Circular No.464 – Income Tax In para 98 of the Budget speech for the year 1986-87, the Finance Minister had announced a proposal to provide relief to self-employed persons and salary earners other than those whose medical needs were taken care of by the employers in respect of medical expenses incurred by them by allowing a deduction out of their total income, subject to limits, for any premium on medical
Notification No. S.O.3177-Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Uttar Pradesh Vigilance Commission, U.P., Lucknow, or any officer specifically authorised by the Commission in this behalf for the purpose of the said sub-clause.
Circular No. 465-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 388 [F.No. 275/13/84-IT(B)], dated 16-7-1984 and Circular No. 407 [F.No. 275/13/84-IT(B)], dated 1-2-1985 wherein the rates of income-tax deduction during the financial year 1984-85 from the payment of income-tax chargeable under the head “Salaries” under section 192 were intimated.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “REC-13th Series Bonds” issued by the Rural Electrification Corporation Limited, New Delhi, for the purposes of the said clause.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “14% Secured Redeemable N. T. P. C. Bonds—1986, First Series” issued by the National Thermal Power Corporation Ltd., New Delhi, for the purposes of the said clause.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “14%—Secured Non-convertible Bonds” issued by the Neyveli Lignite Corporation Limited, Neyveli, Tamil Nadu, for the purposes of the said clause.
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 submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “14% Secured Redeemable Non-convertible Bonds—-1986, ‘A’ Series” issued by the Indian Telephone Industries Limited, Bangalore, for the purposes of the said clause.
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.
