Circular No. 339-Income Tax I am directed to invite a reference to Board’s Circular No. 301 [F. No. 275/11/81-IT(B)], dated 29-4-1981, on the above subject, wherein the rates at which deduction of tax under section 194BB to be made during the financial year 1981-82 from winnings from horse races were communicated.
Circular No. 340-Income Tax I am directed to invite a reference to the Board’s Circular No. 300 [F. No. 275/5/81-IT(B)], dated 27-4-1981 wherein the rates at which the deduction of income-tax was to be made during the financial year 1981-82 from payments of income by way of insurance commission under section 194D were intimated.
Circular No. 337-Income Tax Under the Maharashtra State Government Employees’ Group Insurance Scheme, 1982 which is to be introduced with effect from May 1, 1982 under the authority of the Government of Maharashtra, a compulsory insurance scheme would be started in which all existing and future officers of the State Govermnent are required to contribute a certain amount monthly for a life cover.
Circular No. 338-Income Tax I am directed to invite a reference to the Board’s Circular No. 303 [F. No. 275/6/81-IT(B)], dated 12-5-1981, wherein you were requested to issue necessary instructions for making deduction of income-tax at source from “winnings from lottery or crossword puzzle” at the rates given in Part II of the First Schedule to the Finance Bill, 1981.
Circular : No. 335-Income Tax Section 11(1)(a ) provides for grant of exemption from income-tax to income derived from property held under trust for charitable or religious purposes to the extent the income is applied for such purposes in India.
Circular No. 336-Income Tax Circular No. 33, dated 1-8-1955, stated, inter alia, that the following amenities are not to be included in the total income of an employee, as a part of the perquisites provided by the employer
Circular No. 334-Income Tax Doubts have been raised as to the quantum of interest chargeable under section 220(2) when the original assessment order passed by the Income-tax Officer is
Circular No. 333-Income Tax It has come to the notice of the Board that sometimes effect to the provisions of double taxation avoidance agreement is not given by the Assessing Officers when they find that the provisions of the agreement are not in conformity with the provisions of the Income-tax Act, 1961.
Circular : No. 332A-Income Tax Reference is invited to : ( i) the Board’s Circular No. 2 (WT) of 1967, dated 31-10-1967 [Clarification 3] for valuation of unquoted equity shares (a) of investment companies other than those which are substantially holding companies; and (b) of investment companies which are substantially holding companies; and (ii) the Board’s Circular No. 118
Circular No. 331-Income Tax Section 89(1) authorises grant of relief in a case where an employee receives salary in arrears or in advance or has received in any financial year salary for more than twelve months, a payment which under the provisions of section 17(3)(ii) is a profit in lieu of salary.
