Income Tax News

New TAXNET Project 2013

14 May 2012 at 11:25

The TAXNET Project (WAN & LAN) of Income Tax Department (ITD), operational from 2008, includes MPLS network (including 155 VSAT locations) at more than 700 locations spread in more than 500 cities across the country. The Department has now emb

Posted in Income Tax | 7755 Views

Guidelines for engagement of Standing Counsels to represent the Income-tax Department before High Courts and other judicial forums

14 May 2012 at 11:24

INSTRUCTION NO. 3/2012, [F. NO. 279/MISC./M-75/2011-ITJ] DATED 11-4-2012 To, AllChief Commissioners of Income Tax, All Director Generals of Income Tax Sub : Guidelines for engagement of Standing Counsels to represent the Income-tax Departmen

Posted in Income Tax | 10521 Views

IT Evasion of Builders

14 May 2012 at 11:24

The Income Tax Department conducts search, seizure and survey operations based on credible information relating to ‘persons’ which includes individuals, Hindu undivided families (HUFs), firms, companies, association of persons (AoPs),

Posted in Income Tax | 1 comments | 4602 Views

The online submission of ITR-1 (SAHAJ) and ITR-4S (SUGAM) for AY 2012-13 has been enabled

09 May 2012 at 17:45

The online submission of ITR-1 (SAHAJ) & ITR-4S (SUGAM) for AY 2012-13 has been enabled

Posted in Income Tax | 3 comments | 28728 Views

No Case of Data Leak and Refund Frauds Detected Due to Outsourcing of Infotech Functions by IT Department

09 May 2012 at 11:49

The 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

Posted in Income Tax | 5250 Views

Value of Assets Seized in Searches Conducted by Income Tax Department Stood at Rs. 905.61 Crore in 2011-12

09 May 2012 at 11:49

The 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

Posted in Income Tax | 4860 Views

The online submission of ITR-1 (SAHAJ) for AY 2012-13 has been enabled

08 May 2012 at 10:58

The online submission of ITR-1 (SAHAJ) for AY 2012-13 has been enabled

Posted in Income Tax | 1 comments | 10929 Views

Opening Remarks by FM on Finance Bill 2012

07 May 2012 at 17:28

Opening 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

Posted in Income Tax | 5709 Views

Income -Tax (5th Amendment) Rules, 2012- Insertion of Rule F

07 May 2012 at 10:08

NOTIFICATION 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

Posted in Income Tax | 10173 Views

Advisory Group for International Taxation and Transfer Pricing Constituted

03 May 2012 at 15:37

An 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

Posted in Income Tax | 1 comments | 7266 Views