INCOME TAX
Circular Number:
4(xi-3)D
Dated 09/04/1959
Subjects: Films-Cost of production and cost of acquiring distribution rights- Amortisation of.
Attention is invited to Board's Circular No. 1D of 1951, dated 4th January, 1951 on the above subject.
2. For paragraph 2 of the above Circular, the following shall be substituted:
"While it will not be right and may lead to tax evasion if the percentages mentioned in the "standard" formula are applied irrespective of the point of time a film is purchased or released for exhibition in a particular year, the Board of time