For the purpose of this notification, “Cochin Export Processing Zone” means the Cochin Export Processing Zone at Cochin comprising of the places bearing the survey numbers, location, area and enclosed by the boundaries specified below.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sri Somanath Trust” for the purpose of the said clause for the assessment years 1985-86 to 1987-88.
Circular : No. 467-Income Tax I am directed to invite a reference to this Department’s Circular No. 428 [F. No. 275/30/85-IT(B)], dated 8-8-1985 and Circular No. 425 [F. No. 275/31/85-IT(B)], dated 24-7-1985 on the above subject, wherein the rates at which deductions of tax under sections 194B and 194BB to be made during the financial year 1985-86 from winnings from lottery or crossword puzzles or horse races were communicated.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Society for Promotion of Waste-lands Development” for the purpose of the said clause for the assessment years 1987-88 to 1989-90.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Lal Bahadur Shastri National Memorial Trust” for the purpose of the said clause for the assessment years 1985-86 to 1987-88.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “The Indian Gypsy Works Fellowship Trust” for the purpose of the said clause for the assessment years 1985-86 and 1986-87.
That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
Circular : No. 466-Income Tax Section 80HHC as substituted by the Finance Act, 1985, provides that where an assessee, being an Indian company or a person (other than a company) resident in India exports out of India during the previous year, any goods or merchandise to which this section applies, he will be allowed a deduction of an amount not exceeding 50 per cent of the profits derived from the export of such goods or merchandise.
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sri Suryanarayana Devasthana, Maroli, Mangalore” to be a place of public worship of renown throughout the State of Karnataka.
