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Income-tax ( 8th Amendment) Rules, 2012 - Substitution of Form ITR-7

   28 July 2012 at 11:55

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION New Delhi, the 26th day of July, 2012 Income-tax S.O. 1705 (E).- In exercise of the powers conferred by section 295 of the Income-tax Ac

Posted in Income Tax |   19296 Views


Verification Certificate under provisions of Rules 114(4) of IT Rules, 1962 of PAN (Individual / HUF)

   26 July 2012 at 11:03

A format has been prescribed for verification certificate under provisions of Rules 114(4) of IT Rules, 1962. An individual / HUF PAN Applicant who files certificate of MP / MLA / MC / Gazetted officer as proof of his / her identity or address is

Posted in Income Tax |   87969 Views


Income Tax Department Starts Two More Taxpayer Friendly Initiatives : 'Register for Home Visit' and 'Online Tax Help'

   24 July 2012 at 17:09

In order to make the Income Tax Return filing experience even more convenient, the Income Tax Department has started two more taxpayer friendly initiatives ‘Register for Home Visit’ and ‘Online Tax Help’. To avail these fac

Posted in Income Tax  5 comments |   13536 Views


Setting Up of Tax Kiosks, Mumbai

   23 July 2012 at 11:47

The Income Tax Department, Mumbai is setting-up ‘Tax Kiosks’, manned by Tax Return Preparers, at various locations in Mumbai to assist the Individual & HUF taxpayers in preparation and filing of their Returns of Income. Prescrib

Posted in Income Tax  1 comments |   6690 Views


Exemption of Salaried Employees from Requirement of Filing of Returns for Assessment Year 2012-13

   20 July 2012 at 15:54

Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement of filing the returns for assessment year 2012-13. The exemption is applicable only if all the f

Posted in Income Tax  4 comments |   20727 Views


Correct TDS credit resposibility is of the deductor

   10 July 2012 at 15:57

Deductors Must Comply with their Obligations to Ensure Correct Credit to Persons from Whose Income Tax is Deducted at Source All deductors other than Government deductors must file their quarterly TDS statement for the quarter ending 30th June 2

Posted in Income Tax  7 comments |   17223 Views


Net Direct Tax Collections During April-June 2012 up by 47.16%

   10 July 2012 at 11:07

Gross Direct Tax collections during April-June of the Financial Year 2012-13 was up by 6.77 percent at Rs. 1,11,182 crore as against Rs. 1,04,135 crore in the same period during the last year. Gross collection of Corporate Taxes showed an increase

Posted in Income Tax  1 comments |   6492 Views


New ITR-5 and ITR-6 forms released

   04 July 2012 at 17:43

NOTIFICATION NO.25/2012 [F.NO.142/31/2011 -TPL]/S.O. 1453(E) DATED 2-7-2012 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further t

Posted in Income Tax  2 comments |   24417 Views


CBDT Issues Notification Making E-Filing of Income Tax Returns Mandatory

   02 July 2012 at 14:42

Central Board of Direct Taxes (CBDT) has issued a notification S.O. 626(E) dated 28th March 2012 vide which e-Filing has been made compulsory for Assessment Year 2012-13 onwards for an individual or a Hindu undivided family, if hi

Posted in Income Tax  5 comments |   29493 Views


CBDT Invites Comments/Suggestions on Draft GAAR Guidelines

   29 June 2012 at 16:38

The Central Board of Direct Taxes (CBDT), Ministry of Finance has invited comments/suggestions on the Draft Guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of Section 101 of The Income Tax Act, 1961.The Draft GA

Posted in Income Tax  1 comments |   7767 Views