Income Tax News


Return filing date extended to 31st Aug from 31st July for AY 15-16

   12 June 2015 at 11:24

F.No.225/154/2015/ITA.II Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, ITA.II pisionNew Delhi, the 10th June, 2015. Order under section 119 of the Income-tax Act 1961Subject:- Extension of due da

Posted in Income Tax  7 comments |   29196 Views


Clarifications on Rollback Provisions of Advance Pricing Agreement Scheme

   12 June 2015 at 11:19

Circular No. 10/2015F.No. 500/7/2015-APA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesForeign Tax and Tax Research Division-IAPA-II SectionNew Delhi, dated 10th June, 2015Subject: Clarifications on Rollbac

Posted in Income Tax |   9891 Views


Indirect tax collection increases by 37% in May 2015

   11 June 2015 at 10:48

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 36,408 Crore in May 2014 to Rs. 49,993 Crore During May 2015 An Increase of 37.3 % Registered During the Month of May 2015 over the Corresponding Period in the Previous Year; Central E

Posted in Income Tax  2 comments |   13848 Views


CBDT Clarifies Regarding Prosecution of Tax Evaders

   09 June 2015 at 10:50

CBDT Clarifies Regarding Prosecution of Tax Evaders; Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary T

Posted in Income Tax  2 comments |   12045 Views


ITR 1,2 and 4S simplified for convenience of taxpayers

   01 June 2015 at 08:36

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers; A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Inco

Posted in Income Tax  7 comments |   23769 Views


FM exhorts senior tax officers to be prompt in redressing grievance of taxpayers

   26 May 2015 at 10:42

Finance Minister Shri Arun Jaitley Exhorts the Senior Officers of Income Tax Department to be Prompt in Redressing the Grievances of the Tax Payers, Expand the Tax Base in a Non-Intrusive Manner while Striving to Achieve the Revenue Generation Target

Posted in Income Tax  2 comments |   8832 Views


Grievances relating to verification and correction of demand outstanding against taxpayers

   21 May 2015 at 10:30

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes 19th May, 2015 Press Release Subject: Grievances relating to verification and correction of demand outstanding against taxpayers. The Income Tax Department ha

Posted in Income Tax  3 comments |   12876 Views


Committee formed to examine MAT on FIIs

   21 May 2015 at 10:30

High Level Committee (HLC) Headed by Justice A.P. Shah on Direct Tax Matters Constituted; Committee to Examine the Matter Relating to Levy of MAT on FIIS for the Period Prior to 01.04.2015 among others; Committee Requested to give its recommendations

Posted in Income Tax |   8061 Views


Gross tax collection stands at 12.45 lac crore

   18 May 2015 at 10:27

Government betters its own Financial Targets During 2014-15; Fiscal Deficit for the Financial Year 2014-15 stands at 4.0 % as against the Target of 4.1 % while Revenue Deficit for FY 2014-15 stands at 2.8% as Against Target of 2.9% ;Gross Tax Collect

Posted in Income Tax  1 comments |   9024 Views


Direct taxes worth Rs 6.95 lac crore collected during 2014-15

   13 May 2015 at 10:32

Direct Taxes worth Rs. 6,95,988 Collected Druing 2014-15; Direct Taxes Contribute more than 56% to total Central Taxes During 2013-14 and 2014-15 The Revised Estimates and actual collections of Direct Taxes for the last three years are as under:

Posted in Income Tax  2 comments |   10398 Views



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