CIRCULAR NO. 545-Income Tax 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
Circular No. 544-Income Tax The Board has received representations against the taxation of the subsidy granted by the State Governments to producers of feature films in regional languages
Circular : No. 543-Income Tax Reference is invited to this department’s Circular No. 519, dated 10-8-1988 on the above subject wherein a request was made for issuing necessary instructions to all the Treasury Officers etc., for making deduction of income-tax at source from the payment of interest on Government securities for the financial year 1988-89
Circular : No. 542-Income Tax Under the existing provisions of section 139(1) of the Income-tax Act, as amended by the Direct Tax Laws (Amendment) Act, 1987, with effect from 1-4-1989, a partnership firm, whose accounts are required to be audited under the Income-tax Act, or under any other law, can file its return by 31st October of the relevant assessment year. However, this time limit is not available to the
Circular No. 541-Income Tax The Board has received representations against the taxation of the subsidy granted by the State Governments to producers of feature films in regional languages
Circular: No. 540-Income Tax Reference is invited to this Department’s Circular No. 514, dated 31-5-1988 wherein the rates at which the deduction of income-tax was to be made during the financial year 1988-89 from payment of income by way of insurance commission under section 194D of the Income-tax Act, 1961 were intimated to you. There is no change in the rates of tax for the financial year 1989-90. For the
Circular : No. 538-Income Tax Section 54 of the Income-tax Act provides for exemption in respect of capital gain arising from the transfer of a long-term capital asset, being a residential house, the income of which is chargeable under the head ‘Income from house property’ if the conditions laid down in the said provision are fulfilled
Circular : No. 539-Income Tax
Circular : No. 537-Income tax . Reference is invited to this Ministry’s Circular No. 517, dated 16-6-1988 and Circular No. 527, dated 9-12-1988 wherein the rates of income-tax deduction during the year 1988-89 from payment of income chargeable under the head “Salaries” under section 192 of the Income-tax Act,1961, etc., were intimated
Circular : No.536-Income Tax Reference is invited to this department’s Circular No. 536, dated 6-7-1989 on the above subject wherein the rates at which deduction of tax under sections 194B and 194BB to be made during the financial year 1989-90, from winnings from lotteries or crossword puzzles or horse races were communicated
