Income Tax News

Period of validity of approvals issued under Section 10 (23C) (iv), (v), (vi) or (via) and Section 80G (5) of the IT Act-clarification reg.

29 October 2010 at 11:52

Period of validity of approvals issued under Section 10 (23C) (iv), (v), (vi) or (via) and Section 80G (5) of

Posted in Income Tax | 2 comments | 10839 Views

Income Tax Demand of Rs.11,218 Crore Raised on Vodafone

22 October 2010 at 17:16

Income Tax Demand of Rs.11,218 Crore Raised on Vodafone The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1)

Posted in Income Tax | 5 comments | 10323 Views

Net Direct Tax Collections Register 19.09% Growth

20 October 2010 at 11:15

Net Direct Tax Collections Register 19.09% Growth Net direct tax collections during the period April-September 2010 stood at Rs.1,81,758 crore, up from Rs.1,52,625 crore in the same period last fiscal, registering a growth of 19.09 percent in H-

Posted in Income Tax | 4380 Views

E-Filing for AY 10-11: Quick Statistics (as on 15th October 2010)

19 October 2010 at 10:51

E-Filing for AY 10-11: Quick Statistics (as on 15th October 2010) HIGHLIGHTS OF e-FILING SEASON AY 10-11 ( up to 15/10/2010) (1) COMPARATIVE PROGRESS OF e-FILING OF RETURNS Form Type

Posted in Income Tax | 3 comments | 9600 Views

Common errors found while processing ITR 4, 5 and ITR 6 for AY 2009-10

19 October 2010 at 10:35

Common errors found while processing ITR 4, 5 and ITR 6 for AY 2009-10 Please download the list of the most common errors made by taxpayers while E-filing their I-T returns in ITR 4, 5, 6. It may be clearly noted that the variation in tax or i

Posted in Income Tax | 2 comments | 9375 Views

Direct Taxes Committee of the ICAI invites suggestions for the Pre-Budget Memorandum

18 October 2010 at 13:52

Direct Taxes Committee of the ICAI invites suggestions for the Pre-Budget Memorandum Since Direct Taxes Code Bill, 2010 has already been introduced in the Parliament, it is, expected that the Finance Bill to be introduced in February, 2011 wou

Posted in Income Tax | 3780 Views

Requirement of using encrypted PAN on DSC for non-resident signatories of Foreign Companies relaxed

05 October 2010 at 10:06

Requirement of using encrypted PAN on DSC for non-resident signatories of Foreign Companies relaxed An amendment to Rule 12 of the Income-tax Rules, 1962 vide notification no. 49 dated 9th July,2010 made it mandatory for all Companies (including

Posted in Income Tax | 8484 Views

New validation for quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards. Amended file format and FVU version 3.0 and 2.129

02 October 2010 at 12:44

New validation for quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards. Amended file format and FVU version 3.0 & 2.129 A. Procedure for preparation of return Deductors' Manual for quarterly returns Dos and Don’ts fo

Posted in Income Tax | 4 comments | 25572 Views

Views and Suggestions on the Direct Taxes Code Bill, 2010

01 October 2010 at 10:21

Views and Suggestions on the Direct Taxes Code Bill, 2010 Sub: The Direct Tax Code Bill, 2010 – Formulation of Institute’s views for submission to the Hon’ble Parliamentary Standing Committee on Finance As you are aware,

Posted in Income Tax | 2 comments | 10938 Views

Tax Structure for Food Processing Industries

29 September 2010 at 09:49

Tax Structure for Food Processing Industries The Government has taken necessary steps to rationalize and simpli

Posted in Income Tax | 17217 Views