Income Tax News

Direct Tax Collection for June Quarter

10 July 2013 at 11:29

Gross direct tax collection during April-June of the F.Y. 2013-14 is up by 11.52 percent at Rs. 1,23,993 crore as against Rs. 1,11,183 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 7.82 percen

Posted in Income Tax | 4 comments | 11670 Views

Clarification Regarding Applicability of SA 700 on Tax Audit Report under Section 44AB of The Income-Tax Act, 1961

06 July 2013 at 12:24

As the members are aware that all audit reports in respect of audits of financial statements for period beginning on or after 1st April 2012 are to be issued in accordance with the requirements of SA 700(Revised) - Forming an Opinion and Reporting

Posted in Income Tax | 7 comments | 29031 Views

Implementation of the approved Restructuring of the Income Tax Department

04 July 2013 at 17:14

Government has approved Cadre Restructuring of the Department for the creation of 20,751 additional posts and for carrying out various measures to increase the effectiveness of the Department. Please find the attached file for full news.

Posted in Income Tax | 2 comments | 15609 Views

New Circulars on Transfer Pricing of Development Centres

01 July 2013 at 12:14

It has been decided to rescind Circular2/2013 dated 26.03.2013 and amend Circular 3/2013 dated 26.03.2013 pertaining to transfer pricing issues. Please find attached - Press Release by FM Amended Circular No.3 Circular No.5

Posted in Income Tax | 8949 Views

Income-Tax (Eighth Amendment) Rules, 2013 - Insertion of Rule 21AC and Form no. 10FC

28 June 2013 at 16:22

[TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 26th day of June, 2013 INCOME-TAX

Posted in Income Tax | 21888 Views

Standardizing the process of filing application under section 10(46) of the Income Tax Act, 1961

25 June 2013 at 10:13

Standardizing the process of filing application under section 10(46) of the Income Tax Act, 1961

Posted in Income Tax | 1 comments | 14895 Views

The Central Government hereby appoints Finance Act, 2013 (17 of 2013) the 1st day of July, 2013

21 June 2013 at 10:55

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19 June, 2013 NOTIFICATION S.O. 1768 (E).- In exercise of the powers conferred by sub-section (2) of section 115 of the Finance Act, 2013 (17 of 2013), the Central Gove

Posted in Income Tax | 24783 Views

Commodities Transaction Tax Rules, 2013

21 June 2013 at 10:55

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19 June, 2013 NOTIFICATION COMMODITIES TRANSACTION TAX RULES, 2013 S.O. 1769 (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 133 of the

Posted in Income Tax | 1 comments | 19422 Views

A Word from New Chairperson, CBDT

18 June 2013 at 12:22

A WORD FROM CHAIRPERSON, CBDT My Dear Members of the Aayakar Family, On my elevation as Chairperson of CBDT, I take the first opportunity to greet you all and thank you for your good wishes I received during these days. I feel greatly humbled by

Posted in Income Tax | 14190 Views