Circular No. 240

Finance Act, 1978 - Circular No. 240, Dated 17-5-1978

What this is

Circular No. 240 was issued by the Central Board of Direct Taxes on 17 May 1978. Its subject is Finance Act, 1978 - Circular No. 240, Dated 17-5-1978.

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 ACT, 1978 - CIRCULAR NO. 240, DATED 17-5-1978

Amendments at a glance

Rate structure

Amendments to Income-tax Act

Amendments to Interest-tax Act

Amendments to Compulsory Deposit Scheme (Income-tax Payers) Act

← Circular No. 241 · Circular No. 239 →

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.