Income Tax News

IT Dep. moves SC on taxing dividend income from DTAA Nations ::

03 September 2007 at 18:33

NEW DELHI: The Income Tax Department has sought a ruling from the Supreme Court on a High Court decision that dividend income was non-taxable if it came from an entity from a country that has a double taxation avoidance agreement (DTAA) with India.Th

Posted in Income Tax | 2880 Views

Scope of e-TDS expanded

31 August 2007 at 15:52

Income-tax (Ninth Amendment) Rules, 2007NOTIFICATION No. 238/2007, dated 30-8-2007 In exercise of the powers conferred by section 295 read with sub-section (3) of section 200 and proviso to sub-section (3) of section 206C of the Income-tax Act, 1961

Posted in Income Tax | 5964 Views

BCTT helps Income Tax make dent into cash transaction

31 August 2007 at 11:45

ONE of the fall-outs of the rapid-paced globalisation phenomenon is the steady integration of the Indian financial markets. But it has so far not made a serious dent into the tendency to generateblack money. Let's recall the last week seizure of Rs 4

Posted in Income Tax | 3549 Views

All India transfer and promotion orders of Income Tax Commissioners

31 August 2007 at 11:37

New Page 1 All India transfer and promotion orders of Income Tax Commissioners / Directors and Addl. Commissioners. 28 August 07 F.No. A-32011/4/2006-Ad.VI Government of India Ministry of Finance Department of Revenue

Posted in Income Tax | 24039 Views

Close look at Tax numbers

29 August 2007 at 20:43

August, 29th 2007The Union government's tax revenues have maintained decent growth in the last three years. That is the broad picture. A closer look reveals something more interesting. The sharpest rise has been seen in revenues from direct taxes and

Posted in Income Tax | 4335 Views

LAW FOR CREDIT CARD PAYMENTS :: FM..!

27 August 2007 at 09:32

The government is planning to bring a new law to regulate credit card payment. While replying to a question regarding credit card problems, Finance Minister P Chidambaram told the Lok Sabha that such a move is in the offing. In his question, CPI(M) M

Posted in Income Tax | 4464 Views

Income-tax Department seeks exemption from 'Right to information' Act ::

27 August 2007 at 09:26

The income-tax department has asked the department of personnel and training to amend the Right to Information (RTI) Act to shield itself from unsolicited queries on its investigations. The RTI Act has exempted the department of revenue intelligence,

Posted in Income Tax | 3603 Views

HC ON NEW IT RETURNS..!!

23 August 2007 at 16:57

HIGH COURT OF ALLAHABADOm Prakash Tewariv. Union of India Section 139 of the Income-tax Act, 1961, read with rule 12 of the Income-tax Rules, 1962 - Return of income - General - Assessment year 2007-08 - Petitioners, lawyers/advocates, challenged In

Posted in Income Tax | 4065 Views

NO PAN ! NO REFUND ON FD EARNINGS...!

23 August 2007 at 08:37

Come April 2008, fixed deposit holders will not be allowed to avail any credit against taxes paid on their interest earnings if banks do not quote their PAN numbers.Many fixed deposit holders could be left in lurch as income tax department has tighte

Posted in Income Tax | 2979 Views

Direct tax Growth figures are pleasant facts!!

22 August 2007 at 12:42

Improved tax administration and a robust economic growth have started showing results. Continuing with its buoyant growth, the Centre's net direct tax collections grew 44.39 per cent since the beginning of the current fiscal till August 15 to Rs 59,2

Posted in Income Tax | 2616 Views