Income Tax News

Tax tribunal's ruling may open floodgates of claims : Sec 80(I)A

25 April 2008 at 10:10

Tax tribunal's ruling may open floodgates of claims from contractors supplying to infrastructure projects Author : Renni Abraham/DNA-Daily News & AnalysisContent : In a precedent-setting ruling, the Income Tax Appellate Tribunal (ITAT) has allowed AB

Posted in Income Tax | 1 comments | 5745 Views

E-FILING OF INCOME TAX RETURN FOR AY 2008-09

21 April 2008 at 21:53

Dear friends,e-filing of Income tax return for Assessment Year 2008-09 has been been started.Intially it has been started for three forms .All the three Return preparation Utilities (RPU)software are excel based.you can use them as efiling so

Posted in Income Tax | 26136 Views

Basic salary allowances = lesser loan eligibility

21 April 2008 at 14:28

Author : Khyati Dharamsi/DNA-Daily News & AnalysisWith tax reduction being the motive of job seekers, both employers and employees prefer a mix of basic salary and reimbursements. These allowances are being used by human resource executives to attrac

Posted in Income Tax | 8568 Views

MANDATORY E PAYMENT OF TAXES RBI DIRECTIVES

12 April 2008 at 20:11

RBI/2007-08/280DGBA.GAD. No. H. 10875 / 42.01.038 /2007-08April 10, 2008The Chairman & Managing Director/Managing DirectorState Bank of India and its Associates/ All Nationalised banks/ Axis Bank Ltd/HDFC Bank Ltd/ ICICI Bank Ltd/ IDBI Ltd/J&K Bank L

Posted in Income Tax | 5979 Views

CAs can audit, Sales Tax lawyers can't: HC

10 April 2008 at 14:05

Mumbai, April 7: In a decision that will affect the lawyers specialising in Sales Tax laws as well as former Sales Tax officers' who work as sales tax practitioners, Bombay High Court has held that only Chartered Accountants (CAs) can audit and certi

Posted in Income Tax | 3015 Views

HOW TO PAY ONLINE INCOME TAX

01 April 2008 at 20:38

As you may know that income tax payment online would be mandatory from 1/04/08(PRESS RELEASE HAS BEEN ISSUED BY CBDT READ THIS). As per press release and rule amended there after the following person are required to deposite Income tax online1.All

Posted in Income Tax | 2 comments | 26820 Views

Direct tax collections top Rs 3 lakh cr

01 April 2008 at 16:24

For the first time, the Centre's net direct tax collections have crossed the Rs 3-lakh crore mark.To grasp the significance of this milestone, one needs to go back only 15 years or so. In 1990-91, the Centre's net direct tax collections were about Rs

Posted in Income Tax | 3186 Views

Only 2 private firms in top ten advance tax payer list

31 March 2008 at 11:39

Private sector presence in the top ten advance taxpayers’ league has dwindled, going by the latest data compiled for 2007-08 by the revenue department. ICICI Bank, which had a presence in the top ten league up to December 15

Posted in Income Tax | 5856 Views

New ITR for 2008-09

31 March 2008 at 09:50

Find the latest ITRs in the share files section.To download the same click on the link belowNEW ITRs 2008-09

Posted in Income Tax | 4 comments | 11079 Views

I-T offices to stay open this weekend

31 March 2008 at 09:44

Responding to the appeal made by the All India Federation of Tax Practitioners (AIFTP), eastern zone, Mr T.K. Chatterjee, Chief Commissioner of Income-Tax, Kolkata, on Thursday issued orders that income tax offices throughout the State should remain

Posted in Income Tax | 3477 Views