Income Tax News

Who is who of Retail Sector speaks their "heart out"!!

08 February 2008 at 20:27

N V Sivakumar, leader, retail practice, PricewaterhouseCoopers · Retail sector has not been fully liberalised - Foreign equity participation should be extended, especially in a situation where most foreign retailers are sensitive to the pr

Posted in Income Tax | 2682 Views

UPA, Left desires: Budget for the masses- "aam aadmi budget".

08 February 2008 at 20:27

The UPA government and its Left allies agreed on Thursday that the coming Budget should be an 'aam aadmi' Budget. According to leaders of the coalition government present at the meeting, the wish lists of the UPA partners and the Left allies mor

Posted in Income Tax | 2301 Views

Tax Administrtation Intakes IT Facility : Government

08 February 2008 at 16:03

Tax Administrtation Intakes IT Facility : Government India ranks165th, as placed by a World Bank-IFC-PricewaterhouseCoopers study called Paying Taxes, 2008. India's ranking, measured on the basis of ease of paying taxes, was marginally b

Posted in Income Tax | 2436 Views

Income Tax Surveys in full swing

08 February 2008 at 10:14

Income Tax Department had recently carried out a search operation against a group of Gurgaon engaged in development of real estate and running a private airline. On the basis of evidence collected during that search, surveys were subsequently conduct

Posted in Income Tax | 1 comments | 5070 Views

Charitable Trusts under Finance Minister's Scrutiny

07 February 2008 at 16:30

Charitable Trusts under Finance Minister's Scrutiny The government is considering a proposal to redefine and narrow the concept of "charitable activity" to ensure that only deser

Posted in Income Tax | 4254 Views

Extension of limits in a Bewildered State: Budget

06 February 2008 at 13:13

With the last full-fledged Budget of the UPA government, Finance minister P Chidambaram might spread cheer all around with Budget 2008-09. A hike in the income-tax exemption limit from Rs 1,10,000 to Rs 1,25,000., a higher ceiling for tax-saving in

Posted in Income Tax | 4074 Views

Quarterly TDS return due date extended-CBDT

06 February 2008 at 13:01

The Central Board of Direct Taxes have extended the due date for filing of quarterly statements of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for the quarter ending 30th September 2007 of financial year 2007-08 to 29th February 20

Posted in Income Tax | 1 comments | 33015 Views

Tax Dept to use identity-search software to prevent evasion

05 February 2008 at 20:16

Tax Dept to use identity-search software to prevent evasionThe Income Tax Department is gearing up to use identity-search technology to manage the swelling data base of taxpayers, a move that will make tax evasion difficult and bring to book habitual

Posted in Income Tax | 3534 Views

Due dates of filing IT returns may be preponed...

05 February 2008 at 19:53

Both salaried individuals and companies i.e direct tax payers may require to file income tax returns two months in advance says the finance minister. The modification may bring the due date from 31st July to May 31st."For salaried and other individua

Posted in Income Tax | 2 comments | 8013 Views

TAX BREAKS MAY BE GRANTED TO GREEN BUILDERS: UPCOMING BUDGET

05 February 2008 at 15:58

"GOOD NEWS FOR THE GREEN BUILDERS" Tax breaks may be granted to Real estate developers constructing energy-efficient (green) buildings in the coming Budget. If the buildings meet the "green" standard, a part of the builders' c

Posted in Income Tax | 3003 Views