Circular : No. 154 -Income Tax Attention is invited to Board’s Circular No. 92, dated l8-9-1972 [Clarification 2], modifying its earlier circulars issued on the above subject.
Circular : No. 153-Income Tax . Reference is invited to Board’s Circular F. No. 44/14/64-ITJ, dated 22-3-1965 [Annex] on the above subject.
Circular: No. 152 -Income Tax I am directed to state that section 195 imposes a statutory obligation on any person responsible for paying to a non-resident any interest (not being “interest on security”) or any other sum (not being dividends) chargeable under the provisions of the Income-tax Act to deduct income-tax at the “rates in force”, unless he is himself liable to pay income-tax thereon as an agent. Payments to a
It is hereby notified for general information that the University of Sagar, Sagar has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of
Circular : No:151-Income Tax It has been represented to the Board that in determining the tax liability of foreign and Indian participants in technical collaboration agreements, different norms and principles are being applied by different Income-tax Officers with the result that there is a great deal of uncertainty in the minds of the foreign parties regarding the incidence of Indian tax on the income derived by
Circular : No. 150 -Income Tax The Income-tax (Third Amendment) Rules. 1974, notified by the Central Board of Direct Taxes on 21-9-1974, have substituted sub-clause (i) of clause (a) of rule 3 of the Income-tax Rules, relating to valuation of the perquisite represented by rent-free residential accommodation in the case of Government employees, etc., by a new sub-clause. The provisions of the new sub-clause
Circular No. 148 – Income Tax The President promulgated the Compulsory Deposit Scheme (Income-tax Payers) Ordinance, 1974 on 17-7-1974 to provide for compulsory deposits by certain categories of income-tax payers in the higher income brackets. This Ordinance has since been replaced, with minor modifications, by the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 (38 of 1974). Under
In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Anjaneya Swami Temple, Gopichettipalayam, Coimbatore Dt., Tamil Nadu, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.
This notification contains Amendment (Fifth Amendment) to Income-tax Rules carried out on November 2, 1974 not reproduced here as it is already contained in the body of the Rules itself
Circular: No. 147 -Income Tax Under the provisions of section 192, any person responsible for paying any income chargeable under the head “Salaries” is required at the time of payment to deduct income-tax from the amount payable. In any case where an employee claims that his salary is not chargeable to income-tax and, therefore, no income-tax should be deducted at source from the salary receivable by him, the employer
