Income Tax News

CBDT Extends Time-Limit for Filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12 Till 31.03.2014 for Returns E-Filed with Refund Claims

26 February 2014 at 17:52

The Central Board of Direct Taxes (CBDT) has extended the time-limit for filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns e-filed with refund claims within the time allowed under section 139 of the Inco

Posted in Income Tax | 9 comments | 38550 Views

Transfer of Non-Gazetted Staff from one charge to another under Central Board of Direct Taxes -Relaxation of conditions

26 February 2014 at 16:51

Transfer of Non-Gazetted Staff from one charge to another under Central Board of Direct Taxes –Relaxation of conditions

Posted in Income Tax | 18873 Views

Rules for Issuing Pan Card

22 February 2014 at 16:08

The Income Tax Department has made changes in rules for issuing Permanent Account Number (PAN) Card. It has vide notification S.O. 3794 (E) dated 23.12.2013, amended Rule 114 of the Income-tax Rules, 1962 to provide , inter alia, that the application

Posted in Income Tax | 18 comments | 41988 Views

Indian Economy to be Third Largest by 2043 UPA Outlines Ten Steps for a Vibrant Economy

17 February 2014 at 14:07

While presenting the Interim Budget 2014-15, the Union Finance Minister Shri P Chidambaram said that in the next three decades India will become the third largest economy behind USA and China. In future, the fortunes of China

Posted in Income Tax | 2 comments | 22044 Views

Loading, Unloading, Packing, Storage and Warehousing of Rice also Exempted from Service Tax

17 February 2014 at 13:51

Loading, Unloading, Packing, Storage and Warehousing of Rice also Exempted from Service Tax; Cord Blood Banks also get the Same Relief Finance Minister, Shri P. Chidambaram has proposed to exempt loading, unloading, packing, storage and warehousing o

Posted in Income Tax | 12 comments | 25068 Views

Major Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit

17 February 2014 at 13:43

The Union Finance Minister Shri P. Chidambaram has announced a Moratorium period for all education loans taken-up to 31.3.2009 and outstanding on 31.12.2013. Government will take over the liability for outstanding interest as on 31.12.2013, but the b

Posted in Income Tax | 21 comments | 32463 Views

Fiscal Deficit to be Contained at 4.6 Per Cent of GDP in 2013-14

17 February 2014 at 13:40

The fiscal deficit for the financial year 2013-14 will be contained at 4.6 per cent of GDP. Stating this in his Interim Budget speech for the financial year 2014-15, the Finance Minister, Shri P. Chidambaram, said that the Current Account Deficit (CA

Posted in Income Tax | 16254 Views

Direct Taxes Code (DTC) to be put on the website of the ministry for public discussion

17 February 2014 at 13:34

Direct Taxes Code (DTC) will be put on the website of the Ministry of Finance for a public discussion without partisanship or acrimony. This was stated by the Finance Minister, Shri P. Chidambaram while presenting Interim Budget 2014-15 in Parliament

Posted in Income Tax | 6 comments | 28965 Views