Provisional assessments. - Income Tax - 1350/CBDT

INSTRUCTION NO. 1350/CBDT Dated: September 5, 1980 As you are aware, the collection target of Income-tax and corporation tax during the current year has been fixed at Rs.3000 crores which is about 13% higher than the collection during 1979-80. It is therefore necessary to pay full attention to maximising the collection from every source. The Board have, therefore decided that during the current financial year also the provisional assessments should be completed under the Surtax Act and the demand collected where a regular assessment is not likely to be completed within the financial year. 2. The above should be treated as standing instruction and should be followed year after year. 3. It is requested that necessary instructions may please be issued to the ITOs in this regard.