Income Tax News
'Capital-gains' & 'Tax-hunters' !
13 August 2007 at 23:16Owning land away from city limits may be a good idea to keep away from the madding crowd - but not so much from taxes. As the penchant for a house with that green patch grows even in smaller cities, the income-tax department is mulling over enhancing
ITR 6 in excel format released by Income tax dept
12 August 2007 at 05:40ITR 6 in excel format released by Income tax deptClick on the link below to download http://www.caclubindia.com/files_download.asp?files_id=916
Myth or Reality-Low tax collection cost?
12 August 2007 at 02:37The I-T department should work out the cost of collection after excluding the tax collected at pre-assessment stages. T. N. Pandey One of the achievements for which the Income-Tax (I-T) department takes considerable credit is the low cost of collecti
COMPARATIVE SCRUTINY GUIDELINES
11 August 2007 at 01:23To download the comparative scrutiny guidelines click on the link belowhttp://www.caclubindia.com/files_display.asp?files_id=898
Tax should be paid on Gross or Net Income????
08 August 2007 at 05:57Salaried people now pay income-tax on their gross income while businessmen, self-employed persons and others pay tax on their net income, even as the income-tax exemption limit is the same for everyone. This gross injustice needs to be removed. As pe
Retailers Rosy days out-IT Dept
08 August 2007 at 05:48The party for retailers taking space in malls may soon end with the tax sleuths on prowl to check evasion of tax deducted at source (TDS) by them. Income-tax department is laying special emphasis on tightening of TDS administration, as these payments
80C benefit may be increased to 2 lac..
08 August 2007 at 05:31Additional tax-saving avenues are on their way. A Securities & Exchange Board of India committee has proposed tax exemptions up to Rs2 lakh under Section 80 C of the Income Tax Act, as against the current limit of Rs1 lakh. The only caveat is that th
New IT Code by December !
08 August 2007 at 05:15New I-T code to be tabled before December!Finance Minister P Chidambaram has been working on drafting the code, which after being tabled in Parliament, will have to go through a process that will take quite some time before it is passed. The new inco
Long term capital exemption may go ...
07 August 2007 at 23:19The Central Board of Direct Taxes (CBDT) is considering a proposal to restrict the exemption on long-term capital gains only to companies constituting the BSE-500 index. At present, the exemption under Section 10 (38) is allowed on transactions of sh
Cost Inflation Index for Financial Year 2007-08
07 August 2007 at 04:59The Cost Inflation Index for the Financial Year 2007-08 has been notified as 551 vide NOTIFICATION NO. 214/2007, DATED 3-8-2007.
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