It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, the ” prescribed authority ” for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Circular No. 47-Income Tax A question has arisen whether the provision made by an assessee in its accounts on account of the estimated service gratuity payable to the employees can be allowed as a deduction when no gratuity fund has been set up under Part C of the Fourth Schedule to the Income-tax Act
Circular No. 46-Income Tax Reference is invited to the Board’s Circular No. 4-P(LVIII-22), dated 6-8-1964 [Clarification 2] on the above subject. Several representations have been received by the Board seeking clarification about the meaning of the term “salary” as used in section 10(10).
Circular No. 45-Income Tax The rates of income-tax for the assessment year 1970-71 in the case of all categories of taxpayers (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act, 1970. These rates – summarised in Annexure I to this circular – are the same as those specified in Part III of the First Schedule to
In pursuance of sub-clause (ii) of clause (15) of section 10 of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby specifies the following Certificates for the purposes of that sub-clause, namely :—
The scheme of Post Office (Time Deposits) governed by the Post Office (Time Deposits) Rules, 1970. (b) The sch
pursuance of clause (vi) of sub-section (3) section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following schemes as schemes to which the said clause apply, namely :—
In pursuance of sub-clause (iia) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of th
The articles or component parts thereof, as the case may be, are imported within the warranty period and are supplied free of charge by the foreign manufacturer in terms of the warranty given by the manufacturer in accordance with the established trade practice pertaining to the articles.
It is hereby notified for general information that the institution mentioned below has been approved with effect from 22nd October, 1962, by the Council of Scientific and Industrial Resea
