Income Tax News

Income-tax deduction from salaries during the financial year 2011-2012 under section 192

23 August 2011 at 15:43

CIRCULAR NO 05/2011 Dated: August 16, 2011 Reference is invited to Circular No.08/2010 dated 13.12.2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192

Posted in Income Tax | 1 comments | 132561 Views

RBI and 926 branches to accept Advance Income Tax

18 August 2011 at 11:25

As many as 926 computerised branches of public and private sector banks will receive advance income tax in Mumbai and Navi Mumbai. These arrangements have been made for the convenience of the income tax assesses. Of the 926 bank branches 862 branc

Posted in Income Tax | 5745 Views

Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN

17 August 2011 at 13:05

Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN, rejection using consolidated file for the period April 1, 2011 to June 30, 2011 and percentage of TANs registered at TIN for the period August 1, 2010 to

Posted in Income Tax | 7932 Views

One Day Seminar on Direct Tax Code by ICWAI

17 August 2011 at 12:23

The Institute of Cost and Work Accountant of India organized one day seminar on Direct tax Code the Draft of which released in August, 2009 for public comments. Since then, a number of valuable inputs on a proposals outlined in these documents have

Posted in Income Tax | 6159 Views

Instruction Regarding Standard Operating Procedure on Filing of Appeals to ITAT Under Section 253 and Related Matters

16 August 2011 at 14:19

INSTRUCTIONS REGARDING STANDARD OPERATING PROCEDURE ON FILING OF APPEALS TO ITAT UNDER SECTION 253 AND RELATED MATTERS INSTRUCTION NO. 08/2011 [F NO. 279/MISC./M- 43/2011-ITJ], DATED 11-8-2011 With a view to streamline the process of filing app

Posted in Income Tax | 6627 Views

Gross Direct Tax Collections up by 26.63 Percent

13 August 2011 at 12:05

Revised Press Release on Gross Direct Tax Collections:- up by 26.63 Percent and Stood at Rs.1,32,542 Crore during April-July,2011 Gross direct tax collections during the first four months of the current fiscal (April - July 2011) were up by 26.63

Posted in Income Tax | 1 comments | 4020 Views

e-Filing for AY 10-11:Quick Statistics (as on 31st July 2011)

06 August 2011 at 10:40

e-Filing for AY 10-11: Quick Statistics (as on 31st July 2011) QUICK HIGHLIGHTS OF E-FILING IN F.Y. 2011-12 (UPTO 31/7/2011) COMPARATIVE GROWTH OF E-FILING IN CURRENT YEAR

Posted in Income Tax | 9 comments | 18465 Views

11,69,238 Multiple Pan Cards Detected and Deleted

06 August 2011 at 10:10

No. of PAN CARD Holders: As on 31.3.2009 8,09,21,993 As on 31.3.2010 9,59,26,877 As on 31.3.2011 12,10,45,706

Posted in Income Tax | 6 comments | 10119 Views

Income Tax Department takes Several Punitive and Deterrent Steps to Unearth Unaccounted Money And Curb Tax Evasion

06 August 2011 at 10:10

No data is maintained in the Ministry of Finance regarding black money stashed abroad converted to white and brought back into the country by exploiting the provisions of no tax on dividend and capital gain in India. However, appropriate action as

Posted in Income Tax | 7281 Views

Release of Dos and Don'ts Manual by Chairman, CBDT

04 August 2011 at 14:05

Release of Dos & Don'ts Manual by Chairman , CBDT Manual of Dos & Don'ts covering various aspects of General Conduct, Financial administration, Tax administration and Vigilance Administration etc prepared by the Vigilance Directo

Posted in Income Tax | 5406 Views