Circular No.370 – Income Tax It has come to the notice of the Board that in certain cases where payments are made to non-residents and the tax payable by the non-resident is borne by the person making the payment, the provisions of section 195 are not being followed. As a result such persons become liable to pay interest and penalty under section 201(1A) and section 221, respectively and also punishment under section 276B.
Circular No. 369 – Income Tax The following instructions had earlier been issued by the Board regarding the taxation of dividends received from the United Kingdom
Circular No. 367 – Income Tax Section 264(4)(c ) provides that the Commissioner shall not revise any order under that section where the order has been made the subject of an appeal to the Commissioner (Appeals) or to the Appellate Tribunal. A doubt has been raised whether in the following situations the order can be said to have been made “subject of an appeal
Circular No. 365 – Income Tax I am directed to invite a reference to the Board’s Circular No. 338 [F. No. 275/17/82-IT(B)], dated 4-5-1982, wherein you were requested to issue necessary instructions for making deduction of income-tax at source from the “winnings from lottery or crossword puzzle” at the rates given in Part II of the First Schedule to the Finance Bill, 1982
Circular No. 366 – Income Tax I am directed to invite a reference to Board’s Circular No. 339 [F. No. 275/18/82-IT(B)], dated 6-5-1982, on the above subject, wherein the rates at which deduction of tax under section 194BB to be made during the financial year 1982-83 from winnings from horse races were communicated
Circular No: 364-Income Tax In pursuance of clause (v) of rule 1 of the Second Schedule to the Companies (Profits) Surtax Act, 1964 (7 of 1964), the Central Government has notified the following financial institutions for the purposes of the said clause
Circular No. 363 – Income Tax I am directed to say that the Board has considered the question whether interest on house building advance taken by the Central Government servants under the House Building Advance Rules of the Ministry of Works & Housing can be allowed as deduction when the interest becomes due or when it is actually paid
Circular No. 362 – Income Tax I am directed to invite a reference to this Ministry’s Circular No. 342 [F.No. 275/16/82-IT(B)], dated 19-5-1982 and corrigendum of even number dated 14-9-1982 wherein the rates of income-tax deduction during the financial year 1982-83 from the payments of income-tax chargeable under the head “Salaries” under section 192 were intimated
Circular No. 361 – Income Tax I am directed to invite a reference to this Department’s Circular No. 340 [F. No. 275/20/82-IT(B)], dated 6-5-1982 wherein the rates at which the deduction of income-tax was to be made during the financial year 1982-83 from payments of income by way of insurance commission under
Circular No. 357 – Income Tax Attention is invited to the Board’s Circular No. 326, dated 6-2-1982 issued from File No. 319/15/80-WT [printed here as Clarification 3] on the above subject. In view of various practical difficulties in implementing this circular the Board makes the following broad guidelines for the valuation of lands comprised in coffee plantations in order to have some uniform procedure for speedy completion of the pending assessments as far as Karnataka charges are concerned
