Income Tax News

Direct tax collections register growth of 3.71%

03 December 2009 at 10:40

Direct tax collections register growth of 3.71% till NovemberNet direct tax collections during first eight months of the present fiscal (up to November 2009) stood at Rs.1,83,822 crore, up from Rs.1,77,251 crore in the same period last fiscal, regis

Posted in Income Tax | 1 comments | 4851 Views

CBDT issues clarification on procedure for remittances abroad

01 December 2009 at 10:30

CBDT issues clarification on procedure for remittances abroad by diplomatic missionsThe Government has clarified that while remitting consular receipts abroad, diplomatic missions in India will be required to submit only a self certified undertaking

Posted in Income Tax | 2 comments | 12552 Views

Remittances to non-residents under section 195 of the Income

30 November 2009 at 15:30

Remittances to non-residents under section 195 of the Income-tax Act �� remittances of Consular receipts - clarification regCIRCULAR NO 9/2009Dated: November 30, 2009Subject:- Remittances to non-residents under section 195 of the Income-t

Posted in Income Tax | 5 comments | 9636 Views

Constitution of DRPs in eight cities notified

24 November 2009 at 12:32

Constitution of DRPs in eight cities notifiedCentral Board of Direct Taxes has notified rules to regulate the procedure of the Dispute Resolution Panel (DRP) constituted under section 144C of the Income Tax Act, 1961 inserted by the Finance Act 2009.

Posted in Income Tax | 1 comments | 5979 Views

Income-tax (Dispute Resolution Panel) Rules, 2009

23 November 2009 at 19:32

Income-tax (Dispute Resolution Panel) Rules, 2009 Notification No. 84/2009[S.O. 2958(E)/F.No. 142/22/2009-TPL]Dated 20-11-2009In exercise of the powers conferred by sub-section (14) of section 144C of the Income-tax Act, 1961 (43 of 1961), the Centra

Posted in Income Tax | 3 comments | 7887 Views

Income Tax Raids

21 November 2009 at 10:57

The Income Tax Department, assisted by the Enforcement Directorate, has conducted searches and seizure operation recently in various States of the country. Various lockers, bank accounts and premises are under propitiatory orders as per the provision

Posted in Income Tax | 12546 Views

Direct tax collection rises

05 November 2009 at 16:20

Direct tax collection risesNet direct tax collections during the first seven months of the present fiscal (upto October 2009) stood at Rs 1,73,447 crore, up from Rs 1,66,905 crore in the same period last fiscal, registering a growth of 3.92 percent,

Posted in Income Tax | 1 comments | 7245 Views

Government discussing suggestions of stakeholders to modify Direct Tax Code: FM

05 November 2009 at 14:09

Government discussing suggestions of stakeholders to modify Direct Tax Code: FM AREAS OF CONCERN IDENTIFIED FINANCE MINISTER ADDRESSES PARLIAMENTARY CONSULTATIVE COMMITTEE OF FINANCE MINISTRYGovernment would make all efforts to meet the aspiration

Posted in Income Tax | 2 comments | 5088 Views

Income Tax Department issues notice to Vodafone

31 October 2009 at 10:39

Income Tax Department issues notice to VodafoneThe Income Tax department has issued a detailed notice today (comprising 531 pages along with annexure running into 1901 pages) under section 201(1) and 201(1A) of the IT Act 1961 to Vodafone Internation

Posted in Income Tax | 2 comments | 20568 Views

Taxpayers can now view details of paid refund in their Annual Tax Statement

29 October 2009 at 11:52

Taxpayers can now view details of paid refund in their Annual Tax Statement (Form 26AS)Taxpayers who have registered to view Form 26AS online can view details of paid refund in their Form 26AS from F.Y. 2009-10 (A.Y. 2010-11) onwards. Refunds receive

Posted in Income Tax | 4 comments | 18159 Views