In a bid to prevent a slowdown in investments in the mutual fund(MF) sector, the Association of Mutual Funds of India (Amfi) has mooteda proposal to market regulator Sebi that the July 2 deadline of makingPAN card compulsory be staggered or introduce
Omission or negligence on the part of an assessee to disclose properparticulars of his income-tax returns would not necessarily constitutea deliberate act of suppression to invite punitive action from taxofficials, the Supreme Court has ruled. Concea
Theprocess of electronically filing Income tax returns through theinternet is known as e-filing. It is mandatory for Companies and Firmsrequiring Section 44AB audit to submit the Income tax returnselectronically for AY 2007-08. Any Company and Firm r
The Income Tax department should be "friendly and courteous" towardsthe tax-payers while recovering levies, Union Finance Minister PChidambaram said on Friday. Inaugurating a Rs 38 croremulti-storeyed tower for the department
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Settlement Commission four Members appointed30 May 07F.No. A.12026/1/2005-Ad.IGovernment of IndiaMinistry of FinanceDepartment of RevenueDated : May 30, 2007OFFICE ORDER NO 152/2007The President of India is pleased to appoint Shri Raj Kishore, Chief
Acceptance of returns of income/ fringe benefits in paper form for assessment year 2007-08 in case of firms liable to audit under section 44AB and companies - reg. May, 29th 2007 Circular No. 03 / 2007F.No. 153/75/2007-TPLGovernment of IndiaMinistry
MUMBAI: Eight per cent taxable bonds, floated by the Government in 2003, will attract tax deduction at source (TDS) from today on interest exceeding Rs 10,000 in a year. "Tax is required to be deducted at source on the interest exceeding Rs 10,000 pa
PAY your taxes honestly and in time. The income-tax department is now going whole hog after recovery of tax arrears. Asa part of this exercise, the Central Board of Direct Taxes is creatinga data bank of those asse
The Income Tax Department has said there was no need for appending 'Form16' - the statement of tax deducted at source - with the returns on income toavail of tax refunds. "Ataxpayer is not required to file any document relating to computation of in
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