https://www.taxtmi.com/circulars?id=4976 The Direct Tax Laws (Amendment) Act, 1989 introduces targeted exemptions and procedural rationalisations across Income tax, Wealth tax and Gift tax laws: exemption of fees for technical services paid to specified foreign companies under Government security projects; interest exemption on notified non repatriable NRI bonds for eligible non resident Indians subject to non repatriation and anti encashment conditions; reintroduction of investment allowance as an alternative to the investment deposit scheme with a five year option lock; tourism focused tax incentives including a new deduction for foreign exchange earned profits; concessional tax treatment and withholding for foreign companies investing in specified mutual fund units; and mandatory valuation rules incorporated into the Wealth tax Act to reduce litigation. en-us Fri, 04 May 1990 00:00:00 +0530 Fri, 08 Aug 2008 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4976 The Direct Tax Laws (Amendment) Act, 1989 introduces targeted exemptions and procedural rationalisations across Income tax, Wealth tax and Gift tax laws: exemption of fees for technical services paid to specified foreign companies under Government security projects; interest exemption on notified non repatriable NRI bonds for eligible non resident Indians subject to non repatriation and anti encashment conditions; reintroduction of investment allowance as an alternative to the investment deposit scheme with a five year option lock; tourism focused tax incentives including a new deduction for foreign exchange earned profits; concessional tax treatment and withholding for foreign companies investing in specified mutual fund units; and mandatory valuation rules incorporated into the Wealth tax Act to reduce litigation. Circulars Income Tax Fri, 04 May 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4976