Income Tax News

10 percent tax rate for income below 10 lakh

12 August 2009 at 23:21

The government on wednesday introduced the new DIRECT TAX CODE. The new code has far reaching effect and attempts at simplifying the entire 47 year old tax structure of the country . The new code will become law only in 2011. The sailent features of

Posted in Income Tax | 9 comments | 25749 Views

DIRECT TAXES CODE BILL, 2009 RELEASED

12 August 2009 at 19:27

MINISTRY OF FINANCE RELEASES DIRECT TAXES CODE BILL, 2009 Click Here to downloadClick here to download discussion paper

Posted in Income Tax | 4 comments | 29508 Views

Direct Tax code to be released

12 August 2009 at 11:02

FM to release ‘Direct Taxes Code’ todayFinance Minister, Shri Pranab Mukherjee will release the draft of the Direct Taxes Code and a Discussion Paper tomorrow in the presence of Union Home Minister, Shri P. Chidambaram and Ministers of St

Posted in Income Tax | 7275 Views

TAX LAWS SHOULD BE SIMPLE, STABLE AND ROBUST

12 August 2009 at 10:58

Early signs of revival of Indian economy visible: FM TAX LAWS SHOULD BE SIMPLE, STABLE AND ROBUST NEW DIRECT TAXES CODE IN PUBLIC DOMAIN TOMORROW The Finance Minister, Shri Pranab Mukherjee has said that global economy has started stabilizing and e

Posted in Income Tax | 3 comments | 5982 Views

Direct tax collections increase 3.27% in first four months o

11 August 2009 at 11:39

Direct tax collections increase 3.27% in first four months of fiscalNet direct tax collections during first four months of the present fiscal (up to July 2009) stood at Rs.73,990 crore, up from Rs.71,648 crore in the same period last fiscal, register

Posted in Income Tax | 1 comments | 4200 Views

HIGHLIGHTS OF e- FILING SEASON AY 08-09 ( up to 31/03/2009)

01 August 2009 at 13:26

HIGHLIGHTS OF e- FILING SEASON AY 08-09 ( up to 31/03/2009) Table 1: Key results and performance indicators

Posted in Income Tax | 9 comments | 15819 Views

Suggestion given on Direct taxes

29 July 2009 at 14:19

Suggestions given by ICAI in Post Budget Memorandum, 2009 and accepted by the Ministry of Finance Clause Section Proposed Amendment Suggestion Given in Post-Budget Memorandu

Posted in Income Tax | 3 comments | 7224 Views

Centralised Processing centre for IT return in Bangalore

25 July 2009 at 10:48

IT Return Processing CentresThe Government proposes to set up a Centralised Processing Centre (CPC) during 2009-10 only at Bengaluru, for processing of all Income-tax returns received in the State of Karnataka and for processing of all e-returns rece

Posted in Income Tax | 10 comments | 11604 Views

UTN expected to be operational from 1st Jan 2010

25 July 2009 at 10:43

Unique Transaction NumberThe Government has decided to make it compulsory to quote Unique Transaction Number (UTN) in the Income-tax return forms to be filed by all the assessees to whom such number has been allocated by the Income-tax Department. S

Posted in Income Tax | 7 comments | 6876 Views

Net direct tax collections register 3.65% growth

23 July 2009 at 10:48

Net direct tax collections register 3.65% increase in the first QuarterNet direct tax collections during first three months of the present fiscal (up to June 2009) stood at Rs.59,465 crore, up from Rs.57,373 crore in the same period last fiscal, regi

Posted in Income Tax | 3624 Views