https://www.taxtmi.com/circulars?id=2872 Prescribes income-tax rates and surcharge rules for assessment year 2003-04; clarifies definitions of income, not ordinarily resident and business connection; reallocates tax incidence by exempting dividends and unit income in recipients' hands while levying additional income-tax at payer level; restricts certain insurance and foreign-interest exemptions; introduces targeted incentives (SEZ reinvestment, Offshore Banking Unit deduction, author and patent royalty deductions, regional tax holiday) and significant procedural reforms including new search-assessment provisions, electronic filing and annual information returns. en-us Fri, 05 Sep 2003 00:00:00 +0530 Mon, 11 Aug 2008 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2872 Prescribes income-tax rates and surcharge rules for assessment year 2003-04; clarifies definitions of income, not ordinarily resident and business connection; reallocates tax incidence by exempting dividends and unit income in recipients' hands while levying additional income-tax at payer level; restricts certain insurance and foreign-interest exemptions; introduces targeted incentives (SEZ reinvestment, Offshore Banking Unit deduction, author and patent royalty deductions, regional tax holiday) and significant procedural reforms including new search-assessment provisions, electronic filing and annual information returns. Circulars Income Tax Fri, 05 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2872