Income Tax News

Indirect Tax Provisional Revenue Collection Increases by 39.1%

11 August 2015 at 18:01

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 40,802 Crore in July 2014 to Rs. 56,739 Crore During July 2015 Registering an Increase of 39.1% During the Month of July 2015 Over the Corresponding Period in the Previous Year; Customs

Posted in Income Tax | 1 comments | 9249 Views

CBDT signs advance pricing agreements (APAs) to usher in certainty in taxation

07 August 2015 at 10:40

As a part of a major initiative to usher in certainty in taxation, the Central Board of Direct Taxes (CBDT) entered into two unilateral Advance Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies (MNCs) which includes the fi

Posted in Income Tax | 8391 Views

Measures taken by govt to simplify tax filings

01 August 2015 at 13:26

With a view of minimize the cost of compliance of the taxpayers, the Central Board of Direct Taxes (CBDT) has taken several measures to make tax payment and statutory filings simple and convenient for the taxpayer, including- � Online applicatio

Posted in Income Tax | 13707 Views

CBDT notifies new ITR forms 3,4,5,6 and 7

31 July 2015 at 10:59

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE[CENTRAL BOARD OF DIRECT TAXES]Income-taxNOTIFICATIONNew Delhi, the 29th day of July, 2015S.O. 207

Posted in Income Tax | 16422 Views

New initiatives in efiling and some testimonials

30 July 2015 at 10:47

Taxpayers have appreciated the new initiative of Electronic Verification ofthe Income Tax Return through Aadhaar linkage and Net-banking and thetestimonials affirm the user-friendliness and removal of the hassle ofsending the paper copy of the ITR-V

Posted in Income Tax | 1 comments | 8151 Views

Timely redressal of tax payer grievances and public service delivery

30 July 2015 at 10:46

Government of IndiaMinistry of Finance Department of Revenue Central Board of Direct TaxesGrievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Central Acti

Posted in Income Tax | 7905 Views

Due date of wealth tax return extended to 31st August

28 July 2015 at 10:17

F. No. 328/08/2015-WTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, dated the 27th July, 2015ToAll Pr. Chief Commissioners of Income TaxSubject : Extension of due date of filling Return of wealth fo

Posted in Income Tax | 3 comments | 14556 Views

Cost inflation index for 2015-16 is 1081

28 July 2015 at 10:17

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUECENTRAL BOARD OF DIRECT TAXESNOTIFICATIONINCOME-TAXNew Delhi, the 24th July, 2015S.O. 2031 (E)- In

Posted in Income Tax | 1 comments | 10842 Views

Simplification of ITR forms and issue of Pan cards

25 July 2015 at 17:02

The Government has simplified Income Tax Returns (ITR) Forms for individuals and HUFs not having business or professional income. In ITR Form No. 2 and 2A, the main form does not contain more than three pages and other information relevant for comput

Posted in Income Tax | 3 comments | 16455 Views

Commencement of Electronic Verification of Income Tax Returns for AY 2015-16

15 July 2015 at 10:23

To facilitate the taxpayers and to provide end-to-end e-enabled services, the Income Tax Return for A.Y. 2015-16 can now be verified electronically. A taxpayer may verify his return through Internet Banking or through Aadhar based authentication pro

Posted in Income Tax | 2 comments | 13863 Views