Income Tax News

Tax collection targets for the current financial year increased

24 January 2011 at 10:09

Tax collection targets for the current financial year increased; FM calls for more focus on increasing service tax collections; Shri Pranab Mukherjee addresses review meeting of CBDT/CDEC in Chennai. Finance Minister Shri Pranab Mukherjee ha

Posted in Income Tax | 6543 Views

ICAI submits its suggestions on the Direct Taxes Code Bill, 2010 to the Parliamentary Standing Committee on Finance

14 January 2011 at 11:32

ICAI submits its suggestions on the Direct Taxes Code Bill, 2010 to the Parliamentary Standing Committee on Finance

Posted in Income Tax | 8874 Views

Rejection of TDS/TCS statements - Common errors and course of action

29 December 2010 at 11:41

Rejection of TDS/TCS statements Common errors and course of action a. What is course of action in case a regular statement is rejected? A. Please refer to Course of action regular rejection for the common causes for rejection of

Posted in Income Tax | 4 comments | 22632 Views

List of Notified Industrial Parks, CBDT

15 December 2010 at 11:43

List of Notified Industrial Parks, CBDT

Posted in Income Tax | 5766 Views

CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

15 December 2010 at 10:17

CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acqui

Posted in Income Tax | 4947 Views

Processing of ITR-I and ITR-2 returns - credit for tax deducted at source for A.Y. 2009-10 - clarification regarding

14 December 2010 at 12:09

Processing of ITR-I and ITR-2 returns – credit for tax deducted at source for A.Y. 2009-10 – clarification regarding. INSTRUCTION NO. 9/2010 [F. NO. 225/25/2010/IT (A-II)] DATED 9-12-2010 1. Reference may be made to Board’s

Posted in Income Tax | 7353 Views

Parameters for processing of E-TDS Returns - issuance of instruction - regarding

14 December 2010 at 12:08

Parameters for processing of E-TDS Returns – issuance of instruction – regarding INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)] DATED 8-12-2010 In the present system of processing of e-TDS returns, the returns are processed onl

Posted in Income Tax | 7011 Views

CPC Bangalore commences issue of refunds for AY 2010-11 returns

13 December 2010 at 12:08

CPC commences issue of refunds for AY 2010-11 returns. Centralized Processing Center (CPC), Bangalore has begun processing of returns for AY 2010-11. Till 10/12/2010 it has processed over 15 lakh e-filed returns of AY 2010-11 in ITRs 1, 2, 3, 4 an

Posted in Income Tax | 6 comments | 9783 Views

CPC Bangalore - New facility for online submission

07 December 2010 at 11:53

Department introduces new facility for online submission of rectification request in cases where processing was completed by CPC Bangalore. Please review the guide for common errors to first rectify the return submitted and generate the rectificat

Posted in Income Tax | 5 comments | 22338 Views

IT Department is releasing 3 new services on the e-filing website

29 November 2010 at 12:03

Income Tax Department is releasing 3 new services on the e-filing website Income Tax Department is releasing 3 new services on the e-filing website. These are available from the 'Services' menu on the Menu Bar on top. The services are av

Posted in Income Tax | 4 comments | 22356 Views