CAclubindia News


Retailers Rosy days out-IT Dept

   08 August 2007 at 05:48

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

Posted in Income Tax |   2994 Views


80C benefit may be increased to 2 lac..

   08 August 2007 at 05:31

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

Posted in Income Tax |   4989 Views


New IT Code by December !

   08 August 2007 at 05:15

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

Posted in Income Tax |   2934 Views


How satisfied are you with your profession!!!

   08 August 2007 at 05:13

Accountants more satisfied than tax expertsTax advisers come 42nd in a poll of job satisfaction, belowmanagement accountants - but above lawyersKevin Reed, Accountancy Age 07 Aug 2007Management and chartered accountants have higher job satisfactionth

Posted in Career |   3255 Views


Long term capital exemption may go ...

   07 August 2007 at 23:19

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

Posted in Income Tax |   2922 Views


Cost Inflation Index for Financial Year 2007-08

   07 August 2007 at 04:59

The Cost Inflation Index for the Financial Year 2007-08 has been notified as 551 vide NOTIFICATION NO. 214/2007, DATED 3-8-2007.

Posted in Income Tax |   8142 Views


ITR-5 released in Excel Format by Income tax Dept

   06 August 2007 at 10:01

The Income Tax department has devised ITR-5 in Excel format. To download the file click on the link given below.. http://www.caclubindia.com/files_display.asp?files_id=893

Posted in Income Tax |   4176 Views


CPT RE-EXAM ON 26TH OF AUGUST

   05 August 2007 at 14:05

EXAMINATIONS HELD ON 5 AUGUST STANDS TO BE CANCELLED AND RE EXAM WILL BE CONDUCTED ON 26TH OF AUGUST 2007 (ALL OVER THE COUNTRY)LINK OF ICAI NOTIFICATIONhttp://www.icai.org/icairoot/announcements/announ1098.html

Posted in Students |   5640 Views


CPT paper leaked

   05 August 2007 at 03:23

New Delhi: For the first time in 57 years, the question paper for the Common Proficiency Test (CPT) to be conducted by the Institute of Chartered Accountants of India (ICAI) has been leaked.Following a sting operation conducted by a private news chan

Posted in Career |   13293 Views


E-PAYMENT MADE MANDATORY FOR CORPORATES

   04 August 2007 at 23:24

E-PAYMENT MADE MANDATORY FOR CORPORATESThe office of the Andhra Pradesh Chief Commissioner of Income Tax today informed that e-payment of Direct Taxes was mandatory for Corporate Tax payers and those coming under the purview of Sec 44 AB, with effect

Posted in Income Tax |   3387 Views