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of <h1>Correction on State Subsidies: Deduct Untaxed Subsidy from Film Costs per Rule 9A, Income-tax Rules, 1962.</h1> The circular addresses a correction to a previous directive regarding state subsidies for producers of regional language feature films. It clarifies that the phrase 'shall not be reduced' in the last sentence of paragraph 4 of Circular No. 541 was a typographical error. The corrected sentence states that the subsidy amount received by producers, which has not been taxed, should be deducted from the film's production cost according to rule 9A of the Income-tax Rules, 1962. This amendment is communicated to all Chief Commissioners and Directors-General of Income-tax.
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