Income Tax News

CBDT Circular on application of profit split method

29 March 2013 at 11:55

CBDT Circular on application of profit split method Dated 26-3-2013 Circular No 2/2013

Posted in Income Tax | 1 comments | 17040 Views

Revision of Interest Rates for Small Savings Schemes With Effect from 1ST APRIL,2013

25 March 2013 at 16:42

Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial

Posted in Income Tax | 15129 Views

Special Measures to Facilitate Collection of Tax Receipts by the Banks on 29th, 30th and 31st March, 2013

23 March 2013 at 14:04

Keeping in view that 29th and 31st March, 2013 are notified Gazetted holidays and 30th March, 2013 is falling on a Saturday and the likely rush of tax payers towards the end of march, 2013, which could have inconvenienced the tax payers in deposit

Posted in Income Tax | 2 comments | 12162 Views

Drive Against Fake Pan Cards

16 March 2013 at 12:41

The Government has launched drive against fake Permanent Account Number (PAN) cards. As a continuous process, in order to know the genuineness of Know Your Customer (KYC) documents on Proof of Identity (POI) and Proof of Address (POA), third party

Posted in Income Tax | 5 comments | 26481 Views

Seizure of Illegal Assets under the Income-tax Act, 1961

16 March 2013 at 12:39

Seizure of Illegal Assets In the searches conducted by the Income Tax Department during F.Ys 2009-10, 2010-11, 2011-12 and 2012-13 (up to December, 2012), unexplained assets of about Rs. 963.50 crore, Rs.774.98 crore, Rs. 905.60 crore and Rs.453

Posted in Income Tax | 1 comments | 11565 Views

New ITR Filing Procedure

15 March 2013 at 16:55

The Government proposes to introduce new procedures/forms for filling Income Tax returns. Every year government notifies forms for filing of income-tax returns after incorporating the changes brought out by the Finance Act of the previous year and

Posted in Income Tax | 5 comments | 37395 Views

Filing of IT returns by tax payers for a.y. 2012-13 on 30th & 31st march

15 March 2013 at 10:47

SECTION 119 OF THE INCOME TAX ACT, 1961 INCOME TAX AUTHORITIES INSTRUCTIONS TO SUBORDINATE AUTHORITIES ORDER FOR FACILITATING FILING OF IT RETURNS BY TAX PAYERS FOR F.Y. 2012-13 ON 30th & 31st MARCH, 2013 ORDER [F. NO.

Posted in Income Tax | 5 comments | 21153 Views

IT Department Urges Taxpayers to Pay all Self-Assessment Tax Dues by 31ST March

13 March 2013 at 15:28

The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) revea

Posted in Income Tax | 2 comments | 14868 Views

Notice inviting proposals for selection of an implementation agency for a National Judicial Reference System (NJRS)

27 February 2013 at 11:52

The Income Tax Department intends to setup a web based „National Judicial Reference System (NJRS)‟ with the objective of improved litigation management. The NJRS will consist of a centralized, indexed and searchable repository of all direct

Posted in Income Tax | 4305 Views

Inauguration of Centralized Processing Cell (TDS) by Honorable Finance Minister Shri P. Chidambaram

27 February 2013 at 11:30

Honorable Union Finance Minister Shri P. Chidambaram dedicated the Centralized Processing Cell (TDS) at Aayakar Bhawan, Vaishali on 23rd February, 2013. The function was attended by Secretary (Revenue) Shri Sumit Bose, Secretary (Economic Affairs)

Posted in Income Tax | 8148 Views