Taxpayers News

CBDT releases Direct Tax Statistics  Constant growth indirect tax-GDP ratio over last three years Growth of more than 80% in the number of returns filed in the last four financial years Number of persons filing return of income has also increased by about 65% during this period from 3.31..

Tax Structure Needs to be Simplified to Help the Taxpayers Becoming Tax Compliant Rather than Tax Evaders: Ms Nirmala Sitharaman, Minister of State for Finance    Ms. Nirmala Sitharaman, Minister of State for Finance said that tax structure needs to be further simplified so that it i..

  As a Taxpayer friendly initiative, a facility to view details of Arrear Demand of taxpayers as communicated by their Jurisdictional Assessing Officers (A.O.) to the Central Processing Centre (CPC) is now enabled on the e-filing website i.e.https://incometaxindiaefiling.gov.in/portal/in..

  Taxpayer's Lounge – the stall set up by Income Tax Department at India International Trade Fair 2011 – receives the First Prize in the category Government Departments ..

RBI/2011-12/152 DPSS (CO) EPPD No./274/04.03.01/2011-12 August 12, 2011   The Chairman and Managing Director / Chief Executive Officer of member banks participating in  RTGS / NEFT   Madam / Dear Sir,   Discretion to customers for selection ..

  IT Initiatives: New Simplified form ‘Sugam’ to be introduced for small tax Payers - Steps initiated to Reduce tax Related Litigation The Union Budget 2011-12 has laid a special emphasis on reducing the compliance burden of small tax payers by introducing simplified..

Identity and address of a certain percetange of PAN applications will beverified by visiting the PAN applicants. Hence, an authorized third party agency may visit the PAN applicant to verify the identity and address provided in the PAN application - NSDL ..

  Authorities have looked at different aspects to decide on the taxability of remittance made Author : Sandeep Ladda & Kapil Sirsalewal/DNA The opening of the Indian economy has witnessed an exponential growth in investment by foreign companies in India, which has led to extensive d..

  Jumps to 5.8 lakh in 2008-09 vis-à-vis 1.43 lakh a year ago   Author : Khyati Dharamsi/DNA The online mode of filing tax returns seems to be gaining popularity with the aam admi. According to the income tax department data, online filing of returns by salaried employee..

Taxpayers will not have to pay the levy on withdrawal of cash from banks with the government withdrawing the Banking Cash Transaction Tax (BCTT) from Wednesday.   The government had introduced 0.1 per cent BCCT in 2005 on cash withdrawals of more than Rs 50,000 (individuals) and Rs 1 lakh for..