plz tell me the difference between circulars, notification and rules
Tarun Poddar (CA FINAL) (233 Points)
12 October 2009plz tell me the difference between circulars, notification and rules
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 12 October 2009
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Notification is issued by authority for publishing rules or regulations or decisions in the Government Gazette and has authority and enforceability of law.
Circular is an administrative order sent to multiple reciepients and may or may not have authority or enforceability of law.
Originally posted by :Tarun Poddar |
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| " | plz tell me the difference between circulars, notification and rules | " |
CA Sheetal Gude
(CA , CWA)
(59 Points)
Replied 12 October 2009
Rules are derived from the sections of the Income Tax Act and are always mentioned in the section itself. For e.g. Sec 14A r.w. Rule 8D, Sec 40A(3) r.w. Rule 6DD. These rules are subservient to the sections with whom they are quoted and are to be followed in the strictest sense as the sections of the Income Tax.
For notifications and circulars, I agree with Mr. Praveen Kumar.
Max Payne
(employed)
(2569 Points)
Replied 12 October 2009
Circulars are binding on the AO, but not on the assessee?
CA SUDHAKAR
(CHARTERED ACCOUNTANT)
(189 Points)
Replied 12 October 2009
YES, i AGREE, CIRCULARS ARE BINDING ONLY ON ASSEESING OFFICER.
CA Inderdeep Singh
(CHARTERED ACCOUNTANT)
(103 Points)
Replied 13 October 2009
circulars/notifications are issued for proper understanding of scope and meaning of income tax law. these are binding on assessing officer not on assesee means assessee can take benefit from circulars
rules are framed by CBDT for proper adminstration of income tax act
Rajeev
(www.rkmco.com)
(985 Points)
Replied 13 October 2009
Not necessarily , that board circulars are binding on the AO , if there is some court judgement against the circular , AO cannot be binded by the circular
There was some case considered by ITAT special bench ( delhi ) in Oct 2007 , where it was held that AO is not binded by board circular in case if there is some court judgement against the circular . Sorry i dont remember the citation , it was some case of AOP/trust
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