Income Tax News

Filing tax? Take your documents along

04 July 2008 at 17:48

IT officers may ask for the same while filing, Come July 31 and it is time to file the income tax return (ITR).

Posted in Income Tax | 12273 Views

Robust growth in direct tax collection

19 June 2008 at 11:03

Net direct tax collections in the first two months of the present fiscal stood at Rs.22,840 crore, up from Rs.13,335 crore, registering a growth of 71.28 percent. Growth in Corporate Taxes was 68.05 percent (Rs.8,126 crore as against Rs.4,835 crore),

Posted in Income Tax | 4323 Views

If you can help it, pay your tax online

17 June 2008 at 11:52

The process obviates a visit to the CA and the long queues at the bank and the tax office, Online filing of income tax appears to have caught on since the shift from Saral to the Indian Income Tax

Posted in Income Tax | 7632 Views

FM seeks higher tax receipts goal: milking mirage?

10 June 2008 at 11:07

Economists say duty cuts, slowdown, poor markets and lower consumption will crimp tax receipts, Rising tax collections in the last four years and expectations that more people

Posted in Income Tax | 3375 Views

Direct tax collections at Rs.3,14,468 crore for 2007-08

07 June 2008 at 00:55

The Finance Minister Shri P. Chidambaram will inaugurate the 24th Annual Conference of Chief Commissioners & Directors General of Income Tax here on coming Monday. The valedictory address will be given by Minister of State for Finance Shri S.S. Palan

Posted in Income Tax | 3438 Views

India Signs Double Taxation Avoidance Agreement with Luxembourg

03 June 2008 at 10:39

Government of India signed a Double Taxation Avoidance Agreement (DTAA) with the Government of the Grand Duchy of Luxembourg for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on Income and on capital,

Posted in Income Tax | 4677 Views

Income-tax officers are now demanding annexures with IT returns

28 May 2008 at 13:44

The income-tax department in Mumbai appears to be reversing the finance ministry's efforts to simplify the filing of tax returns. Last year, in an effort to reduce the paperwork

Posted in Income Tax | 1 comments | 15216 Views

Cess on income tax proposed to fund fuel subsidy

28 May 2008 at 13:33

Finmin seeks formula for 'revenue-neutral' halving of subsidies, The petroleum ministry has proposed to impose a surcharge on direct taxes to offset the staggering losses oil companies

Posted in Income Tax | 4860 Views

House rent receipts can save you tax

26 May 2008 at 12:57

Under section 10 (13A) of the Income Tax Act, you can claim a deduction on the rent you pay, Aam aurat and aam aadmi just moved into the city of dreams.

Posted in Income Tax | 1 comments | 17571 Views

SAVE TAX ON LOSS FROM SHARE

23 May 2008 at 11:23

By reading the title of the post you will be thinking that there is no tax on long term capital gain on shares then what is the relation between tax saving and long term capital loss?But after reading the next few lines you will definitely understand

Posted in Income Tax | 6 comments | 7515 Views