Income Tax News

Direct Tax Collections During FY 2011-12 Up by 13.02 Percent at Rs. 5,90,077 Crore as Against Rs 5,22,104 Crore During Financial Year 2010-11

07 June 2012 at 16:05

Direct Tax Collections During Financial Year 2011-12 Up by 13.02 Percent at Rs. 5,90,077 Crore as Against Rs 5,22,104 Crore During Financial Year 2010-11 Gross direct tax collections during April-March of the F.Y. 2011-12 was up by 13.02 percent

Posted in Income Tax | 3 comments | 8373 Views

Clarification Regarding Reopening of Completed Assessments on Accounts of Clarificatory Amendments Introduced by Finance Act, 2012

01 June 2012 at 11:37

The Finance Act, 2012 has introduced certain clarificatory amendments in section 2 clause (14), Section 2 clause (47), Section 9 and Section 195, of the Income Tax Act, 1961 ("Act"), with retrospective effect from 01.04.1962 or 01.04.197

Posted in Income Tax | 7572 Views

Pranab Mukherjee Issues clarification on Retrospective Amendment and Transfer Pricing

30 May 2012 at 15:43

Statement of Union Finance Minister, Shri Pranab Mukherjee Regarding Issues of Retrospective Amendment and Transfer Pricing On the issue of retrospective amendment, Union Finance Minister, Shri Pranab Mukherjee has said that he had given a commi

Posted in Income Tax | 12138 Views

Biggest IT dept in India to be inaugurated by FM today

30 May 2012 at 10:33

Union Finance Minister, Shri Pranab Mukherjee will inaugurate the biggest office building of the Income tax Department in India tomorrow. The building will house the offices of salary charges, non-corporate charges, International Taxation, Exempti

Posted in Income Tax | 1 comments | 11568 Views

Income-tax (6th Amendment) Rules, 2012 -Insertion of Rule 10AB

28 May 2012 at 11:36

NOTIFICATION NO. 18/2012 [F. NO. 142/5/2012-TPL] DATED 23-5-2012 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend t

Posted in Income Tax | 23970 Views

Finance Act, 2011 - Explanatory notes to the provisions of the Finance Act, 2011

24 May 2012 at 12:18

CIRCULAR NO. 02/2012 [F. NO.142/01/2012-SO(TPL)], DATED 22-5-2012 Finance Act, 2011 - Explanatory notes to the provisions of the Finance Act, 2011 Amendments at a Glance Section/Schedule Particulars/Paragraph number

Posted in Income Tax | 1 comments | 12909 Views

Results Framework Document (RFD) for the financial year 2012-13

24 May 2012 at 12:16

The Income Tax Department, Results Framework Document (RFD) for the financial year 2012-13 duly approved by the Finance Minister.

Posted in Income Tax | 7923 Views

Upgraded Official Email System of the Income Tax Department

24 May 2012 at 12:16

Upgraded Official Email System of the Income Tax Department

Posted in Income Tax | 10830 Views

Increase in Number of Tax Payers

16 May 2012 at 12:47

The number of effective income tax assesses as well as the number of registered Central Excise and Service Tax assesses during the years 2006-07 to 2010-11 are as under: Financial Year Income Tax Assesses

Posted in Income Tax | 3 comments | 12246 Views