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1988

Circulars of 1988

Every circular the Income Tax Department published in 1988 — 29 of them, newest first. Each one opens on its own page.

NumberDateWhat it deals with
Circular No. 52816 December 1988Finance Act, 1988 - Circular No. 528, Dated 16-12-1988
Circular No. 5279 December 1988509. Notified plans of LIC
Circular No. 5265 December 19881055. Whether interest payments under Land Acquisition Act are covered by section 194A
Circular No. 52524 November 1988Section 206C l Profits and Gains from Business of Trading in Alcoholic Liquor, Forest Produce, ETC
Circular No. 52417 October 1988Section 8OF l Deduction in RES Pect Ofeducational Expenses in Certain Cases
Circular No. 5235 October 1988Section 80 l Loss - Submission of Return for
Circular No. 52218 August 1988384. Monetary ceilings prescribed in section 40A(3)/269SS/269T - Raised to Rs. 10,000, Rs. 20,000 and Rs. 20,000, respectively, by Direct Tax Laws (Amendment) Act, 1987 - Clarification regar
Circular No. 52117 August 1988Instructions to subordinate authorities - Authorisation regard­ing condonation of delay in filing refund claim
Circular No. 52011 August 1988434. Capital Gains Account Scheme, 1984 - No penalty/interest to be levied in cases where due date of filing return of income is 30th June and assessee makes deposit and furnishes return by
Circular No. 51910 August 1988Financial Year 1988-89
Circular No. 5189 August 1988492. Whether the Karnataka Government Servants' monthly contributions under Karnataka State Employees' Group Insurance Scheme at a low cost and on a wholly contributory and self-financing ba
Circular No. 51716 June 1988Financial Year 1988-89
Circular No. 51615 June 1988Direct TAX (Amendment) Act, 1987 [As Amended by Direct TAX Laws (Amendment) Act, 1989] - Circular No. 516, Dated 15-6-1988; Circular No. 545, Dated 24-9-1989 ; Circular No. 549, Dated 31-10-
Circular No. 51615 June 1988920. New scheme relating to assessment of partnership firms to come into effect from 1-4-1990 instead of 1-4-1989 - Clarifica­tion of certain issues arising from change of date of commence­m
Circular No. 51431 May 1988Financial Year 1988-89
Circular No. 51531 May 1988Financial Year 1988-89
Circular No. 51327 May 1988Finance (Amendment) Act, 1987 - Circular No. 513, Dated 27-5-1988
Circular No. 51219 May 1988Expenditure-tax Act, 1987 Circular No. 512, Dated 19-5-1988
Circular No. 51110 May 19881373. Whether exemption of the deposits made under the National Savings Scheme, 1987, from wealth-tax, as per clause (xxvb) of sub-section (1) is not subject to the limit of Rs. 5 lakhs spec
Circular No. 50723 February 1988Financial Year 1987-88
Circular No. 50823 February 1988Financial Year 1986-87
Circular No. 50923 February 1988Section 194 l Dividends
Circular No. 51023 February 19881064. Deduction of tax at source, as per the rate specified in Part II of First Schedule to Finance Act, 1987, to be increased by a surcharge at the rate of 5 per cent - Effective from 16-12
Circular No. 50622 February 1988Financial Year 1985-86
Circular No. 50519 February 19881114. Deduction of tax at source, as per the rates specified in the section, to be increased by a surcharge at the rate of 5 per cent - Effective from16-12-1987
Circular No. 5048 February 1988955. Effect of insertion of sub-sections (2), (2A) and (2B) in section 192 by the Finance Act, 1987 - Relevant rules amended to enable tax deduction at source in situations envisaged in the
Circular No. 5036 February 1988Instructions to subordinate authorities - Authorisation regard­ing condonation of delay in filing refund claim
Circular No. 50227 January 19881111. Whether provisions of section 194C are applicable to work executed under National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP)
Circular No. 50120 January 1988954. Deduction admissible for deposits made in National Savings Scheme to be allowed while computing income of employees for purpose of deduction of tax at source
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.