Income Tax News

Cost Inflation Index - 2013-14 - 939

08 June 2013 at 10:09

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION No. 40/2013 INCOME-TAX New Delhi, the 6th day of June, 2013 S.O. 1464(E) - In exercise of the powers conferred by clause (v) of th

Posted in Income Tax | 1 comments | 44790 Views

Income Tax (Fifth Amendment) Rules, 2013 - Form for TDS 194IA on immovable property 26QB and 16B

04 June 2013 at 16:11

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 31st May, 2013 NOTIFICATION INCOME-TAX S.

Posted in Income Tax | 1 comments | 50703 Views

FM to Inaugurate Tomorrow 29th Annual Conference of Chief Commissioners of Income Tax and Directors General of Income Tax 2013

27 May 2013 at 17:55

The Union Finance Minister Shri P. Chidambaram will inaugurate the 29th Annual Conference of Chief Commissioners & Directors General of Income Tax here tomorrow. Two day Conference is being organised by the Central Board of Direct Taxes (CBDT) h

Posted in Income Tax | 1 comments | 12699 Views

Income Tax Department Sent Letters Today to Another Batch of 35,000 Non-Filers

27 May 2013 at 17:55

Government Once Again Urges all Tax Payers to Disclose Their True Income and Pay Appropriate Taxes As part of its ongoing initiative, the Income Tax Department has sent today i.e. 27th May, 2013 letters to another batch of 35,000 non-filers. These

Posted in Income Tax | 6 comments | 23556 Views

Restructuring of the Income Tax Department

24 May 2013 at 17:05

The Union Cabinet today approved the proposal for creation of 20,751 additional posts in the Income Tax Department in various cadres that is 1349 additional posts in the IRS cadre and 19,402 additional posts in the non-IRS cadres. This will help t

Posted in Income Tax | 6 comments | 22014 Views

Rationalisation of With-Holding Tax (WHT) to Encourage Greater Subscription in Indian Debt Securities by Foreign Investors

22 May 2013 at 13:50

Rationalisation of With-Holding Tax (WHT) to Encourage Greater Subscription in Indian Debt Securities by Foreign Investors, Encourage Development of the Indian Debt Market and Accelerate the Pace of Growth of the Indian Economy To enhance resour

Posted in Income Tax | 13521 Views

Government urges all tax Payers to Disclose their True income and pay Appropriate taxes within the Current Financial Year

21 May 2013 at 12:20

A Compliance Management Cell has been set-up to Ensure Follow-up Action and Track Return Filing and Tax Payment of the Target Segment; 70,000 Letters are being sent in 2 Batches to High Priority Cases in this Month The Union Finance Minister Shr

Posted in Income Tax | 2 comments | 12123 Views

New ITR forms for 2012-13 released

04 May 2013 at 14:36

INCOME-TAX (THIRD AMENDMENT) RULES, 2013 - AMENDMENT IN RULE 12 & SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013 In exercise of t

Posted in Income Tax | 11 comments | 55386 Views

Clarification on Amendment to Section 206-C of Income Tax Act dealing with Tax Collection at Source (TCS) on Sale of Bullion or Jewellery in Cash

02 May 2013 at 09:43

Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins were neither included in bull

Posted in Income Tax | 4 comments | 33795 Views

ITOUs set up in Indian Missions abroad to unearth black money

27 April 2013 at 11:50

Income Tax Overseas Units have been set up in Indian Missions abroad as part of efforts to unearth black money. Tax Officers at the level of First Secretary are being posted to Income-tax Overseas Units (ITOUs) in Indian Missions abroad to maint

Posted in Income Tax | 1 comments | 12468 Views