Income Tax News

Irregularities in Providing Tax Concession

19 July 2014 at 18:39

Exemptions and tax concessions under the Income-tax Act, 1961 (‘Act’) are provided in accordance with the provisions of the Act. However, any exemption or tax concession wrongly claimed in the returns of income filed by the tax payers are

Posted in Income Tax | 11520 Views

Revision of monetary limits for filing of appeals by the Department before the ITAT

16 July 2014 at 10:27

Instruction No. 5/2014 - Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and Supreme Court - measures for reducing litigation. To read further in details, find the attachment enclo

Posted in Income Tax | 1 comments | 16284 Views

Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department

05 July 2014 at 13:19

Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department in the Supreme Court and related matters: instructions regarding- Revised Proforma B to Instruction No.4/2011 dated 09.03.2011 Detailed infor

Posted in Income Tax | 1 comments | 21303 Views

A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

05 July 2014 at 13:19

A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can log on to: https://incometaxindiaefiling.gov.i

Posted in Income Tax | 5 comments | 32013 Views

New versions of forms released by MCA

24 June 2014 at 11:29

Version of the forms INC-1, INC-2, INC-22, FC-2, FC-3, SH-8, CHG-1, DIR-12, INC-21, MGT-14, INC-23, INC-28, MR-1, MR-2, SH-7 and FC-4 are likely to change w.e.f 24th June 2014. You are requested to plan accordingly.

Posted in Income Tax | 2 comments | 6885 Views

New Password for official e-Mail to all Users of the Income Tax Department

18 June 2014 at 11:34

This is to bring to your kind notice that the official e-mail of Income Tax Department has been migrated to an upgraded version requiring better security. For this, a new Password

Posted in Income Tax | 8 comments | 40074 Views

Tax Administration Reform Commission (TARC) submitted its First report to the Finance Minister on 30th May 2014

17 June 2014 at 11:43

Tax Administration Reform Commission (TARC) submitted its First report to the Finance Minister on 30th May 2014 Please find the attached file.

Posted in Income Tax | 1 comments | 12777 Views

Cost inflation index for FY 2014-15 is 1024

16 June 2014 at 11:40

GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUECENTRAL BOARD OF DIRECT TAXESNOTIFICATIONINCOME-TAXNew Delhi, the 11th June, 2014 S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the In

Posted in Income Tax | 6 comments | 27045 Views