CAclubindia News

FM on tax compliance !

24 July 2007 at 22:38

The Finance Minister, Mr. P. Chidambaram, said that tax rates have been moderate in the country and that more people are complying with taxation laws."I take legitimate pride in being part of the team that moderated taxes since 1991. More people are

Posted in Income Tax | 2961 Views

Burden on burden - new tax return forms

23 July 2007 at 09:04

A.P. TAX BAR ASSOCIATION - HIGHLY CRITICAL OF NEW INCOME TAX RETURN FORMS.Several years back the Income Tax Return forms were bulky and required the services of An expert for filling it. But with the onset of liberalisation the I.T.Return forms got

Posted in Income Tax | 4548 Views

ICAI to adopt global standards from 2011

23 July 2007 at 03:36

The Institute of Chartered Accountants of India (ICAI) has decided to fully converge with the international financial reporting standards (IFRS) from April 1, 2011. The IFRS are issued by the International Accounting Standards Board. A work plan woul

Posted in Accounts | 4623 Views

Did not spare Patent n Trademark Applications for E-filing!!

23 July 2007 at 03:18

The government has launched a facility for e-filing of patent and trademark applications to expedite the process of securing exclusive rights over a product or trading symbol."With the launch of e-filing facilities, applicants can file their patent a

Posted in Income Tax | 2598 Views

Closing price on vesting day may fix FBT on Esops

20 July 2007 at 03:44

The finance ministry may settle for the closing price of shares of alisted company on the stock market on the day the scrips are vestedwith employees to decide valuations for the fringe-benefit tax (FBT).The ministry will soon issue guidelines on how

Posted in Income Tax | 2709 Views

I-T Dept gearing up to check tax evasion

19 July 2007 at 07:51

The Income Tax Department is gearing up to prepare a 360-degree taxprofiling of individual tax payers in the country to keep a tab on taxevasion and money laundering. "FinanceMinister has given a go-ahead for integrated 360-degree mapping ofindividua

Posted in Income Tax | 3207 Views

No extension of IT return date

19 July 2007 at 07:48

Finance Minister P Chidamabram on Tuesday ruled out extending the datefor submitting income tax returns and asked tax payers to file theirreturns by July 31. "No chance. I suggest you file (I-T returns) today. Don't waituntil the last day. Please fil

Posted in Income Tax | 3912 Views

Biometric PAN cards to arrive shortly

17 July 2007 at 11:59

Biometric PAN cards to arrive shortly Press Trust of India / New Delhi July 17, 2007 All the new income tax payers in the country will soon begin to get biometric permanent account number (PAN) cards with enhanced security features like fingerpri

Posted in Income Tax | 3357 Views

I-T Dept not accepting returns below taxable limits

17 July 2007 at 11:54

I-T Dept not accepting returns below taxable limits Strange are the ways of Income Tax Department, Delhi. The Finance Minister wishes to have more and more Income Tax Returns being filed. But Delhi Offices of I-T Dept do not accept income tax retu

Posted in Income Tax | 6738 Views

Life & taxes....

17 July 2007 at 11:45

Loss of a dear one leaves a void that cannot be filled. The familybesides being emotionally disturbed, is also at loss on financial front,especially if that individual is the sole/main earning member of the family.Often the family receives one or mor

Posted in Community & General | 4473 Views