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Income Tax News


Instructions for filing wealth tax returns

   19 July 2014 at 18:39

INSTRUCTIONS FOR FILLING UP RETURN OF NET WEALTH (FORM BB)(To be detached before filing the return in a paper form) This form is to be filled up by all wealth-tax assessees [individual, Hindu Undivided Family (HUF) or company]. This form is applicabl

Posted in Income Tax  2 comments |   31239 Views


Irregularities in Providing Tax Concession

   19 July 2014 at 18:39

Exemptions and tax concessions under the Income-tax Act, 1961 (‘Act’) are provided in accordance with the provisions of the Act. However, any exemption or tax concession wrongly claimed in the returns of income filed by the tax payers are

Posted in Income Tax |   11487 Views


Revision of monetary limits for filing of appeals by the Department before the ITAT

   16 July 2014 at 10:27

Instruction No. 5/2014 - Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and Supreme Court - measures for reducing litigation. To read further in details, find the attachment enclo

Posted in Income Tax  1 comments |   16257 Views


Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department

   05 July 2014 at 13:19

Standard Operating Procedure on filing of Appeals/Special Leave Petitions(SLPs) by the Income Tax Department in the Supreme Court and related matters: instructions regarding- Revised Proforma B to Instruction No.4/2011 dated 09.03.2011 Detailed infor

Posted in Income Tax  1 comments |   21261 Views


A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

   05 July 2014 at 13:19

A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can log on to: https://incometaxindiaefiling.gov.i

Posted in Income Tax  5 comments |   31971 Views


New versions of forms released by MCA

   24 June 2014 at 11:29

Version of the forms INC-1, INC-2, INC-22, FC-2, FC-3, SH-8, CHG-1, DIR-12, INC-21, MGT-14, INC-23, INC-28, MR-1, MR-2, SH-7 and FC-4 are likely to change w.e.f 24th June 2014. You are requested to plan accordingly.

Posted in Income Tax  2 comments |   6864 Views


New Password for official e-Mail to all Users of the Income Tax Department

   18 June 2014 at 11:34

This is to bring to your kind notice that the official e-mail of Income Tax Department has been migrated to an upgraded version requiring better security. For this, a new Password

Posted in Income Tax  8 comments |   40032 Views


Tax Administration Reform Commission (TARC) submitted its First report to the Finance Minister on 30th May 2014

   17 June 2014 at 11:43

Tax Administration Reform Commission (TARC) submitted its First report to the Finance Minister on 30th May 2014 Please find the attached file.

Posted in Income Tax  1 comments |   12753 Views


Cost inflation index for FY 2014-15 is 1024

   16 June 2014 at 11:40

GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUECENTRAL BOARD OF DIRECT TAXESNOTIFICATIONINCOME-TAXNew Delhi, the 11th June, 2014 S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the In

Posted in Income Tax  6 comments |   27000 Views


Applicability of PAN requirement for Foreign Nationals.

   11 June 2014 at 16:07

Applicability of PAN requirement for Foreign Nationals. Please find the attached file.

Posted in Income Tax  2 comments |   24384 Views