Income Tax News

India Signs an Agreement and Protocol for Avoidance of Double Taxation and Prevention of Fiscal Evasion (DTAA) with Lithunia

27 July 2011 at 10:08

The Government of India today signed an Agreement and Protocol for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital (DTAA) with Government of Lithuania. The Agreement and the Protocol

Posted in Income Tax | 3000 Views

Exemption from requirement of furnishing return of income for A.Y. 2011-12 where income does not exceed Rs. 5 lakhs - Assessee has option to avail said exemption

26 July 2011 at 17:26

ORDER [F.NO. 142/09/2011-SO(TPL)] DATED 25-7-2011 The Central Board of Direct Taxes had exempted a certain class of persons from the requirement of furnishing a Return of income under sub-section (1) of section 139 of the Income-tax Act, 1961 fo

Posted in Income Tax | 9102 Views

A Handbook on 'The Process of E-filing of Income Tax Returns'

26 July 2011 at 12:26

A Handbook on "The Process of E-filing of Income Tax Returns"

Posted in Income Tax | 2 comments | 6609 Views

Speech of Hon'ble President and FM On the occasion of closing ceremony-completing 150 years of Income Tax Department in India

16 July 2011 at 12:53

SPEECH OF THE HON'BLE PRESIDENT OF INDIA, SMT. PRATIBHA DEVISINGH PATIL ON THE OCCASION OF THE CONCLUDING CEREMONY OF THE YEARLONG CELEBRATIONS COMMEMORATING 150 YEARS OF INCOME TAX IN INDIA Vigyan Bhawan, New Delhi, 15th July 2011 Ladies an

Posted in Income Tax | 1 comments | 6261 Views

Direct Tax Collections Account for More than 56 Percent of the Total Revenue Collections

16 July 2011 at 10:14

Direct Tax Coleections Account for More than 56 Percent of the Total Revenue Collections ; Direct Tax Collections Rs 4,46,000 Crore in 2010-11; Governments Thrust on Upgrading and Induction of New Technology in the Services Rendered by i

Posted in Income Tax | 1 comments | 9978 Views

Digital Signature Certificate made mandatory w.e.f 1st July 2011 for Firms and Individuals

13 July 2011 at 10:25

Digital Signature Certificate made mandatory w.e.f 1st July 2011 for Firms and Individuals whose accounts are required to be audited u/s 44 AB of the Income Tax Act' 1961. Click here to download notification no. S.O. 1497(E) dated 1st July 201

Posted in Income Tax | 1 comments | 19281 Views

Check your tax credits in 26AS statement before filing IT return for faster processing and quick refunds

08 July 2011 at 17:02

Income Tax Department facilitates a PAN holder to view its Tax Credit Statement (Form 26AS) online. Form 26AS contains Details of tax deducted on behalf of the taxpayer by deductors Details of tax collected on

Posted in Income Tax | 3 comments | 75003 Views

Gross Direct Tax Collections during the First Quarter of Current Fiscal (April-June, 2011)

08 July 2011 at 10:13

Gross Direct Tax Collections during the First Quarter of Current Fiscal (April-June,2011) up by 23.91 percent ; Rise to Rs.1,04,136 Crore as against Rs 84,041 Crore during the Same Period in Last Fiscal Gross direct tax collections during the fi

Posted in Income Tax | 3555 Views

Firm or individual/HUF required to file ITR-5 or ITR-4 electronically using digital signature covered under section 44AB

02 July 2011 at 11:00

Income-tax (Sixth Amendment) Rules, 2011- Amendment in Rule 12 NOTIFICATION NO. 37/2011 [F. NO. 149/68/2011-SO (TPL)] DATED 1-7-2011 In exercise of the powers conferred by section 295, read with section 139 of the Income-tax Act, 1961 (43 of

Posted in Income Tax | 8 comments | 15372 Views

Constitution of New Dispute Resolution Panel (DRP) at Delhi in Partial Modification of Order No 4/FT&TR/2011

28 June 2011 at 16:23

Constitution of New Dispute Resolution Panel (DRP) at Delhi in Partial Modification of Order No 4/FT&TR/2011, Dated 23-5-2011 u/s 144C of the IT Act, 1961 ORDER NO. 5/FT&TR/2011 [F.NO. 500/15/2011-FTD-1] DATED 27-6-2011 In parti

Posted in Income Tax | 5565 Views