Income Tax News

Be courteous: FM tells Income Tax dept

09 June 2007 at 00:44

The Income Tax department should be "friendly and courteous" towardsthe tax-payers while recovering levies, Union Finance Minister PChidambaram said on Friday. Inaugurating a Rs 38 croremulti-storeyed tower for the department

Posted in Income Tax | 3624 Views

New ITR forms in excel format

06 June 2007 at 08:29

Click on the link below to downloadhttp://www.caclubindia.com/files_display.asp?files_id=705

Posted in Income Tax | 18822 Views

Settlement Commission Members Appointed

03 June 2007 at 00:44

Settlement Commission four Members appointed30 May 07F.No. A.12026/1/2005-Ad.IGovernment of IndiaMinistry of FinanceDepartment of RevenueDated : May 30, 2007OFFICE ORDER NO 152/2007The President of India is pleased to appoint Shri Raj Kishore, Chief

Posted in Income Tax | 9462 Views

Acceptance of Return Form in Paper Form for Firms etc

02 June 2007 at 03:52

Acceptance of returns of income/ fringe benefits in paper form for assessment year 2007-08 in case of firms liable to audit under section 44AB and companies - reg. May, 29th 2007 Circular No. 03 / 2007F.No. 153/75/2007-TPLGovernment of IndiaMinistry

Posted in Income Tax | 4833 Views

8 per cent taxable bonds attract TDS from 1st June

01 June 2007 at 23:28

MUMBAI: Eight per cent taxable bonds, floated by the Government in 2003, will attract tax deduction at source (TDS) from today on interest exceeding Rs 10,000 in a year. "Tax is required to be deducted at source on the interest exceeding Rs 10,000 pa

Posted in Income Tax | 4098 Views

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 | 3714 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 | 5094 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 | 5568 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 | 3084 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 | 6561 Views