Income Tax News
No Case of Data Leak and Refund Frauds Detected Due to Outsourcing of Infotech Functions by IT Department
09 May 2012 at 11:49The outsourcing of infotech functions by the Income Tax (IT) Department has emerged after extensive discussions, rigorous evaluation and comprehensive examination by various authorities. Till now no instance has come to light of involvement of Ven
Value of Assets Seized in Searches Conducted by Income Tax Department Stood at Rs. 905.61 Crore in 2011-12
09 May 2012 at 11:49The Government has received a number of cases of information relating to remittances, payments and money held in foreign bank accounts etc. under the provisions of the DTAAs/TIEAs. Every reliable information, including information received from ou
The online submission of ITR-1 (SAHAJ) for AY 2012-13 has been enabled
08 May 2012 at 10:58The online submission of ITR-1 (SAHAJ) for AY 2012-13 has been enabled
Opening Remarks by FM on Finance Bill 2012
07 May 2012 at 17:28Opening Remarks made by the Finance Minister Shri Pranab Mukherjee at the beginning of the Discussion on Finance Bill 2012 The text of the Opening Remarks made by the Union Finance Minister Shri Pranab Mukherjee at the beginning of the discussio
Income -Tax (5th Amendment) Rules, 2012- Insertion of Rule F
07 May 2012 at 10:08NOTIFICATION NO. 16/2012 [F. NO. 149/72/2011-SO (TPL)] DATED 30-4-2012 In exercise of the powers conferred by clause (47) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby ma
Advisory Group for International Taxation and Transfer Pricing Constituted
03 May 2012 at 15:37An Advisory Group for International Taxation and Transfer Pricing has been constituted by Central Board of Direct Taxes , Department of Revenue, Ministry of Finance. The Group would comprise of the following members:- i. Revenue Secretary to
Clarification on Vodafone Tax Issue
02 May 2012 at 16:54A news report has appeared in the Financial Express, Delhi edition, 27th April, 2012 captioned “I-T didn’t warn Vodafone of tax burden or dispute deal format”. In this regard, the Central Board of Direct Taxes (CBDT) has issued t
MCA mandates updating of Income Tax PAN for obtaining DIN
02 May 2012 at 12:27General Circular No: 32/2011 dated 31/05/2011, 66/2011 Dated 4/10/2011, 70/2011 dated 15.12.2011 and 04/2012 dated 09.03.2012, Ministry of Corporate Affairs has mandated providing Income-tax Permanent Account Number (Income-tax PAN) for obtaining
Recovery of Arrears of Tax Demand of the Income Tax Department
28 April 2012 at 11:11Recovery of IT The C&AG conducted performance audit of Recovery of Arrears of Tax Demand of the Income Tax Department and the report Number 23 of 2011-12 was laid on the table of the Lok Sabha/Rajya Sabha on 16-12-2011. In the report, the C&a
Filling up the post of Registrar in the Competition Appellate Tribunal purely on deputation basis
20 April 2012 at 11:07Filling up the post of Registrar in the Competition Appellate Tribunal purely on deputation basis
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