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 Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 1987: Updates Income Tax Rates, Amends Wealth, Gift Tax Acts, Redefines Long-term Capital Assets</h1> The Finance Act, 1987, enacted on May 12, 1987, implements the Central Government's financial proposals for the fiscal year 1987-88. It outlines the rates of income tax applicable from April 1, 1987, and introduces amendments to various sections of the Income-tax Act, 1961, including changes in tax deductions, capital gains, and definitions of terms like 'long-term capital asset.' The Act also amends sections related to the Wealth-tax Act, Gift-tax Act, and introduces new provisions for tax computation and deductions. Additionally, it revises rules for tax deduction at source and sets procedures for the Income-tax Settlement Commission.
TaxTMI 
TaxTMI 
