No.402/92/2006- MC (05 of 2008)Government of India / Ministry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi dated the 23rd January 2008PRESS RELEASEThe optional scheme of electronic payment of taxes for income-tax payers was i
DIRECT TAX COLELCTIONS UP BY 40% TILL 15TH JANUARY 15:19 IST Direct tax collections continued to record a growth of over 40 percent for the period April to January 15 in the current fiscal. Net tax collections stood at Rs.2,17,149 crore, up from Rs.
IT DEPT. TO BE MORE FRIENDLY TO BULK TAXPAYERS : FM CHIDAMBARAM COMMENDS FOR PERFORMANCE 17:50 IST The Union Finance Minister, Shri P. Chidambaram complimented the Chief Commissioners of Income Tax for the remarkable performance of the department, pa
Individuals will have to start reporting their income from all sources in due course, including tax-free income. Thegovernment is vetting a proposal to shift from an exemption to adeduction-based regime for reporting income, a government officialsaid
FM FINALIZES THE IT CODEFinance Minister P Chidambaram today said, that the draft of the Income Tax code, which is expected to simplify and replace the present law, is ready and will be released along with a discussion paper. The release period has n
Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF) for:- (i) making investments in certain savings instruments; or(ii) incurring expenditure on tuition fee and repayment
Direct tax collections continued to record a growth of over 40 percent for the period 1st April to 15th December 2007. According to provisional data, net tax collections stood at Rs.1,64,407 crore, up from Rs.1,15,377 crore during the same period las
Professionals, both salaried and self employed, as well as traders should be prepared to pay more tax. The Centre is considering amending the Constitution to raise the ceiling on professional tax from Rs 2,500 per annum at present to Rs 5,000.The tax
The government is extending the due date of filing of income tax return to February 29, 2008. The centre on Friday informed the Supreme Court that the due date for of filing of income-tax return was being extended in view of the confusion regarding f
The Finance Ministry appears to be favorably inclined toward moderating income tax rates in view of the over 40 per cent growth in direct tax collections. "With improvement in voluntary tax compliance and tax administration, direct tax collections ar
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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