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CIRCULAR NO 7/2008 Dated: August 1, 2008

In exercise of the powers conferred under sub-section (1) of section 119 of Income-tax Act, 1961, Central Board of Direct Taxes hereby directs that corporations which are established by a Central, State or Provincial Act for the welfare and economic upliftment of ex-servicemen and whose income qualifies for exemption from Income-tax u/s. 10(26 BBB) of the Income Tax Act, 1961, are hereby given exemption from Tax Deduction/Collection at Source on their receipts.

2. This exemption shall not absolve such organisations from their statutory obligations of deducting TDS on all contractual payments made by them to other parties including sub-contractors etc.

3. This exemption shall be valid for 3 years from the date of issue of this order.

4. After the end of 3 years, all the Chief Commissioners of Income-tax will send their feedback to the CBDT on the benefits and/or shortcomings observed in the working so as to enable a review and further decision by the Board in the matter.

F.No.275/50/2006-ITB

(Ansuman Pattnaik)
Director (Budget)

GST RATES FINDER GST ACTS BOOK (DECODING GST) GST RULES GST PROVISIONAL REGISTRATION MODEL GST LAW LEVY OF TAX

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .