Income Tax News


Members requested to share difficulties faced in efiling of tax audit reports

   15 July 2013 at 12:28

As the members are aware, the Direct Taxes Committee of ICAI makes suitable representations to the Central Board of Direct Taxes or other appropriate bodies on various issues arising out of direct tax laws from time to time which are brought to the

Posted in Income Tax  2 comments |   11778 Views


Direct Tax Collection for June Quarter

   10 July 2013 at 11:29

Gross direct tax collection during April-June of the F.Y. 2013-14 is up by 11.52 percent at Rs. 1,23,993 crore as against Rs. 1,11,183 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 7.82 percen

Posted in Income Tax  4 comments |   11709 Views


Clarification Regarding Applicability of SA 700 on Tax Audit Report under Section 44AB of The Income-Tax Act, 1961

   06 July 2013 at 12:24

As the members are aware that all audit reports in respect of audits of financial statements for period beginning on or after 1st April 2012 are to be issued in accordance with the requirements of SA 700(Revised) - Forming an Opinion and Reporting

Posted in Income Tax  7 comments |   29079 Views


Implementation of the approved Restructuring of the Income Tax Department

   04 July 2013 at 17:14

Government has approved Cadre Restructuring of the Department for the creation of 20,751 additional posts and for carrying out various measures to increase the effectiveness of the Department. Please find the attached file for full news.

Posted in Income Tax  2 comments |   15672 Views


New Circulars on Transfer Pricing of Development Centres

   01 July 2013 at 12:14

It has been decided to rescind Circular2/2013 dated 26.03.2013 and amend Circular 3/2013 dated 26.03.2013 pertaining to transfer pricing issues. Please find attached - Press Release by FM Amended Circular No.3 Circular No.5

Posted in Income Tax |   8976 Views


Income-Tax (Eighth Amendment) Rules, 2013 - Insertion of Rule 21AC and Form no. 10FC

   28 June 2013 at 16:22

[TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 26th day of June, 2013 INCOME-TAX

Posted in Income Tax |   21948 Views


Standardizing the process of filing application under section 10(46) of the Income Tax Act, 1961

   25 June 2013 at 10:13

Standardizing the process of filing application under section 10(46) of the Income Tax Act, 1961

Posted in Income Tax  1 comments |   14961 Views


The Central Government hereby appoints Finance Act, 2013 (17 of 2013) the 1st day of July, 2013

   21 June 2013 at 10:55

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19 June, 2013 NOTIFICATION S.O. 1768 (E).- In exercise of the powers conferred by sub-section (2) of section 115 of the Finance Act, 2013 (17 of 2013), the Central Gove

Posted in Income Tax |   24819 Views


Commodities Transaction Tax Rules, 2013

   21 June 2013 at 10:55

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19 June, 2013 NOTIFICATION COMMODITIES TRANSACTION TAX RULES, 2013 S.O. 1769 (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 133 of the

Posted in Income Tax  1 comments |   19476 Views


A Word from New Chairperson, CBDT

   18 June 2013 at 12:22

A WORD FROM CHAIRPERSON, CBDT My Dear Members of the Aayakar Family, On my elevation as Chairperson of CBDT, I take the first opportunity to greet you all and thank you for your good wishes I received during these days. I feel greatly humbled by

Posted in Income Tax |   14235 Views



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