Income Tax News


CBDT Invites Comments/Suggestions on Draft GAAR Guidelines

   29 June 2012 at 16:38

The Central Board of Direct Taxes (CBDT), Ministry of Finance has invited comments/suggestions on the Draft Guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of Section 101 of The Income Tax Act, 1961.The Draft GA

Posted in Income Tax  1 comments |   7773 Views


Clarification Regarding Draft GAAR Guidelines

   29 June 2012 at 10:45

Background The Chairman, CBDT, Vide OM F.NO. 500/111/2009-FTD-1 Dated 27 February, 2012 constituted a Committee under the Chairmanship of the Director General of the Income Tax (International Taxation) to give recommendations for formulating th

Posted in Income Tax  1 comments |   8889 Views


Details of Central Processing Centre (CPC)

   26 June 2012 at 11:31

In FY2012, CPC processed 1.32 crores returns, a 47% increase over FY 2011. Rectification requests received by CPC has dropped from over 10% of returns filed in AY08-09, to 6.5% in AY 09-10, to 3.8% in AY 10-11 and further to just about 2.9% in AY

Posted in Income Tax  6 comments |   23121 Views


Filling of online application form for ITO / ITI DE 2012

   26 June 2012 at 11:23

Filling of online application form for ITO / ITI DE 2012

Posted in Income Tax  1 comments |   25332 Views


Clarification regarding exemption from DE for ITIs

   26 June 2012 at 11:22

Clarification regarding exemption from DE for ITIs

Posted in Income Tax |   5715 Views


ICAI requests CBDT to review the ITR forms vis-a-vis Revised Schedule VI

   25 June 2012 at 11:32

The Ministry of Corporate Affairs (MCA) has notified the Schedule VI (Revised) which is applicable in respect of Balance Sheet and Profit and Loss Account prepared for the financial year commencing on or after 1.4.2011. The Revised Schedule VI had

Posted in Income Tax |   10884 Views


Extending due date for filing Form 49C for the Financial Year 2011-12 - regarding

   25 June 2012 at 11:31

F.No.225/124/2012/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 20thJune 2012. Order under Section 119 of the Income Tax Act, 1961- extending due date for filing Form 49C for th

Posted in Income Tax |   14772 Views


Adjustment Of Refunds Against Arrears: CBDT Circular

   25 June 2012 at 11:31

SECTION 119 OF THE INCOME-TAX ACT, 1961 - INCOME-TAX AUTHORITIES - INSTRUCTIONS TO SUBORDINATE AUTHORITIES - AUTHORIZATION OF AOs IN CERTAIN CASES TO RECTIFY/RECONCILE DISPUTED ARREAR DEMAND CIRCULAR NO. 4 OF 2012 DATED 20-6-2012 The Board has

Posted in Income Tax |   12015 Views


Special Deposit Scheme (SDS), 1975 - Revision of Rate of Interest

   16 June 2012 at 14:59

CIRCULAR DGBA. CDD. NO. H-7815/15.01.001/2011-12 DATED 6-6-2012 The Government of India has vide Notifications, as detailed below, notified revision in the interest rates on the deposits under the Special Deposit Scheme for Non-Government Pr

Posted in Income Tax  1 comments |   13914 Views


No TDS in certain cases u/s 197A- Software Acquisition

   15 June 2012 at 11:28

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 21/2012 [F.No.142/10/

Posted in Income Tax  2 comments |   17217 Views



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