year 1986-87 in relation to other assessments – It has been brought to the notice of the Board that despite the issue of Circular No. 423, dated 26-6-1985 [Clarification 1] and Circular No. 432 dated 15-11-1985 [Clarification 2] on the above subject, fears continue to be expressed on behalf of some existing taxpayers who may
Circular No. 440-Income Tax Effect of higher income estimates for assessment year 1986-87 in relation to other assessments – It has been brought to the notice of the Board that despite the issue of Circular No. 423, dated 26-6-1985 [Clarification 1] and Circular No. 432 dated 15-11-1985 [Clarification 2] on the above subject, fears continue to be expressed on behalf of some existing taxpayers who may declare for the
