In exercise of the powers conferred by sub-section (3) of section 104 of the Income-tax Act, 1961 (43 of 1961), and in partial modification of the Ministry of Finance (Department of
Circular : No. 26-Income Tax There is an impression that the development rebate allowed in respect of an asset sold to the Government will not be withdrawn even if the vendor credits to the profit & loss account the reserve which he had originally created to qualify for the grant of the rebate. This is wrong as clarified below.
CIRCULAR NO. 25-Income Tax Instances have come to the notice of the Board where Indian nationals, having income in Pakistan were put to considerable hardship in their assessment proceedings in India. After the 1965 hostilities between India and Pakistan, the assessees having income in Pakistan, are finding it almost impossible to repatriate their Pakistan income to India.
Circular No. 24-Income Tax To remove any possible and misunderstanding of the legal position, the Board added the following sentences, at the end of the last para of Board Circular No. 23 of 1969
CBDT Circular No: 23 Date of Issue: 23/7/1969 Section(s) Referred: 9 Statute: Income-Tax Act 1. Non-residents-Income accruing or arising through or from business connection in India-Liability to tax-Section 9 of the Income-tax Act, 1961. Section 9 of the Income-tax Act (corresponding broadly to section 42 of the Indian Income-tax, 1922) provides, inter alia, that income […]
In the notification of the Central Board of Direct Taxes published as S. O. 2005 dated the 24th May, 1969, at pages 695-701 of the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii) dated the 24th May, 1969,—-
In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Tea Board, 14, Brabourne Road, Calcutta—1, for the purposes of the said sub-clause.
Central Government hereby notifies Shri BADRINATH AND KEDARNATH TEMPLES to be places of worship of renown throughout the State of Uttar Pradesh for the purpose of the said section
Circular No.22 – Income Tax The rates of income-tax for the assessment year 1969-70 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. These rates (summarised in Annexure I to this circular) are the same as those specified in Part III of the First Schedule to the Finance Act, 1968, for the purpose of deduction of tax at source
Circular No. 21-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
