https://www.taxtmi.com/circulars?id=4969 Circular explains operative amendments to direct tax law: withdrawal by 1989 of certain 1987 schemes (firms/partners taxation, unified charitable treatment, additional tax in lieu of penalty), restoration and modification of exemptions under section 10 and sections 11-13, notification based exemption mechanisms, liberalisation of business expense allowability (bonuses, bad debts, remuneration ceilings) with actual payment and write off rules, clarified powers for search, seizure and information exchange, streamlined tax recovery procedure and revised penalties and prosecution scope, together with parallel consequential changes to wealth and gift tax provisions and transitional application dates. en-us Tue, 23 Jan 1990 00:00:00 +0530 Fri, 08 Aug 2008 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4969 Circular explains operative amendments to direct tax law: withdrawal by 1989 of certain 1987 schemes (firms/partners taxation, unified charitable treatment, additional tax in lieu of penalty), restoration and modification of exemptions under section 10 and sections 11-13, notification based exemption mechanisms, liberalisation of business expense allowability (bonuses, bad debts, remuneration ceilings) with actual payment and write off rules, clarified powers for search, seizure and information exchange, streamlined tax recovery procedure and revised penalties and prosecution scope, together with parallel consequential changes to wealth and gift tax provisions and transitional application dates. Circulars Income Tax Tue, 23 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4969