Income Tax News
paying taxes in a good way--keeps the taxmen abay !!
14 July 2007 at 00:52Good compliance to keep taxman at bay !Delhi : You can breathe easy this fiscal-at least as far as the taxman is concerned. Satisfied with the revenue collections so far, the tax authorities are unlikely to focus on income surveys, audits or raids fo
ITR is turning out to be .. irksome tax return
13 July 2007 at 07:00Most of us have less than three weeks left to file our tax returnand as all of us know only too well, this has to be done using the newIncome Tax Return (ITR) forms that have replaced Saral - forms that arelengthy, intimidating and full of jargon. In
HC makes 'leave encashment' less taxing !
12 July 2007 at 23:15NEW DELHI: Companies providing for leave encashment payments in their books can now claim tax deduction even if the actual cash payouts have not taken place. Providing for leave encashments is mandatory under ICAI accounting norms for companies. Howe
No more filing of income-tax returns at post offices !
10 July 2007 at 06:46The income tax department is planning to withdraw a facility introduced last year for filing tax returns at around 2,000 post offices, owing to incomplete and inaccurate returns. Nearly 350,000 returns were filed through post offices last year. "Man
Three-month-old Orissa baby becomes youngest tax payer
07 July 2007 at 02:37Three-month-old Orissa baby becomes youngest tax payerBy Sarada LahangirRourkela (Orissa), July 4: A three-month-old Orissa baby has become the\nyoungest individual to get a tax account number, after a trust signed a pact\u003cbr\>\nwith
INCOME-TAX RETURN FORM GETS SIMPLER !
07 July 2007 at 23:35I-T return form gets simpler: There is some relief for income tax payers. While filing returns this year, they will not require to attach loads of documents related to investment details. The Income-Tax department has finally come clear on the issue.
What to do, if you have recd IT notice
04 July 2007 at 23:51A tax enquiry notice can be unnerving for most due to ignorance of laws and understanding the correct way to respond to such notices. Stories of experiences with the taxman also play their own role with people always asking "Why did I get a notice?
When can you make cash expenditure exceeding 20000: NEW RULES
04 July 2007 at 22:52NOTIFICATION NO208/2007, Dated: June 27, 2007In exercise of the powers conferred by Section 295 read with proviso to sub-section (3) of Section 40A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following
TDS on bond interest
03 July 2007 at 02:03The decision to deduct tax at source from the financial year 2007-08 in respect of the Government of India Savings Bonds if interest during a year exceeds Rs 10,000 is a big blow to many retired persons who have invested substantially in these bonds.
Tele-conference with CBDT officials!
02 July 2007 at 07:21Important Announcement Tele-conference on "E-filing of Income-tax return forms" to be held LIVE on 11 July, 2007 from 2.00pm to 4.30 pm in the Indira Gandhi National Open University (IGNOU) Dear Members, The Fiscal Laws Committee has decided to est
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