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CBDT notified Cost Inflation Index is 852 for Financial Year 2012-13

   18 September 2012 at 11:15

CBDT notified Cost Inflation Index is 852 for Financial Year 2012-13

Posted in Income Tax |   11778 Views


Dispute Resolution Panel-Reference to - Reconstitution of DRP at specified areas of jurisdiction-Section 144c of the Income-Tax Act, 1961

   17 September 2012 at 18:26

ORDER NO. 9/FT&TR/2012 [F. NO. 500/15/2011-FT&TR-1] DATED 7-9-2012 In exercise of powers conferred by clause (a) of sub-section (15) of Section 144C of the Income-tax Act, 1961 (43 of 1961) r/w Income-tax (Dispute Resolution Panel) Rul

Posted in Income Tax |   6759 Views


Instructions regarding Income limits for assigning cases to Deputy Commissioners/Assistant Commissioners/ITOs

   17 September 2012 at 18:25

LETTER [F.NO. 187/12/2010-ITA-1] DATED 5-9-2012 This is with reference to the deliberations made in the meeting of Chief Commissioners of Income Tax & Directors General of Income Tax held on 3-9-2012 at New Delhi. One of the issues raised

Posted in Income Tax |   9828 Views


Demand Management Fortnight- Standard Operating Procedure (SOP)

   17 September 2012 at 18:25

LETTER [DIT(S)-III/DMFORTNIGHT/2012-13] DATED 3-9-2012 The issue of demand management continues to remain an area of grave concern. It has been found that in most of the cases demand uploaded is incorrect and incomplete. Such demands have been

Posted in Income Tax |   7569 Views


Net Direct Tax Collections During April-August 2012-13 Up by 28.15 Per Cent and Stood at Rs.1,23,969 Crore as Against Rs. 1,54,361 Crore in the Same Period Last Year

   10 September 2012 at 17:25

Gross Direct Tax collections during April-August of the F.Y. 2012-13 was up by 6.51 per cent at Rs. 1,64,413 crore as against Rs. 1,54,361 crore in the same period last year. While gross collection of Corporate Taxes showed an increase of 0.15 per

Posted in Income Tax  1 comments |   6327 Views


Multilateral Convention in Tax Matter

   07 September 2012 at 11:29

India signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention) on 26th January, 2012 and ratified it as on 2nd February, 2012. The Multilateral Convention has come in to effect for India on 1s

Posted in Income Tax |   5520 Views


Income Tax Overseas Units

   06 September 2012 at 11:26

Income-tax Overseas Units (ITOUs) manned by tax officers at the level of First Secretary have been established in Mauritius and Singapore. Further, posting orders in respect of officers to be posted to newly created ITOUs in Indian missions at Cyp

Posted in Income Tax |   5259 Views


Income-tax (10th Amendment) Rules, 2012

   04 September 2012 at 12:54

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 30th day of August, 2012

Posted in Income Tax |   14349 Views


Full text of the committee report on GAAR

   03 September 2012 at 12:33

Full text of the committee report on GAAR

Posted in Income Tax  1 comments |   9279 Views


Ministry of Finance Notifies Advance Price Agreement (APA) Scheme

   01 September 2012 at 13:42

The Ministry of Finance has notified an “Advance Pricing Agreement Scheme” (Rules 10F to 10T of Income Tax Rules, 1962) vide notification No. 36/2012 dated 30-8-2012. The Finance Act, 2012 had inserted sections 92CC and 92CD in the Inc

Posted in Income Tax  4 comments |   9048 Views