Income Tax News
New Income Tax Return Forms are Notified for A.Y.2009-10
06 April 2009 at 07:09The CBDT has notified new Income Tax Forms for F.Y. 2008-09 | A.Y. 2009-10. via vide notification No. 32/2009 (Income-tax 9th Amendments) Rules, 2009.New ITR Forms Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Fo
Applicability of Form No.17
03 April 2009 at 11:20After amending the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS), the Central Board of Direct Taxes (CBDT) has said that the new Form No.17 (the challan for payment of TDS and TCS) will be applicable only for
Major changes in TDS Compliance
01 April 2009 at 13:12CBDT has issued Notification No 31 dated March 25, 2009 bringing out several changes in TDS compliance. The notification amends various rules w.e.f 01-04-2009. TDS Payment TDS payment is now to be made electronically by all deduct
Notification on TDS and TCS
01 April 2009 at 10:39Notification on TDS and TCS The Board has amended the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) vide Notification No. S.O.858 (E) dated 25th Mar
Major Changes in TDS and TCS Compliances
31 March 2009 at 15:18NOTIFICATION NO 31/2009, Dated: March 25, 2009In 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 the Income-ta
Direct tax collection figures
09 March 2009 at 16:46Net direct tax collections during first eleven months of the present fiscal (up to February 2009) stood at Rs.258,902 crore, up from Rs.232,676 crore, registering a growth of 11.27 percent. Growth in Corporate Taxes was 16.79 percent (Rs.162,617 cror
Enlargement of scope of TRPs
19 February 2009 at 18:56The Government of India have decided to enlarge the scope of the existing Tax Return Preparer (TRP) Scheme and authorize them to prepare and furnish returns of TaxDeducted at Source (TDS) and Service Tax, in addition to income-tax returns. To carry o
Recognition to ICAI for Sec 35(1) (iii) of I.T. Act
30 January 2009 at 18:26It is hereby notified for general information that the organization World Wide Fund for Nature - India, New Delhi, has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 196
Income Tax department's website to get new address
03 January 2009 at 11:51New Delhi, Jan 2: The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.The new online facility will host of several user-friendly features.Th
New definition of Charitable Purpose
24 December 2008 at 14:42Definition of 'Charitable purpose' under section 2(15) of the Income-tax Act, 1961Section 2(15) of the Income Tax Act, 1961 ('Act') defines "charitable purpose" to include the following:-(i) Relief of the poor(ii) Education(iii) Medical relief, and(i
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