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Basic salary allowances = lesser loan eligibility

   21 April 2008 at 14:28

Author : Khyati Dharamsi/DNA-Daily News & AnalysisWith tax reduction being the motive of job seekers, both employers and employees prefer a mix of basic salary and reimbursements. These allowances are being used by human resource executives to attrac

Posted in Income Tax |   8511 Views


MANDATORY E PAYMENT OF TAXES RBI DIRECTIVES

   12 April 2008 at 20:11

RBI/2007-08/280DGBA.GAD. No. H. 10875 / 42.01.038 /2007-08April 10, 2008The Chairman & Managing Director/Managing DirectorState Bank of India and its Associates/ All Nationalised banks/ Axis Bank Ltd/HDFC Bank Ltd/ ICICI Bank Ltd/ IDBI Ltd/J&K Bank L

Posted in Income Tax |   5937 Views


CAs can audit, Sales Tax lawyers can't: HC

   10 April 2008 at 14:05

Mumbai, April 7: In a decision that will affect the lawyers specialising in Sales Tax laws as well as former Sales Tax officers' who work as sales tax practitioners, Bombay High Court has held that only Chartered Accountants (CAs) can audit and certi

Posted in Income Tax |   2970 Views


HOW TO PAY ONLINE INCOME TAX

   01 April 2008 at 20:38

As you may know that income tax payment online would be mandatory from 1/04/08(PRESS RELEASE HAS BEEN ISSUED BY CBDT READ THIS). As per press release and rule amended there after the following person are required to deposite Income tax online1.All

Posted in Income Tax  2 comments |   26760 Views


Direct tax collections top Rs 3 lakh cr

   01 April 2008 at 16:24

For the first time, the Centre's net direct tax collections have crossed the Rs 3-lakh crore mark.To grasp the significance of this milestone, one needs to go back only 15 years or so. In 1990-91, the Centre's net direct tax collections were about Rs

Posted in Income Tax |   3117 Views


Only 2 private firms in top ten advance tax payer list

   31 March 2008 at 11:39

Private sector presence in the top ten advance taxpayers’ league has dwindled, going by the latest data compiled for 2007-08 by the revenue department. ICICI Bank, which had a presence in the top ten league up to December 15

Posted in Income Tax |   5784 Views


New ITR for 2008-09

   31 March 2008 at 09:50

Find the latest ITRs in the share files section.To download the same click on the link belowNEW ITRs 2008-09

Posted in Income Tax  4 comments |   11058 Views


I-T offices to stay open this weekend

   31 March 2008 at 09:44

Responding to the appeal made by the All India Federation of Tax Practitioners (AIFTP), eastern zone, Mr T.K. Chatterjee, Chief Commissioner of Income-Tax, Kolkata, on Thursday issued orders that income tax offices throughout the State should remain

Posted in Income Tax |   3438 Views


ITAT makes trusts' registration with I-T Dept easier

   23 March 2008 at 15:18

New Delhi (PTI): Making it easier for trusts to register themselves with the Income Tax Department, the tax tribunal has ruled that registration process would be deemed to be complete if the application is not rejected by the concerned official withi

Posted in Income Tax |   3120 Views


Giving is joyful, receiving taxing

   23 March 2008 at 15:18

Gift is “something given voluntarily without payment in return, as to show favour towards someone”. The practice of giving and receiving gifts possibly started with Adam and Eve. Gifts are usually given out of natural love and affection,

Posted in Income Tax |   6024 Views