Circulars of 2007

Every circular the Income Tax Department published in 2007 — 9 of them, newest first. Each one opens on its own page.

Number	Date	What it deals with
Circular No. 9/2007	20 December 2007	Explanatory circular on Fringe Benefit Tax arising on allotment or transfer of specified securities or sweat equity shares
Circular No. 8/2007	5 December 2007	Income-tax Deduction from Salaries during the financial year 2007-08 under section 192 of the Income-tax Act, 1961
Circular No. 7/2007	23 October 2007	7/2007 dated 23 10 2007
Circular No. 6/2007	11 October 2007	Allowability of harvesting and transportation expenses in the cases of Co-operative sugar mills
Circular No. 5/2007	26 July 2007	New Return Forms for Assessment Year 2007-08 – matters connected thereto – reg
Circular No. 4/2007	15 June 2007	Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinction
Circular No. 3/2007	25 May 2007	Acceptance of Returns of Income/ Fringe Benefits in Paper Form for Assessment Year 2007-08 in Case of Firms Liable to Audit under section 44AB and Companies
Circular No. 2/2007	21 May 2007	2/2007 dated 21 05 2007
Circular No. 1/2007	27 April 2007	1/2007 dated 27 04 2007

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.