Income Tax News

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

24th July to be celebrated as Income Tax Day

12 July 2010 at 09:54

24th July to be celebrated as Income Tax Day Income Tax department has decided to celebrate 24th July, as the annual Income Tax Day from this year, to mark 150 years of existence of this levy. "Since income tax was first levied as a duty in

Posted in Income Tax | 1 comments | 4302 Views

Investment in Bonds of IFCI, IDFC, LIC and NBFCs (Classified as Infra Finance Company) Eligible for Tax Exemption under Section 80CCF

09 July 2010 at 17:33

Investment in Bonds of IFCI, IDFC, LIC and NBFCs (Classified as Infra Finance Company) Eligible for Tax Exemption under Section 80CCF The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India; (ii) Lif

Posted in Income Tax | 7 comments | 10887 Views

View Tax Credit (Form 26AS) from bank site through net banking facility

08 July 2010 at 17:09

View Tax Credit (Form 26AS) from bank site through net banking facility Online view of Tax Credit Statement (Form 26AS) of taxpayer is also available to net banking account holders of registered banks for the benefits of the ta

Posted in Income Tax | 3 comments | 24054 Views

Submission of Suggestions on the Revised Discussion Paper [RDP] on the Direct Taxes Code [DTC] by the Direct Taxes Committee

08 July 2010 at 11:31

Submission of Suggestions on the Revised Discussion Paper [RDP] on the Direct Taxes Code [DTC] by the Direct Taxes Committee The Direct Taxes Committee of the Institute has submitted its Suggestions on the Revised Discussion Paper [RDP] on the Dir

Posted in Income Tax | 4344 Views

Direct Tax Collections Increase 15.49% during First Quarter- Corporate Taxes Register a Growth of 21.65%

06 July 2010 at 17:38

Direct Tax Collections Increase 15.49% during First Quarter- Corporate Taxes Register a Growth of 21.65% Net direct tax collections during first quarter of the present fiscal (up to June 2010) stood at Rs.68,675 crore, up from Rs.59,465 crore in t

Posted in Income Tax | 3135 Views

New features launched by income tax dept for efiling

23 June 2010 at 12:52

New features launched by income tax dept for efiling 1. The Department has modified the return preparation software to include automatic calculation of tax and interest and this is available for download free of cost. 2. New facility added in &quo

Posted in Income Tax | 5 comments | 15600 Views

New tax slabs after receiving inputs from people, says Pranab

18 June 2010 at 17:36

New tax slabs after receiving inputs from people, says Pranab Finance Minister Pranab Mukherjee on Friday said the government will take a view on new tax slabs after receiving inputs from different stakeholders on the revised draft of the Direct

Posted in Income Tax | 12 comments | 17319 Views

Suggestions of members invited on the Revised Discussion Paper on the Direct Taxes Code

18 June 2010 at 13:55

Suggestions of members invited on the Revised Discussion Paper on the Direct Taxes Code As you are kindly aware that the revised discussion paper on the Direct Taxes Code has been released on 15th June, 2010. The Government has invited suggestions

Posted in Income Tax | 3 comments | 5001 Views

FM Says DTC will be in Operation as per schedule with effect from 1ST April 201

17 June 2010 at 10:34

FM Calls for High Inclusive Growth to Generate more Jobs, Wealth and Easy availability and Accessibility of Food for Common Man FM Asks Industry Chambers to Impress Upon Policy Makers of their respective Regions to have early convergence of views

Posted in Income Tax | 8 comments | 10524 Views