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TDS at a higher rate on all transactions not having PAN -PROVISION TO COME INTO EFFECT FROM 1ST APRIL 2010

   21 January 2010 at 12:41

TDS at a higher rate on all transactions not having PAN PROVISION TO COME INTO EFFECT FROM 1ST APRIL 2010A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. T

Posted in Income Tax  3 comments |   14448 Views


TDS from salaries during financial year 2009-10

   16 January 2010 at 11:49

INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2009-2010 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. CIRCULAR NO.1/2010 Income tax F.No.275/192/2009IT(B)] NEW DELHI, dated the 11th January,

Posted in Income Tax  7 comments |   31326 Views


Government signs revised DTAA with Finland

   15 January 2010 at 16:46

Government signs revised DTAA with FinlandA revised Agreement and Protocol between India and Finland for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by Sh. S.S.N.Moorthy, Chairma

Posted in Income Tax |   5874 Views


FM asks I T Department to Achieve Revised Tax Target

   09 January 2010 at 12:40

FM asks I T Department to Achieve Revised Tax Target 7.75% GROWTH RATE THIS FISCAL ACHIEVABLEFinance Minister, Shri Pranab Mukherjee has directed the Income Tax Department to make all efforts to achieve the revised direct tax target of Rs.4 lakh cror

Posted in Income Tax |   6486 Views


Over 8 per cent growth in direct tax collections during April-December

   05 January 2010 at 18:07

Over 8 per cent growth in direct tax collections during April-DecemberNet direct tax collections during first three quarters of the present fiscal (up to December 2009) stood at Rs.2,50,232 crore, up from Rs.2,30,598 crore in the same period last fis

Posted in Income Tax |   3033 Views


New rules for valuation of perquisites

   19 December 2009 at 17:21

Top of FormINCOME-TAX (THIRTEENTH AMENDMENT) RULES, 2009 - SUBSTITUTION OF RULE 3 AND INSERTION OF RULE 40F Notification No. 94/2009/ F.No.142/25/2009-S O (TPL)Dated 18-12-2009 In exercise of the powers conferred by section 295 read with sub-section

Posted in Income Tax  14 comments |   53586 Views


Direct taxes code to provide environment conducive for foreign investment

   16 December 2009 at 17:47

Direct taxes code to provide environment conducive for foreign investments: FM FINANCE MINISTER ADDRESSES PARLIAMENTARY CONSULTATIVE COMMITTEE OF FINANCE MINISTRYThe government will take inputs from various stake holders before giving final shape to

Posted in Income Tax |   4953 Views


Direct tax collections register growth of 3.71%

   03 December 2009 at 10:40

Direct tax collections register growth of 3.71% till NovemberNet direct tax collections during first eight months of the present fiscal (up to November 2009) stood at Rs.1,83,822 crore, up from Rs.1,77,251 crore in the same period last fiscal, regis

Posted in Income Tax  1 comments |   4770 Views


CBDT issues clarification on procedure for remittances abroad

   01 December 2009 at 10:30

CBDT issues clarification on procedure for remittances abroad by diplomatic missionsThe Government has clarified that while remitting consular receipts abroad, diplomatic missions in India will be required to submit only a self certified undertaking

Posted in Income Tax  2 comments |   12519 Views


Remittances to non-residents under section 195 of the Income

   30 November 2009 at 15:30

Remittances to non-residents under section 195 of the Income-tax Act �� remittances of Consular receipts - clarification regCIRCULAR NO 9/2009Dated: November 30, 2009Subject:- Remittances to non-residents under section 195 of the Income-t

Posted in Income Tax  5 comments |   9606 Views