Income Tax News

Seizure of Illegal Assets under the Income-tax Act, 1961

16 March 2013 at 12:39

Seizure of Illegal Assets In the searches conducted by the Income Tax Department during F.Ys 2009-10, 2010-11, 2011-12 and 2012-13 (up to December, 2012), unexplained assets of about Rs. 963.50 crore, Rs.774.98 crore, Rs. 905.60 crore and Rs.453

Posted in Income Tax | 1 comments | 11526 Views

New ITR Filing Procedure

15 March 2013 at 16:55

The Government proposes to introduce new procedures/forms for filling Income Tax returns. Every year government notifies forms for filing of income-tax returns after incorporating the changes brought out by the Finance Act of the previous year and

Posted in Income Tax | 5 comments | 37365 Views

Filing of IT returns by tax payers for a.y. 2012-13 on 30th & 31st march

15 March 2013 at 10:47

SECTION 119 OF THE INCOME TAX ACT, 1961 INCOME TAX AUTHORITIES INSTRUCTIONS TO SUBORDINATE AUTHORITIES ORDER FOR FACILITATING FILING OF IT RETURNS BY TAX PAYERS FOR F.Y. 2012-13 ON 30th & 31st MARCH, 2013 ORDER [F. NO.

Posted in Income Tax | 5 comments | 21138 Views

IT Department Urges Taxpayers to Pay all Self-Assessment Tax Dues by 31ST March

13 March 2013 at 15:28

The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) revea

Posted in Income Tax | 2 comments | 14838 Views

Notice inviting proposals for selection of an implementation agency for a National Judicial Reference System (NJRS)

27 February 2013 at 11:52

The Income Tax Department intends to setup a web based „National Judicial Reference System (NJRS)‟ with the objective of improved litigation management. The NJRS will consist of a centralized, indexed and searchable repository of all direct

Posted in Income Tax | 4281 Views

Inauguration of Centralized Processing Cell (TDS) by Honorable Finance Minister Shri P. Chidambaram

27 February 2013 at 11:30

Honorable Union Finance Minister Shri P. Chidambaram dedicated the Centralized Processing Cell (TDS) at Aayakar Bhawan, Vaishali on 23rd February, 2013. The function was attended by Secretary (Revenue) Shri Sumit Bose, Secretary (Economic Affairs)

Posted in Income Tax | 8046 Views

FM to Dedicate Centralized Processing Cell for Tax Deducted at Source, CPC (TDS) Today

23 February 2013 at 13:43

The Union Finance Minister Shri P. Chidambaram, will dedicate the Centralized Processing Cell for Tax Deducted at Source, CPC (TDS) to the nation today. The CPC (TDS) will be situated at Aayakar Bhawan, Sector-3, Vaishali, Ghaziaba

Posted in Income Tax | 1 comments | 7731 Views

Income-Tax (Second Amendment) Rules, 2013- Amendment in Rules 31A & 31AA; Substitution of Rules 31ACB, 37J

21 February 2013 at 11:23

Income-Tax (Second Amendment) Rules, 2013 - Amendment in Rules 31A & 31AA; Substitution of Rules 31ACB, 37J and form nos.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ and insertion of form no. 26B NOTIFICATION NO. 11/2013[F.NO.142/31

Posted in Income Tax | 1 comments | 26520 Views

Net Direct Tax Collections Figures for April-January 2012-13 up by 12.49 Percent at Rs. 3,90,310 Crore as Against Rs. 3,46,959 Crore in the Same Period Last Year

07 February 2013 at 09:54

Gross Direct Tax collection during April-January of the current fiscal (F.Y. 2012-13) was up by 7.02 percent at Rs. 4,55,125 crore as against Rs. 4,25,274 crore in the same period last fiscal. While gross collection of Corporate Taxes was up 3.71

Posted in Income Tax | 1 comments | 9456 Views

Income-Tax (First Amendment) Rules, 2013 - Insertion of Rule 17CA and Form no. 10BC

05 February 2013 at 10:45

NOTIFICATION NO. 8/2013 [F. NO. 142/20/2012-TPL] DATED 31-1-2013 In exercise of the powers conferred by clause (b) of section 13B, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the followin

Posted in Income Tax | 2 comments | 17895 Views