CAclubindia News

Taxhounds readying data bank to chase defaulters

01 June 2007 at 02:28

PAY your taxes honestly and in time. The income-tax department is now going whole hog after recovery of tax arrears. Asa part of this exercise, the Central Board of Direct Taxes is creatinga data bank of those asse

Posted in Income Tax | 3675 Views

Filing Form 16 not required for refund

01 June 2007 at 02:23

The Income Tax Department has said there was no need for appending 'Form16' - the statement of tax deducted at source - with the returns on income toavail of tax refunds. "Ataxpayer is not required to file any document relating to computation of in

Posted in Income Tax | 5070 Views

New Tax Laws to get rid of CAs

30 May 2007 at 06:52

How long have you been struggling to make sense of the Income Tax Act to tackle important issues in your life like the tax implications for funding higher education of your children or planning for retirement?Sure enough, only a tax professional woul

Posted in Income Tax | 5532 Views

Direct collection rises 128% in April

29 May 2007 at 05:25

Direct tax collection in April 2007 has shot up by over 128%, mainlydue to faster clearing of refunds by the income tax department during2006-07. Direct tax collection in April 2007 stood at Rs 5,441 crore,compared with Rs 2,381 crore in the correspo

Posted in Income Tax | 3033 Views

CFA Institute moves Delhi HC

29 May 2007 at 04:57

Stungby the missive from the All India Council for Technical Education(AICTE) to wind up its operations in India, the Chartered FinancialAnalyst (CFA) Institute has filed a petition in the Delhi High Courtseeking a stay on the notice, even as it has

Posted in Students | 5727 Views

Submit Form 16 for refunds: I-T Dept

27 May 2007 at 08:05

Press Trust of IndiaSunday, May 27, 2007 (New Delhi):Individual assessees have to submit Form 16 - a certificate of tax deducted at source - along with income tax returns to avail of timely payment of refunds, I-T Department officials say.However, if

Posted in Income Tax | 1 comments | 6531 Views

Income-tax return preparers..here they come

25 May 2007 at 02:46

The Finance Minister, Mr P. Chidambaram, has advised the first batchof income-tax return preparers to stay up-to-date with tax laws andperiodically go in for refresher courses to be in tune with changes intax laws.

Posted in Income Tax | 4377 Views

Now CAs can also do CFA

23 May 2007 at 01:06

After nearly two decades, the Institute of Chartered FinancialAnalysts of India (ICFAI) has won the `chartered' row against the ICAI(Institute of Chartered Accountants of India). In a decision dated May 16, the apex court ruled in favour ofthe Hydera

Posted in Students | 9567 Views

TDS collections to be transparent

23 May 2007 at 00:57

Income Tax (IT) department is all set to make collections through Tax Deductionat Source (TDS) more transparent. After making it mandatory for government andcorporate organisations to file TDS returns online, the department has nowdecided to extend s

Posted in Income Tax | 3720 Views

Seven More Taxable Services w.e.f 1st June 2007

22 May 2007 at 21:09

PTI[ TUESDAY, MAY 22, 2007 07:39:59 PM] NEW DELHI: Seven more services such as commercial property renting, fax, pager and content for telecom will become costlier from June 1 with the government bringing these services under the tax net. This will t

Posted in Service Tax | 7032 Views