Income Tax News

IRCS to Get benefits under Income Tax Act

27 September 2011 at 17:08

The Union Health Minister and Chairman of Indian Red Cross Society and St John Ambulance (India), Shri Ghulam Nabi Azad today presided over the General Body meeting of the two organizations on behalf of the President of India Smt. Pratibha Devisingh

Posted in Income Tax | 7044 Views

During April - August 2011, Gross Direct Tax Collections up by 25.89 Percent

09 September 2011 at 12:21

Gross direct tax collections during the first five months of the current fiscal (April - August 2011) were up by 25.89 percent at Rs.154,360 crore as against Rs.122,618 crore in the same period last fiscal. While gross collection of corporate taxe

Posted in Income Tax | 1 comments | 3996 Views

To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes

08 September 2011 at 11:23

To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes, Procedures Innovative Ways of Taxation Especially Related to Cross Border Taxatio

Posted in Income Tax | 1 comments | 4680 Views

Due date for submission of ITR-V extended

08 September 2011 at 10:03

The due date for submission of ITR-V for A.Y. 2010-11 has been extended upto 31.10.2011 or 120 days from the date of upload whichever is later.

Posted in Income Tax | 3 comments | 9594 Views

CBDT has issued instructions handling over of charge

07 September 2011 at 11:52

CBDT has issued instructions handling over of charge

Posted in Income Tax | 3168 Views

Procedure for regulating refund of excess amount of TDS deducted and/or paid - Modification of Circular No. 2/2011, dated 27-4-2011

26 August 2011 at 22:46

CIRCULAR NO. 6/2011 DATED 24-8-2011 In partial modification of Circular No. 2/2011, dated 27-4-2011, the following words are added at the end of paragraph 4.2 of the said circular. "However, the refund claims pertaining to the period upto

Posted in Income Tax | 2 comments | 7305 Views

Income-tax deduction from salaries during the financial year 2011-2012 under section 192

23 August 2011 at 15:43

CIRCULAR NO 05/2011 Dated: August 16, 2011 Reference is invited to Circular No.08/2010 dated 13.12.2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192

Posted in Income Tax | 1 comments | 132561 Views

RBI and 926 branches to accept Advance Income Tax

18 August 2011 at 11:25

As many as 926 computerised branches of public and private sector banks will receive advance income tax in Mumbai and Navi Mumbai. These arrangements have been made for the convenience of the income tax assesses. Of the 926 bank branches 862 branc

Posted in Income Tax | 5745 Views

Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN

17 August 2011 at 13:05

Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN, rejection using consolidated file for the period April 1, 2011 to June 30, 2011 and percentage of TANs registered at TIN for the period August 1, 2010 to

Posted in Income Tax | 7932 Views

One Day Seminar on Direct Tax Code by ICWAI

17 August 2011 at 12:23

The Institute of Cost and Work Accountant of India organized one day seminar on Direct tax Code the Draft of which released in August, 2009 for public comments. Since then, a number of valuable inputs on a proposals outlined in these documents have

Posted in Income Tax | 6159 Views