Income Tax Notification & Circulars

Income-Tax assessees in the state of Orissa, the due date fo

For the Income-Tax assessees in the state of Orissa, the due date for filling return of Income under section 44AB - extended till 31st October, 2008 ..

Posted in Income Tax

NEW FVU (FILE VALIDATION UTILITY ) RELEASED BY NSDL

No.402/92/2006-MC (10 of 2008) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi dated the 12th February 2008 PRESS RELEASE All tax deductors /&nbs..

Posted in Income Tax

INCOME TAX NOTIFICATION NO-45/2008

INCOME TAX NOTIFICATION NO-45/2008 In exercise of the powers conferred by Section 295 of the Income-tax read with sub-section (2) of Section 14A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income Tax Rules, 1962, ..

Posted in Income Tax

CIRCULAR NO. 9/2007, DATED 20-12-2007-FBT on ESOP

Explanatory circular on Fringe Benefit Tax arising on allotment or transfer of specified securities or sweat equity shares CIRCULAR NO. 9/2007, DATED 20-12-2007 In terms of the provisions of Chapter XII-H of the Income-ta..

Posted in Income Tax

New ITR form for 2008-09 Notification

NOTIFICATION NO. S.O. 752(E), DATED 28-3-2008 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely: - 1. (1) These rules may be cal..

Posted in Income Tax

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..

Posted in Income Tax | 2 comments

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..

Posted in Income Tax

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..

Posted in Income Tax

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)..

Posted in Income Tax

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..

Posted in Income Tax