Income Tax News

Cost inflation index for 2015-16 is 1081

28 July 2015 at 10:17

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUECENTRAL BOARD OF DIRECT TAXESNOTIFICATIONINCOME-TAXNew Delhi, the 24th July, 2015S.O. 2031 (E)- In

Posted in Income Tax | 1 comments | 10812 Views

Simplification of ITR forms and issue of Pan cards

25 July 2015 at 17:02

The Government has simplified Income Tax Returns (ITR) Forms for individuals and HUFs not having business or professional income. In ITR Form No. 2 and 2A, the main form does not contain more than three pages and other information relevant for comput

Posted in Income Tax | 3 comments | 16440 Views

Commencement of Electronic Verification of Income Tax Returns for AY 2015-16

15 July 2015 at 10:23

To facilitate the taxpayers and to provide end-to-end e-enabled services, the Income Tax Return for A.Y. 2015-16 can now be verified electronically. A taxpayer may verify his return through Internet Banking or through Aadhar based authentication pro

Posted in Income Tax | 2 comments | 13848 Views

Electronic Verification Code for efiled Income tax return

14 July 2015 at 10:48

Electronic Verification Code for efiled Income tax return Please refer to the attached file for more details

Posted in Income Tax | 16098 Views

India and US sign agreement to promote transparency in tax matters

10 July 2015 at 10:26

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th July, 2015 Sub: United States and India Sien Agreement to Share Tax Information U.S. Ambassador to India Mr. Richard Verma and Indian Revenue S

Posted in Income Tax | 10794 Views

Procedure for claiming exemption u/s 11 for remittance to Nepal

09 July 2015 at 10:19

Standard Operating Procedure (SOP) for making application for claim of tax exemption u/s 11(1)(c) of the Income-tax Act, in respect of remittance of money/relief articles by Indian NGOs/Charitable Organisations for earthquake hit people in Nepal.Many

Posted in Income Tax | 10959 Views

Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets

06 July 2015 at 17:45

Circular No. 13 of 2015F. No. 142/18/2015-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated 6th of July, 2015Clarifications on Tax Compliance for Undisclosed Foreign Income and AssetsThe

Posted in Income Tax | 8295 Views

Notification of Black Money Rules and issue of Explanatory Circular for Compliance Window under Black Money Act

04 July 2015 at 13:32

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 (the Rules) have been notified vide notification

Posted in Income Tax | 1 comments | 13044 Views

Electronic Filing of Income Tax Returns for 2015-16 Commences

02 July 2015 at 11:16

Electronic Filing of Income Tax Returns for 2015-16 Commences; ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business; ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Bus

Posted in Income Tax | 4 comments | 18903 Views

Business relationship a CA can have with client notified by CBDT

27 June 2015 at 17:30

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II,SECTION 3, SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th June, 2015INCOME-TAXS.O. 1683(E).

Posted in Income Tax | 3 comments | 18138 Views