Income Tax News

Indirect tax collection increases by a modest 4.5 percent

25 July 2014 at 11:16

Indirect Tax Revenue (Provisional) Collections During April-June 2014 Increase from Rs 1,08,639 Crore to Rs.1,13,570 Crore Registering an Increase of 4.5 % over the Corresponding Period in last Financial Year The overall growth in Indirect Tax Reve

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ITR 6 efiling utility released for AY 14-15

25 July 2014 at 11:16

ITR 6 can be used by a company, other than a company claiming exemption under section 11. To know further in details, find the enclosed attachment

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Income Tax department to remain open on 26th July and 27th July 2014

24 July 2014 at 18:10

F.No.225/121/2014/ITA.IIGovernment of IndiaMinistry of FinanceCentral Board of Direct Taxes New Delhi, the 24th July, 2014Order under Section 119(1) of the Income tax Act,1961. The due date for filing of return of income within the meaning of Explana

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FM asks Income tax officers to use non intrusive methods of investigation

24 July 2014 at 11:42

Finance Minister Asks Officers of Income Tax Department to Maximise the Use of Non Intrusive and Innovative Methods of Investigation; Calls for Training for Upgradation of Skills and Need for Capacity Building The Union Finance Minister, Shri Arun J

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FM confident of exceeding Direct Tax Revenue Target

22 July 2014 at 14:16

Revenue Targets Fixed for Direct Taxes for the Current Financial Year 2014-15 would not only be Achieved but would be Surpassed: FM The Union Finance Minister Shri Arun Jaitley hoped that the revenue targets fixed for Direct Taxes for the current Fi

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Instructions for filing wealth tax returns

19 July 2014 at 18:39

INSTRUCTIONS FOR FILLING UP RETURN OF NET WEALTH (FORM BB)(To be detached before filing the return in a paper form) This form is to be filled up by all wealth-tax assessees [individual, Hindu Undivided Family (HUF) or company]. This form is applicabl

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Irregularities in Providing Tax Concession

19 July 2014 at 18:39

Exemptions and tax concessions under the Income-tax Act, 1961 (‘Act’) are provided in accordance with the provisions of the Act. However, any exemption or tax concession wrongly claimed in the returns of income filed by the tax payers are

Posted in Income Tax | 11532 Views

Revision of monetary limits for filing of appeals by the Department before the ITAT

16 July 2014 at 10:27

Instruction No. 5/2014 - Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and Supreme Court - measures for reducing litigation. To read further in details, find the attachment enclo

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Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department

05 July 2014 at 13:19

Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department in the Supreme Court and related matters: instructions regarding- Revised Proforma B to Instruction No.4/2011 dated 09.03.2011 Detailed infor

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A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

05 July 2014 at 13:19

A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can log on to: https://incometaxindiaefiling.gov.i

Posted in Income Tax | 5 comments | 32028 Views