https://www.taxtmi.com/circulars?id=4962 The Act adopts the financial year as the uniform accounting year, redesignates and consolidates tax authorities and their jurisdiction, redefines the Assessing Officer, and vests the Board with power to assign and delegate functions; it also overhauls advance tax by including all current income for instalment-based payments without filing formal estimates, prescribes computation and instalment rules, and introduces non-deduction and exemption rules for mutual funds established by public sector banks or public financial institutions, with transitional "removal of difficulties" powers for the Central Government. en-us Thu, 21 Sep 1989 00:00:00 +0530 Thu, 07 Aug 2008 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4962 The Act adopts the financial year as the uniform accounting year, redesignates and consolidates tax authorities and their jurisdiction, redefines the Assessing Officer, and vests the Board with power to assign and delegate functions; it also overhauls advance tax by including all current income for instalment-based payments without filing formal estimates, prescribes computation and instalment rules, and introduces non-deduction and exemption rules for mutual funds established by public sector banks or public financial institutions, with transitional "removal of difficulties" powers for the Central Government. Circulars Income Tax Thu, 21 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4962