Income Tax News

CBDT has released a discussion paper on Tax Accounting Standards

17 October 2011 at 19:08

CBDT has released a discussion paper on Tax Accounting Standards for inviting comments/suggestions from all the stake holders. This discussion paper has been approved by the Honorable Finance Minister. Check the Attached file for Details...

Posted in Income Tax | 1 comments | 8250 Views

CBDT has released Circular on Tax deduction at source on the deposits in banks

17 October 2011 at 11:36

Tax deduction at source on the deposits in banks in the name of the Registrar/Prothonotary and Senior Master attached to the Supreme Court/ High Court etc during the pendency of litigation of claim/compensation-reg.

Posted in Income Tax | 9660 Views

E-Filing in F.Y 2011-12: Quick Statistics (as on 30th September 2011)

08 October 2011 at 13:11

QUICK HIGHLIGHTS OF E-FILING IN F.Y. 2011-12 (UPTO 30/9/2011) COMPARATIVE GROW

Posted in Income Tax | 4 comments | 7830 Views

Direct Tax Collection Figures for April-September 2011

08 October 2011 at 11:21

Gross direct tax collection during the first half of the current fiscal (April-September 2011) was up by 23 percent at Rs 257,042 crore as against Rs 208,971 crore in the same period last fiscal. While gross collection of corporate taxes was up 23

Posted in Income Tax | 5412 Views

Due Date of Filing of Returns of Income for Assessment Year 2011-12 Extended in Sikkim

05 October 2011 at 21:07

On consideration of the reports of disturbance of general life caused due to earthquake in the State of Sikkim, the Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income Tax Act, 1961, has extended the

Posted in Income Tax | 21765 Views

Filing of e-return by Legal Heir (LH) using DSC: Revised Process

30 September 2011 at 18:20

This is regarding cases where the assessee has expired but a return has to be filed by LH using his DSC. Following process is suggested in above regard : The legal heir (LR) has to get a DSC in his own name. LH is required to make a request by

Posted in Income Tax | 2 comments | 9873 Views

IRCS to Get benefits under Income Tax Act

27 September 2011 at 17:08

The Union Health Minister and Chairman of Indian Red Cross Society and St John Ambulance (India), Shri Ghulam Nabi Azad today presided over the General Body meeting of the two organizations on behalf of the President of India Smt. Pratibha Devisingh

Posted in Income Tax | 7047 Views

During April - August 2011, Gross Direct Tax Collections up by 25.89 Percent

09 September 2011 at 12:21

Gross direct tax collections during the first five months of the current fiscal (April - August 2011) were up by 25.89 percent at Rs.154,360 crore as against Rs.122,618 crore in the same period last fiscal. While gross collection of corporate taxe

Posted in Income Tax | 1 comments | 3999 Views

To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes

08 September 2011 at 11:23

To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes, Procedures Innovative Ways of Taxation Especially Related to Cross Border Taxatio

Posted in Income Tax | 1 comments | 4683 Views