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Income Tax News


Income-tax grievances to be registered online soon !!

   10 October 2008 at 09:42

Income-tax grievances to be registered online soon  NEW DELHI: Taxpayers will now be able to lodge their grievances with the taxman at the click of a mouse, with the launch of an online complaint redressal mechanism on the lines of the exis

Posted in Income Tax  1 comments |   6138 Views


Collection of third party information to check tax evasion

   01 October 2008 at 12:58

The Central Government has issued five notification nos. 38/2008 CE(NT) to 42/2008 CE(NT) all dated 29.9.2008 to facilitate collection of information from third party sources or from manufacturers themselves, in order to identify manufacturers with a

Posted in Income Tax  3 comments |   13257 Views


TDS on arrears of salary paid to govt employees

   01 October 2008 at 12:54

Clarification regarding tax deduction at source on arrears of salary paid to government servants on account of implementation of the recommendations of Sixth Central Pay Commission   The Implementation Cell of the Department of Expenditure,

Posted in Income Tax |   19191 Views


Extension of due date of filing income tax returns for Sikkim

   01 October 2008 at 02:06

The Central Board of Direct Taxes have extended the last date of filing of income tax returns, due by 31st July 2008, to 31st October 2008 in the state of Sikkim in view of the delay in issuing of Instruction No.8/2008 in respect of filing of income-

Posted in Income Tax |   5436 Views


EXTENSION OF DATE OF FILING IT RETURNS IN ORRISA

   30 September 2008 at 09:52

EXTENSION OF DATE OF FILING IT RETURNS AND OBTAINING TAX AUDIT REPORT IN THE STATE OF ORISSAPRESS RELEASE NO. 402/92/2006-MC (45 OF 2008), DATED 29-9-2008 The Central Board of Direct Taxes have extended the last date of filing of income tax returns

Posted in Income Tax |   7293 Views


Interest Rates for Tax Overpayments and Underpayments

   26 September 2008 at 13:01

The IRS has announced the interest rates for tax overpayments and underpayments for the calendar quarter beginning October 1, 2008.For non-corporate taxpayers, the rate for both underpayments and overpayments will be 6%. For corporations, the overpa

Posted in Income Tax  2 comments |   11535 Views


TAX DEPT MUST ACCEPT COS' AUDITED ACCOUNTS: SC

   25 September 2008 at 18:02

 The Supreme Court has said the Income-Tax Department has to accept the authenticity of the accounts maintained in accordance with the provisions of the Companies Act and certified by the auditors. The assessing officer cannot go beyond the

Posted in Income Tax  5 comments |   13977 Views


Health cover a tax-saver, too

   23 September 2008 at 16:19

Lest you forget, deduction possible under Sec 80D has gone up from this fiscal, When the finance ministry released a list of items that make it mandatory for the owner to file income-tax returns

Posted in Income Tax |   5013 Views


Last date of filing of income-tax returns extended in Bihar

   20 September 2008 at 14:43

 The Central Board of Direct Taxes (CBDT) has extended the last date of filing of income-tax returns and obtaining of tax audit report, due by September 30, 2008, to November 30 in Bihar in view of the disruptions caused by floods in that State.

Posted in Income Tax |   10584 Views


New Services Notified for tds u/s 194J specially in sports area

   26 August 2008 at 12:34

After taking Clue from the success of IPL(Indian Premier league) and money involved in it ,as you have heard at the time of IPL is running that department is exploring the way how to collect or tax the event or under which provision they can be calle

Posted in Income Tax |   18192 Views