Income Tax News

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit

21 March 2011 at 12:11

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax – Systems)

Posted in Income Tax | 7 comments | 17052 Views

New validation for quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards. Amended file format and FVU version 3.1 and 2.130 released

21 March 2011 at 12:11

New validation for quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards. Amended file format and FVU version 3.1 & 2.130 released (March 18, 2011) A. Procedure for preparation of return Deductors' Manual for quarterly retur

Posted in Income Tax | 13182 Views

Acceptance of e-TDS/TCS statements in Pen Drive

18 March 2011 at 17:53

Acceptance of e-TDS/TCS statements in Pen Drive 1. Submission of e-TDS/TCS statement has been enabled in Pen Drive in addition to the existing option of CD. 2. Deductors /Collectors are advised to check the feasibility of accepta

Posted in Income Tax | 5 comments | 13377 Views

Streamlining procedure for scrutiny of income-tax returns

15 March 2011 at 11:18

Streamlining procedure for scrutiny of income-tax returns No.402/92/2006-MC (07 of 2011) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi dated the 14th March 2011 Streamlining procedu

Posted in Income Tax | 1 comments | 10773 Views

Update on Centralized Processing Center (CPC) - Call Center

12 March 2011 at 12:27

Update on CPC - Call Center To assist taxpayers a call center with 20 agents provides customer service and support for resolution of taxpayers queries. It provides information and updates on the following: Status of receipt of ITR-V at CPC Pro

Posted in Income Tax | 5 comments | 20232 Views

Chairman CBDT's Messages - Refund cases not yet entered on the system

11 March 2011 at 16:48

Chairman CBDT's Messages Casual & cavalier attitude Refund cases not yet entered on the system All the CCITs, including the CCITs (CCA), were advised by the Board on Feb 28 & again on March 05 11 to provide data regarding paper

Posted in Income Tax | 8898 Views

8 New ITOUs to be Operationalised in Next Fiscal

11 March 2011 at 16:37

8 New ITOUs to be Operationalised in Next Fiscal The Minister of State for Finance, Shri S.S. Palanimanickam, in written reply to a question raised in Lok Sabha today, said that the Government has taken steps to operationalise 8 new Income Tax O

Posted in Income Tax | 6003 Views

Income-tax (First Amendment) Rules, 2011 - Amendment in rules 6DDA, 6DDB and Appendix-II

11 March 2011 at 12:27

Income-tax (First Amendment) Rules, 2011 - Amendment in rules 6DDA, 6DDB and Appendix-II NOTIFICATION NO. 14/2011 [F. NO. 142/25/2008-SO(TPL)] DATED 9-3-2011 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 o

Posted in Income Tax | 22206 Views

Sevottam Kendra of Income Tax, Kochi gains critical mass

10 March 2011 at 11:17

Sevottam Kendra of Income Tax, Kochi gains critical mass The Sevottam Centre, Kochi which had become operational from August 2009 has come of age and has attained critical mass now. Out of the total Dak of 13692 received, 11742 nos have been res

Posted in Income Tax | 4500 Views

Net Direct Tax Collections during April-February-2011 Increase to Rs. 3,36,177

10 March 2011 at 10:43

Net Direct Tax Collections during April-February-2011 Increase to Rs. 3,36,177 Crore, up by 20.75 Percent Net direct tax collections during the period April-February 2011 stood at Rs.3,36,177 crore, up from Rs.2,78,411 crore in the same period d

Posted in Income Tax | 1 comments | 3081 Views