https://www.taxtmi.com/circulars?id=5053 The Finance Act, 1992 reconfigures direct taxation by prescribing new income tax and TDS rates, adjusting surcharge thresholds, and establishing Part III withholding and advance tax rules; it broadens the tax base and revises exemptions and rebates (including changes to deductions, medical and senior citizen reliefs, and mutual fund/co operative exemptions); recasts long term capital gains with indexation and separate flat taxation; treats firms as separate taxable entities with reformed remuneration and carry forward rules; and streamlines procedural, TDS, wealth tax and sectoral definitions with specified effective and transitional dates. en-us Mon, 31 Aug 1992 00:00:00 +0530 Mon, 11 Aug 2008 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5053 The Finance Act, 1992 reconfigures direct taxation by prescribing new income tax and TDS rates, adjusting surcharge thresholds, and establishing Part III withholding and advance tax rules; it broadens the tax base and revises exemptions and rebates (including changes to deductions, medical and senior citizen reliefs, and mutual fund/co operative exemptions); recasts long term capital gains with indexation and separate flat taxation; treats firms as separate taxable entities with reformed remuneration and carry forward rules; and streamlines procedural, TDS, wealth tax and sectoral definitions with specified effective and transitional dates. Circulars Income Tax Mon, 31 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5053