Income Tax News

People rush to file IT return on time

31 July 2007 at 11:59

With July coming to an end, taxpayers across the country have joined queues to beat the last date for filing returns. Thisyear the last date for filing income tax returns for the AssessmentYear 2007-08 for salaried and non-audit business cases is Jul

Posted in Income Tax | 3459 Views

TRP's Vs CA's!!!!!!

30 July 2007 at 06:22

The government's much-touted scheme to certify Tax Return Preparers (TRPs) to feed a growing demand from taxpayers and assesses has got off to a shaky start in its first year. More than 3,700 TRPs trained for free by the government are still finding

Posted in Income Tax | 10335 Views

Employer did not deduct TDS..what to do??

29 July 2007 at 07:39

Employer does not credit TDS to Govt - Can it be recovered again from employee by Income Tax? No, says Bombay HC MUMBAI, JULY 26, 2007 : BEWARE your employer may run away with your TDS or refuse to give you a TDS certificate! What happens then? Here

Posted in Income Tax | 8907 Views

PROCEDURE FOR SELECTION OF CASES FOR `SCRUTINY' FOR NON-CORPORATE ASSESSEES

28 July 2007 at 10:24

PROCEDURE FOR SELECTION OF CASES FOR `SECRUTINY' FOR NON-CORPORATE ASSESSEES In supercession of earlier instructions on the above subject the Board herebylays down the following procedure for selection of returns / cases of Non-Corporate Assessees fo

Posted in Income Tax | 3 comments | 35676 Views

ICAI - E-filing issues taken by ICAI with CBDT

28 July 2007 at 10:22

FOR THE KIND ATTENTION OF THE MEMBERS Re: E-filing of Income-tax Return Forms The Fiscal Laws Committee has recently submitted to the CBDT the selected issues on e-filing of income-tax return forms. Further issues would also be forwarded shortl

Posted in Income Tax | 8202 Views

CBDT Circular No5/2007 on matters connected to New Return Forms

28 July 2007 at 02:34

New Return Forms for Assessment Year 2007-08 matters connected thereto reg.CIRCULAR NO. 5 / 2007, DATED 26-7-2007The Central Board of Direct Taxes, vide notification S.O. No.762(E) dated 14th May, 2007 have notified following new return forms for ass

Posted in Income Tax | 6198 Views

Writ Petition against ITRs!!!

27 July 2007 at 00:02

A writ petition has been filed today in the Lucknow Bench of Allahabad High Court, challenging the notification amending the Income Tax Act for providing of the new format of the Income Tax Returns. After considering the matter, the Income

Posted in Income Tax | 3645 Views

Credit card, share details requisite on new ITR form

26 July 2007 at 06:44

As the last date for filing income tax returns approaches near, therush to fill new ITR forms is building up. And so is the confusionamong tax payers who do not find the new tax form an easy deal.Last year, when the Income Tax department introduced t

Posted in Income Tax | 3699 Views

IT Offices to remain open on 28 & 29 July 2007 for accepting return

25 July 2007 at 12:14

F.No.220/3/2007- ITA-IIGovernment of IndiaMinistryof FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, the 24thJuly, 2007. Order under Section 119 (1) of the Income Tax Act, 1961. Thedue date for filing of return of income withi

Posted in Income Tax | 2805 Views

FM on tax compliance !

24 July 2007 at 22:38

The Finance Minister, Mr. P. Chidambaram, said that tax rates have been moderate in the country and that more people are complying with taxation laws."I take legitimate pride in being part of the team that moderated taxes since 1991. More people are

Posted in Income Tax | 2883 Views