https://www.taxtmi.com/circulars?id=5144 The Act revises income-tax and TDS rates, introduces a Minimum Alternate Tax on companies by deeming a portion of book profits taxable where normal taxable income is lower, and expands sectoral exemptions, tax holidays and targeted deductions (including for pension funds, infrastructure funds, R&D companies, medical expenses and donations). It clarifies depreciation for fractional ownership, tightens rules on sale-and-reacquisition for depreciation, broadens TDS credit for jointly owned income, raises thresholds for advance tax and TDS, and amends procedural time limits and registration requirements for charitable trusts and wealth-tax asset definitions. en-us Wed, 18 Feb 1998 00:00:00 +0530 Sat, 09 Aug 2008 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5144 The Act revises income-tax and TDS rates, introduces a Minimum Alternate Tax on companies by deeming a portion of book profits taxable where normal taxable income is lower, and expands sectoral exemptions, tax holidays and targeted deductions (including for pension funds, infrastructure funds, R&D companies, medical expenses and donations). It clarifies depreciation for fractional ownership, tightens rules on sale-and-reacquisition for depreciation, broadens TDS credit for jointly owned income, raises thresholds for advance tax and TDS, and amends procedural time limits and registration requirements for charitable trusts and wealth-tax asset definitions. Circulars Income Tax Wed, 18 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5144