https://www.taxtmi.com/circulars?id=5008 The Amending Act, 1991 increases the surcharge on income tax for domestic companies and non corporate resident assessees, prescribes effective dates for applying the enhanced surcharge to tax charged, deducted or collected at source, and sets transitional provisions for adjustment of advance tax instalments. It restricts depreciation deductions for companies to seventy five per cent of the otherwise calculated amount for a block of assets, clarifies exceptions for low cost assets and written down value computation, and exempts specified shortfalls arising from these changes from interest under section 234C where paid within prescribed subsequent instalments. en-us Wed, 30 Jan 1991 00:00:00 +0530 Fri, 08 Aug 2008 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5008 The Amending Act, 1991 increases the surcharge on income tax for domestic companies and non corporate resident assessees, prescribes effective dates for applying the enhanced surcharge to tax charged, deducted or collected at source, and sets transitional provisions for adjustment of advance tax instalments. It restricts depreciation deductions for companies to seventy five per cent of the otherwise calculated amount for a block of assets, clarifies exceptions for low cost assets and written down value computation, and exempts specified shortfalls arising from these changes from interest under section 234C where paid within prescribed subsequent instalments. Circulars Income Tax Wed, 30 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5008