Circular No. 72

Finance (No. 2) Act, 1971 - Circular No. 72, Dated 6-1-1972

What this is

Circular No. 72 was issued by the Central Board of Direct Taxes on 6 January 1972. Its subject is Finance (No. 2) Act, 1971 - Circular No. 72, Dated 6-1-1972.

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

FINANCE (NO. 2) ACT, 1971 - CIRCULAR NO. 72, DATED 6-1-1972

Amendments at a glance

Rate structure

Amendments to Income-tax Act

Amendments to Wealth-tax Act

Amendments to Gift-tax Act

Amendments to Companies (Profits) Surtax Act

Miscellaneous provisions

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A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.

Source: the Income Tax Department’s own published text — its page for this instrument.