Income Tax News

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 | 3072 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 | 53610 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 | 4977 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 | 4824 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 | 12543 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 | 9618 Views

Constitution of DRPs in eight cities notified

24 November 2009 at 12:32

Constitution of DRPs in eight cities notifiedCentral Board of Direct Taxes has notified rules to regulate the procedure of the Dispute Resolution Panel (DRP) constituted under section 144C of the Income Tax Act, 1961 inserted by the Finance Act 2009.

Posted in Income Tax | 1 comments | 5964 Views

Income-tax (Dispute Resolution Panel) Rules, 2009

23 November 2009 at 19:32

Income-tax (Dispute Resolution Panel) Rules, 2009 Notification No. 84/2009[S.O. 2958(E)/F.No. 142/22/2009-TPL]Dated 20-11-2009In exercise of the powers conferred by sub-section (14) of section 144C of the Income-tax Act, 1961 (43 of 1961), the Centra

Posted in Income Tax | 3 comments | 7851 Views

Income Tax Raids

21 November 2009 at 10:57

The Income Tax Department, assisted by the Enforcement Directorate, has conducted searches and seizure operation recently in various States of the country. Various lockers, bank accounts and premises are under propitiatory orders as per the provision

Posted in Income Tax | 12528 Views

Direct tax collection rises

05 November 2009 at 16:20

Direct tax collection risesNet direct tax collections during the first seven months of the present fiscal (upto October 2009) stood at Rs 1,73,447 crore, up from Rs 1,66,905 crore in the same period last fiscal, registering a growth of 3.92 percent,

Posted in Income Tax | 1 comments | 7233 Views