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Extension of benefit of enhanced depreciation

   27 April 2009 at 13:23

Extension of benefit of enhanced depreciationPress Release No. 402/92/2006-MC (10 of 2009)Dated 24-4-2009The benefit of enhanced depreciation on commercial vehicles has been extended up to 30th September 2009. Now, commercial vehicles acquired on or

Posted in Income Tax  2 comments |   23136 Views


New Income Tax Return Forms are Notified for A.Y.2009-10

   06 April 2009 at 07:09

The CBDT has notified new Income Tax Forms for F.Y. 2008-09 | A.Y. 2009-10. via vide notification No. 32/2009 (Income-tax 9th Amendments) Rules, 2009.New ITR Forms Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Fo

Posted in Income Tax  19 comments |   43308 Views


Applicability of Form No.17

   03 April 2009 at 11:20

After amending the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS), the Central Board of Direct Taxes (CBDT) has said that the new Form No.17 (the challan for payment of TDS and TCS) will be applicable only for

Posted in Income Tax  15 comments |   58554 Views


Major changes in TDS Compliance

   01 April 2009 at 13:12

CBDT has issued Notification No 31 dated March 25, 2009 bringing out several changes in TDS compliance. The notification amends various rules w.e.f   01-04-2009. TDS Payment TDS payment is now to be made electronically by all deduct

Posted in Income Tax  10 comments |   54486 Views


Notification on TDS and TCS

   01 April 2009 at 10:39

Notification on TDS and TCS            The Board has amended the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) vide Notification No. S.O.858 (E) dated 25th Mar

Posted in Income Tax |   22548 Views


Major Changes in TDS and TCS Compliances

   31 March 2009 at 15:18

NOTIFICATION NO 31/2009, Dated: March 25, 2009In 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 to amend the Income-ta

Posted in Income Tax  4 comments |   25332 Views


Direct tax collection figures

   09 March 2009 at 16:46

Net direct tax collections during first eleven months of the present fiscal (up to February 2009) stood at Rs.258,902 crore, up from Rs.232,676 crore, registering a growth of 11.27 percent. Growth in Corporate Taxes was 16.79 percent (Rs.162,617 cror

Posted in Income Tax |   10653 Views


Enlargement of scope of TRPs

   19 February 2009 at 18:56

The Government of India have decided to enlarge the scope of the existing Tax Return Preparer (TRP) Scheme and authorize them to prepare and furnish returns of TaxDeducted at Source (TDS) and Service Tax, in addition to income-tax returns. To carry o

Posted in Income Tax |   9831 Views


Recognition to ICAI for Sec 35(1) (iii) of I.T. Act

   30 January 2009 at 18:26

It is hereby notified for general information that the organization World Wide Fund for Nature - India, New Delhi, has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 196

Posted in Income Tax  8 comments |   14856 Views


Income Tax department's website to get new address

   03 January 2009 at 11:51

New Delhi, Jan 2: The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.The new online facility will host of several user-friendly features.Th

Posted in Income Tax  2 comments |   28374 Views