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Income Tax Notification & Circulars


CLARIFICATION ON TDS ON SERVICE TAX SEC194-I RENT

 

Clarification on deduction of tax at source (TDS) on service tax component on rental income under section 194-I of the Income-tax Act CIRCULAR NO. 4/2008, DATED 28-4-2008   Representations/letters have been received in the Board seeking clarification as to whether TDS provisions un..

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Notification No. 62/2008

 

Notification No. 62/2008, dated 7-5-2008 In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of..

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Conditional Expenditures for the Development of Oil Industry

 

  Conditional Expenditures for the Development of Oil Industry NOTIFICATION NO. 21/2008, DATED 5-2-2008   In exercise of the powers conferred by clause (xii) of sub-section (1) of section 36 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purpos..

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40C Omitted & 40D Inserted in the Income Tax Rule

 

  40C Omitted & 40D Inserted in the Income Tax Rule NOTIFICATION NO. 11/2008, DATED 18-1-2008   In exercise of the powers conferred by section 295 read with Explanation (i) to clause (ba) of sub-section (1) of section 115WC of the Income-tax Act, 1961 (43 of 1961)..

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Business Expenditure

 

Jt. C.I.T. Vs. Mukund Ltd. 02/15/2007 [2007] 291 ITR 249 (MUMBAI)[SB] Case Fact: Whether Non-refundable `Premium` paid for obtaining land on lease of 99 years at the annual rent of Re. 1 for factory use in industrial area to State Development Corporation is advance rent? Decision: Held by the Hon`bl..

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Amendments to Rule 6DD!

 

INCOME-TAX (EIGHTH AMENDMENT) RULES, 2007 NOTIFICATION NO. 208/2007, dated 27-6-2007 In exercise of the powers conferred by section 295, read with proviso to sub-section (3) of section 40A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rule..

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Consignee to issue TDS certificate to truck operators-Clarification by CBDT

 

Note : Last Alert was No 129 dated 26-6-2006 Alert -1- Tax Deduction at Source - Issue of TDS Certificate under section 203 of the Income-tax Act - Cases of Truck/Goods-carriage Operators - CIRCULAR NO 6/2006 Dated 23-6-2006 As per the provisions of section 203 of the Income-tax Act, read with rule ..

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New Return Forms for Assessment Year 2007-08 matters connected thereto

 

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

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NOTIFICATION NO. 210/2007, DATED 27-7-2007

 

NOTIFICATION NO. 210/2007, DATED 27-7-2007 In exercise of the powers conferred by sub-section (1B) of sections 139 and 139D of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (3) of rule 12 of the Income-tax Rules, 1962 and in supercession of the Electronic Furnishing of Return of Income Sc..

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Cost Inflation Index for FY 2007-08

 

NOTIFICATION NO. 214/2007, DATED 3-8-2007 Notified Cost Inflation Index for financial year 2007-08 In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent of the aver..

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