Income Tax News

EXTENSION OF DATE OF FILING IT RETURNS IN ORRISA

30 September 2008 at 09:52

EXTENSION OF DATE OF FILING IT RETURNS AND OBTAINING TAX AUDIT REPORT IN THE STATE OF ORISSAPRESS RELEASE NO. 402/92/2006-MC (45 OF 2008), DATED 29-9-2008 The Central Board of Direct Taxes have extended the last date of filing of income tax returns

Posted in Income Tax | 7350 Views

Interest Rates for Tax Overpayments and Underpayments

26 September 2008 at 13:01

The IRS has announced the interest rates for tax overpayments and underpayments for the calendar quarter beginning October 1, 2008.For non-corporate taxpayers, the rate for both underpayments and overpayments will be 6%. For corporations, the overpa

Posted in Income Tax | 2 comments | 11574 Views

TAX DEPT MUST ACCEPT COS' AUDITED ACCOUNTS: SC

25 September 2008 at 18:02

The Supreme Court has said the Income-Tax Department has to accept the authenticity of the accounts maintained in accordance with the provisions of the Companies Act and certified by the auditors. The assessing officer cannot go beyond the

Posted in Income Tax | 5 comments | 14004 Views

Health cover a tax-saver, too

23 September 2008 at 16:19

Lest you forget, deduction possible under Sec 80D has gone up from this fiscal, When the finance ministry released a list of items that make it mandatory for the owner to file income-tax returns

Posted in Income Tax | 5076 Views

Last date of filing of income-tax returns extended in Bihar

20 September 2008 at 14:43

The Central Board of Direct Taxes (CBDT) has extended the last date of filing of income-tax returns and obtaining of tax audit report, due by September 30, 2008, to November 30 in Bihar in view of the disruptions caused by floods in that State.

Posted in Income Tax | 10611 Views

New Services Notified for tds u/s 194J specially in sports area

26 August 2008 at 12:34

After taking Clue from the success of IPL(Indian Premier league) and money involved in it ,as you have heard at the time of IPL is running that department is exploring the way how to collect or tax the event or under which provision they can be calle

Posted in Income Tax | 18264 Views

Procedure for filing TDS returns with insufficient deductee PAN

13 August 2008 at 13:05

Procedure for filing TDS returns with insufficient deductee PAN As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS statements with a threshold limit of Permanent Account Number (PAN)

Posted in Income Tax | 4 comments | 11223 Views

12.49 lakh e-returns of income filed

02 August 2008 at 03:15

The facility of filing income-tax returns electronically (e-returns) has received overwhelming response from the taxpayers. As on 31st July 2008, 12.49 lakh e-returns were filed compared to 1.46 lakh e-returns filed up to the same date last year, an

Posted in Income Tax | 1 comments | 6441 Views

Couldn't file return? Don't panic

28 July 2008 at 11:51

Those who had their tax deducted at source can file it till March 31, 2010. The last date to file your income-tax return is just three days away.

Posted in Income Tax | 1 comments | 16173 Views

If you don't attach annexures forget tax refunds for 2-3 yrs

28 July 2008 at 11:46

The taxman is a tough nut to crack. DNA had on May 27 reported (Mr Chidambaram, look what your taxmen are up to) that the Income Tax office at the Bandra-Kurla Complex had been insisting on salaried individuals

Posted in Income Tax | 11757 Views