The INCOMETAX E-FILING website will be unavailable between 5pm on 14th August till 11 pm on 15th August on account of site upgradation work.
Owning land away from city limits may be a good idea to keep away from the madding crowd - but not so much from taxes. As the penchant for a house with that green patch grows even in smaller cities, the income-tax department is mulling over enhancing
ITR 6 in excel format released by Income tax deptClick on the link below to download http://www.caclubindia.com/files_download.asp?files_id=916
The I-T department should work out the cost of collection after excluding the tax collected at pre-assessment stages. T. N. Pandey One of the achievements for which the Income-Tax (I-T) department takes considerable credit is the low cost of collecti
To download the comparative scrutiny guidelines click on the link belowhttp://www.caclubindia.com/files_display.asp?files_id=898
Salaried people now pay income-tax on their gross income while businessmen, self-employed persons and others pay tax on their net income, even as the income-tax exemption limit is the same for everyone. This gross injustice needs to be removed. As pe
The party for retailers taking space in malls may soon end with the tax sleuths on prowl to check evasion of tax deducted at source (TDS) by them. Income-tax department is laying special emphasis on tightening of TDS administration, as these payments
Additional tax-saving avenues are on their way. A Securities & Exchange Board of India committee has proposed tax exemptions up to Rs2 lakh under Section 80 C of the Income Tax Act, as against the current limit of Rs1 lakh. The only caveat is that th
New I-T code to be tabled before December!Finance Minister P Chidambaram has been working on drafting the code, which after being tabled in Parliament, will have to go through a process that will take quite some time before it is passed. The new inco
The Central Board of Direct Taxes (CBDT) is considering a proposal to restrict the exemption on long-term capital gains only to companies constituting the BSE-500 index. At present, the exemption under Section 10 (38) is allowed on transactions of sh
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