Income Tax News

Due date for filing of income tax return extended till 04-Aug-2010

02 August 2010 at 10:17

Due date for filing of income tax return extended till 04-Aug-2010 The Central Board of Direct Taxes (CBDT) has decided to extend the due date of filing of income tax returns to 4th August 2010 for taxpayers for whom the due date ends today, which

Posted in Income Tax | 1 comments | 5508 Views

Processing Of PAN Card

30 July 2010 at 17:22

Processing Of PAN Card The service providers are required to issue Permanent Account Number Cards within 15 calendar days for fresh applicant and within 20 calendar days for reprint/ correction, excluding the time taken by the department and the a

Posted in Income Tax | 1 comments | 14958 Views

8 new overseas Income Tax (IT) Units in Indian Missions abroad to be set-up under the Double Taxation Avoidance Agreement

28 July 2010 at 10:35

8 new overseas Income Tax (IT) Units in Indian Missions abroad to be set-up under the Double Taxation Avoidance Agreement It is proposed to create 8 new overseas Income Tax (IT) Units in Indian Missions abroad to have effective exchange of informa

Posted in Income Tax | 3 comments | 4248 Views

FM Calls for Double Digit Contribution of Direct Taxes to GDP

26 July 2010 at 10:21

FM Calls for Double Digit Contribution of Direct Taxes to GDP Revised Citizens’ Charter Released I-T Department Celebrates 150 Years of Income Tax in India The Finance Minister Shri Pranab Mukherjee has asked the income tax department to mak

Posted in Income Tax | 4566 Views

IT department, biggest litigant in Govt: FM

26 July 2010 at 10:01

IT department, biggest litigant in Govt: FM Calling it the biggest litigant in the entire Government, Finance Minister Pranab Mukherjee on Saturday asked the Income Tax Department to reexamine the way it handles tax disputes. Speaking at the 150t

Posted in Income Tax | 3888 Views

Processing of returns of Assessment Year 2009-10 - Steps to clear backlog

22 July 2010 at 16:38

Processing of returns of Assessment Year 2009-10 - Steps to clear backlog Instruction No. 5/2010 [F.No.225/25/2010-ITA-II] Dated 21-7-2010 The issue of processing of returns for Asst. year 2009-10 and giving credit for TDS has been considere

Posted in Income Tax | 5544 Views

Preparation of correction TDS/TCS statement made easy. Register your TAN online and get your consolidated TDS/TCS statement

22 July 2010 at 10:44

Preparation of correction TDS/TCS statement made easy. Register your TAN online and get your consolidated TDS/TCS statement Deductors / collectors are required to furnish a quarterly TDS / TCS statement as per guidelines of the Income Tax Departme

Posted in Income Tax | 15582 Views

Changes in Rules relating to e-filing of I-T returns

14 July 2010 at 10:29

CBDT on changes in Rules relating to e-filing of I-T returnsNo.402/92/2006-MC (35 of 2010)Government of India / Ministry of FinanceDepartment of RevenueCentral Board of Direct Taxes***New Delhi the 12th July 2010PRESS RELEASEThe Central Board of Dir

Posted in Income Tax | 5 comments | 16419 Views

Mandatory for all Companies to File I-T Returns Electronically with Digital Signature

12 July 2010 at 17:17

Mandatory for all Companies to File I-T Returns Electronically with Digital SignatureThe Central Board of Direct Taxes (CBDT) has amended the Rules relating to electronic filing of income tax returns vide Notification No.49/2010 dated 9th July 2010.

Posted in Income Tax | 3 comments | 7758 Views

Income-tax (Seventh Amendment) Rules, 2010 - Amendment in rule 12

12 July 2010 at 10:07

Income-tax (Seventh Amendment) Rules, 2010 – Amendment in rule 12 Notification No. 49/2010[F.No.142/15/2010-TPL] Dated 9-7-2010 In exercise of the powers conferred by section 295 read with section 139 of Income-tax Act, 1961 (43 of 196

Posted in Income Tax | 2 comments | 9072 Views