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Income Tax News


Increase in Number of Tax Payers

   16 May 2012 at 12:47

The number of effective income tax assesses as well as the number of registered Central Excise and Service Tax assesses during the years 2006-07 to 2010-11 are as under: Financial Year Income Tax Assesses

Posted in Income Tax  3 comments |   12213 Views


Suggestions of ICAI relating to Direct Taxes considered in the amendments to Finance Bill, 2012 as passed in Lok Sabha

   14 May 2012 at 16:24

Suggestions of ICAI relating to Direct Taxes considered in the amendments to Finance Bill, 2012 as passed in Lok Sabha

Posted in Income Tax |   8730 Views


Post Office (Monthly Income Account) and Recurring Deposit Amendment Rules, 2012

   14 May 2012 at 11:51

POST OFFICE (MONTHLY INCOME ACCOUNT) AMENDMENT RULES, 2012 - AMENDMENT IN RULE 8 NOTIFICATION NO.GSR 322(E) DATED 25-4-2012 In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central

Posted in Income Tax |   27528 Views


Post Office Time Deposit (Amendment) Rules, 2012- Amendment in Rule 7

   14 May 2012 at 11:34

NOTIFICATION NO.GSR 323(E) DATED 25-4-2012 In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time D

Posted in Income Tax  1 comments |   9153 Views


Nation Saving Certificates (VIII and IX Issue) (Amendment) Rules, 2012

   14 May 2012 at 11:33

NATIONAL SAVINGS CERTIFICATES (VIII ISSUE) (AMENDMENT) RULES, 2012 - AMENDMENT IN RULES 15 AND 16 NOTIFICATION NO.GSR 318(E) DATED 25-4-2012 In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46

Posted in Income Tax |   13560 Views


New TAXNET Project 2013

   14 May 2012 at 11:25

The TAXNET Project (WAN & LAN) of Income Tax Department (ITD), operational from 2008, includes MPLS network (including 155 VSAT locations) at more than 700 locations spread in more than 500 cities across the country. The Department has now emb

Posted in Income Tax |   7689 Views


Guidelines for engagement of Standing Counsels to represent the Income-tax Department before High Courts and other judicial forums

   14 May 2012 at 11:24

INSTRUCTION NO. 3/2012, [F. NO. 279/MISC./M-75/2011-ITJ] DATED 11-4-2012 To, AllChief Commissioners of Income Tax, All Director Generals of Income Tax Sub : Guidelines for engagement of Standing Counsels to represent the Income-tax Departmen

Posted in Income Tax |   10482 Views


IT Evasion of Builders

   14 May 2012 at 11:24

The Income Tax Department conducts search, seizure and survey operations based on credible information relating to ‘persons’ which includes individuals, Hindu undivided families (HUFs), firms, companies, association of persons (AoPs),

Posted in Income Tax  1 comments |   4563 Views


The online submission of ITR-1 (SAHAJ) and ITR-4S (SUGAM) for AY 2012-13 has been enabled

   09 May 2012 at 17:45

The online submission of ITR-1 (SAHAJ) & ITR-4S (SUGAM) for AY 2012-13 has been enabled

Posted in Income Tax  3 comments |   28701 Views


No Case of Data Leak and Refund Frauds Detected Due to Outsourcing of Infotech Functions by IT Department

   09 May 2012 at 11:49

The outsourcing of infotech functions by the Income Tax (IT) Department has emerged after extensive discussions, rigorous evaluation and comprehensive examination by various authorities. Till now no instance has come to light of involvement of Ven

Posted in Income Tax |   5223 Views