Income Tax News
New facility of pre-filling TDS data while submitting online rectification
11 December 2015 at 10:29Central Board of Direct Taxes (CBDT) has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return. Taxpayers were required to fill-in complete details of the entire TDS schedule while applying for rectifi
Improving The Process of E-Filing of Documents
08 December 2015 at 16:59Ministry of Corporate Affairs provides End to End e-Governance Services on its MCA 21 portal, which may occasionally have software and hardware related issues at either end. To address any difficulty, stakeholders may contact the Corporate Seva Kendr
Refund pending below Rs 50000 to be expedited
07 December 2015 at 16:30Central Board of Direct Taxes (CBDT) issues directions for expediting pending refunds below Rs. 50,000/ for Assessment Year(s) 2013-14 and 2014-15 in all cases except those selected for scrutiny The Income-tax Department is committed to improving ta
Extension of tax compliance dates in Tamil Nadu
07 December 2015 at 12:33For all Central Excise and Service Tax assessees in the State of Tamil Nadu, the date for payment of Central Excise duty and Service Tax for November 2015 is extended to 20th December 2015 while date of filing of the Central Excise return for Novembe
IT deduction from salaries during FY 2015-16
04 December 2015 at 10:23CIRCULAR NO : 20/2015F.No. 275/192/2015-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes******North Block, New DelhiDated the 2nd December, 2015SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THEFINANCI
Shri A.K Jain appointed as new chairman of CBDT
01 December 2015 at 12:23Shri A.K. Jain, Member, CBDT to discharge the duties and responsibilities of the post of Chairperson, CBDT in addition to his own duties; Ms. Anita Kapur, Chairperson, CBDT who is superannuating today, is appointed as Adviser on Tax Reforms for a per
Phasing out plans of deductions under the income tax act
27 November 2015 at 11:54Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 26th November, 2015Subject: Finance Minister�s Budget announcement- phasing out plan of deductions under the Income-tax Act- Extension of time li
Govt plan to reduce corporate tax to 25%
23 November 2015 at 11:42Government Calls for Comments on Proposed Plan of Phasing-Out Exemptions and Deductions under the Income-Tax Act in Order to Bring Down Rate of Corporate Tax from 30% to 25% The Union Finance Minister Shri Arun Jaitley in his Budget Speech 2015 had i
Draft interpretation on uncertainty over income tax treatments
09 November 2015 at 11:11Draft Interpretation published by the IFRS Interpretations Committee for comment only. Comments on the Draft Interpretation need to be received by December 21, 2015. The International Accounting Standards Board�s IFRS Interpretations Committee
Taxation of income from off-shore Rupee Denominated Bonds
30 October 2015 at 10:36Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASENew Delhi, 29th October, 2015Subject: Taxation of income from off-shore Rupee DenominatedBonds-reg.The Reserve Bank of India has recently permitted I
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