Income Tax News

Cost Inflation Index for F.Y. 2009-10

10 September 2009 at 10:20

Cost Inflation Index for F.Y. 2009-10Notification No. 67/2009Dated 9-9-2009In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following

Posted in Income Tax | 15 comments | 17880 Views

Modifications in the e-TDS/TCS data structure and new File Validation Utility

05 September 2009 at 11:47

Modifications in the e-TDS/TCS data structure and new File Validation Utility applicable from October 1, 2009The data structure of quarterly e-TDS / TCS statements has been modified by the Income Tax Department to incorporate certain additional field

Posted in Income Tax | 6 comments | 25302 Views

Constitution of a Committee to examine the suggestion on DT Codes

04 September 2009 at 12:31

Constitution of a Committee to examine the suggestions on the draft Direct Taxes CodeF.No. 402/78/2009-ITCCGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesDated : August 28, 2009Sub : Constitution of a Committe

Posted in Income Tax | 4812 Views

Direct tax collections register 4.12 % growth in first 5 mnt

04 September 2009 at 10:53

Direct tax collections register 4.12 % growth in first five months of fiscalNet direct tax collections during first five months of the present fiscal (up to August 2009) stood at Rs.87,888 crore, up from Rs.84,409 crore in the same period last fiscal

Posted in Income Tax | 3270 Views

Guidance on clause 17A in the Form No.3CD

25 August 2009 at 15:14

Guidance on clause 17A in the Form No.3CD 38A. Clause 17A- Amount inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006 This is a new clause inserted by the Central Board of Direct Taxes through its Notificati

Posted in Income Tax | 10 comments | 21876 Views

Extension of time limit for filing ITR-V form

14 August 2009 at 10:59

Extension of time limit for filing ITR-V formThe Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified IT

Posted in Income Tax | 15 comments | 33642 Views

10 percent tax rate for income below 10 lakh

12 August 2009 at 23:21

The government on wednesday introduced the new DIRECT TAX CODE. The new code has far reaching effect and attempts at simplifying the entire 47 year old tax structure of the country . The new code will become law only in 2011. The sailent features of

Posted in Income Tax | 9 comments | 25737 Views

DIRECT TAXES CODE BILL, 2009 RELEASED

12 August 2009 at 19:27

MINISTRY OF FINANCE RELEASES DIRECT TAXES CODE BILL, 2009 Click Here to downloadClick here to download discussion paper

Posted in Income Tax | 4 comments | 29496 Views

Direct Tax code to be released

12 August 2009 at 11:02

FM to release ‘Direct Taxes Code’ todayFinance Minister, Shri Pranab Mukherjee will release the draft of the Direct Taxes Code and a Discussion Paper tomorrow in the presence of Union Home Minister, Shri P. Chidambaram and Ministers of St

Posted in Income Tax | 7245 Views

TAX LAWS SHOULD BE SIMPLE, STABLE AND ROBUST

12 August 2009 at 10:58

Early signs of revival of Indian economy visible: FM TAX LAWS SHOULD BE SIMPLE, STABLE AND ROBUST NEW DIRECT TAXES CODE IN PUBLIC DOMAIN TOMORROW The Finance Minister, Shri Pranab Mukherjee has said that global economy has started stabilizing and e

Posted in Income Tax | 3 comments | 5958 Views