TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Andhra Pradesh Court: Film Subsidies Now Capital Receipts, Not Taxed as Revenue; Rule 9A Amended for Clarity.</h1> The circular addresses the tax treatment of subsidies granted by state governments to producers of feature films in regional languages. Previously, these subsidies were taxed as revenue receipts. However, the Andhra Pradesh High Court ruled that such subsidies are capital receipts. To avoid disputes, the Board decided not to tax these subsidies as revenue receipts. The amendment to rule 9A of the Income-tax Rules, effective from July 7, 1989, states that the cost of film production should be reduced by the subsidy amount, provided it is not included in the total income. These changes apply from the assessment year 1990-91 onwards.
TaxTMI 
TaxTMI 
