Income Tax News


To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes

   08 September 2011 at 11:23

To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes, Procedures Innovative Ways of Taxation Especially Related to Cross Border Taxatio

Posted in Income Tax  1 comments |   4674 Views


Due date for submission of ITR-V extended

   08 September 2011 at 10:03

The due date for submission of ITR-V for A.Y. 2010-11 has been extended upto 31.10.2011 or 120 days from the date of upload whichever is later.

Posted in Income Tax  3 comments |   9588 Views


CBDT has issued instructions handling over of charge

   07 September 2011 at 11:52

CBDT has issued instructions handling over of charge

Posted in Income Tax |   3165 Views


Procedure for regulating refund of excess amount of TDS deducted and/or paid - Modification of Circular No. 2/2011, dated 27-4-2011

   26 August 2011 at 22:46

CIRCULAR NO. 6/2011 DATED 24-8-2011 In partial modification of Circular No. 2/2011, dated 27-4-2011, the following words are added at the end of paragraph 4.2 of the said circular. "However, the refund claims pertaining to the period upto

Posted in Income Tax  2 comments |   7305 Views


Income-tax deduction from salaries during the financial year 2011-2012 under section 192

   23 August 2011 at 15:43

CIRCULAR NO 05/2011 Dated: August 16, 2011 Reference is invited to Circular No.08/2010 dated 13.12.2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192

Posted in Income Tax  1 comments |   132558 Views


RBI and 926 branches to accept Advance Income Tax

   18 August 2011 at 11:25

As many as 926 computerised branches of public and private sector banks will receive advance income tax in Mumbai and Navi Mumbai. These arrangements have been made for the convenience of the income tax assesses. Of the 926 bank branches 862 branc

Posted in Income Tax |   5742 Views


Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN

   17 August 2011 at 13:05

Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN, rejection using consolidated file for the period April 1, 2011 to June 30, 2011 and percentage of TANs registered at TIN for the period August 1, 2010 to

Posted in Income Tax |   7929 Views


One Day Seminar on Direct Tax Code by ICWAI

   17 August 2011 at 12:23

The Institute of Cost and Work Accountant of India organized one day seminar on Direct tax Code the Draft of which released in August, 2009 for public comments. Since then, a number of valuable inputs on a proposals outlined in these documents have

Posted in Income Tax |   6156 Views


Instruction Regarding Standard Operating Procedure on Filing of Appeals to ITAT Under Section 253 and Related Matters

   16 August 2011 at 14:19

INSTRUCTIONS REGARDING STANDARD OPERATING PROCEDURE ON FILING OF APPEALS TO ITAT UNDER SECTION 253 AND RELATED MATTERS INSTRUCTION NO. 08/2011 [F NO. 279/MISC./M- 43/2011-ITJ], DATED 11-8-2011 With a view to streamline the process of filing app

Posted in Income Tax |   6624 Views


Gross Direct Tax Collections up by 26.63 Percent

   13 August 2011 at 12:05

Revised Press Release on Gross Direct Tax Collections:- up by 26.63 Percent and Stood at Rs.1,32,542 Crore during April-July,2011 Gross direct tax collections during the first four months of the current fiscal (April - July 2011) were up by 26.63

Posted in Income Tax  1 comments |   4017 Views



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