Income Tax News

Long term capital exemption may go ...

07 August 2007 at 23:19

The Central Board of Direct Taxes (CBDT) is considering a proposal to restrict the exemption on long-term capital gains only to companies constituting the BSE-500 index. At present, the exemption under Section 10 (38) is allowed on transactions of sh

Posted in Income Tax | 2934 Views

Cost Inflation Index for Financial Year 2007-08

07 August 2007 at 04:59

The Cost Inflation Index for the Financial Year 2007-08 has been notified as 551 vide NOTIFICATION NO. 214/2007, DATED 3-8-2007.

Posted in Income Tax | 8160 Views

ITR-5 released in Excel Format by Income tax Dept

06 August 2007 at 10:01

The Income Tax department has devised ITR-5 in Excel format. To download the file click on the link given below.. http://www.caclubindia.com/files_display.asp?files_id=893

Posted in Income Tax | 4185 Views

E-PAYMENT MADE MANDATORY FOR CORPORATES

04 August 2007 at 23:24

E-PAYMENT MADE MANDATORY FOR CORPORATESThe office of the Andhra Pradesh Chief Commissioner of Income Tax today informed that e-payment of Direct Taxes was mandatory for Corporate Tax payers and those coming under the purview of Sec 44 AB, with effect

Posted in Income Tax | 3399 Views

CBI registers a case against former Director General (Income Tax) and conducts raids

04 August 2007 at 22:50

CBI registers a case against former Director General (Income Tax) and conducts raids The Central Bureau of Investigation has registered a case against a former Director General (Investigation), Income Tax, Pune, an Income Tax Officer & othe

Posted in Income Tax | 3327 Views

CBI raids Income Tax Official: Locates assets worth several Lakh Rupees

04 August 2007 at 22:48

New Delhi, 14.06.2007 CBI raids Income Tax Official: Locates assets worth several Lakh Rupees CBI''s Anti-Corruption Branch of Delhi, after registering a case under Prevention of Corruption Act against an Income Tax Inspector, today conduc

Posted in Income Tax | 5709 Views

High Court Order on ITRs

04 August 2007 at 07:39

SCA/18793/2007 3/3 ORDERIN THE HIGH COURT OF GUJARAT AT AHMEDABADSPECIAL CIVIL APPLICATION No. 18793 of 2007====================================== ALL GUJARAT FEDERATION OF TAX COUNSULTANTS THRO' PRESIDENT & 4 - Petitioner(s)VersusUNION OF INDIA THRO

Posted in Income Tax | 3657 Views

IT Department Refuses to Accept ITR-V !

03 August 2007 at 06:41

03/08/2007 Cuddalore,The Income Tax Office at Cuddalore, Falling under the Commissionerate of Pondicherry refused to accept ITR-V.The ITO of TDS Ward Cuddalore, refused blatantly to accept ITR-V (Generated by the Department's Website). He insisted

Posted in Income Tax | 2604 Views

CAs ARE ALLOWED TO BE E-INTERMEDIARIES !!

01 August 2007 at 23:21

NOTIFICATION NO. 210/2007, DATED 27-7-2007 In exercise of the powers conferred by sub-section (1B) of sections 139 and 139D of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (3) of rule 12 of the Income-tax Rules, 1962 and in supercession o

Posted in Income Tax | 5730 Views

Stay Of High Court

01 August 2007 at 04:26

Allahabad high court on Friday issue directions to Income Tax Department to accept the return on old salar forms 2-D in public interest case.For submitting reply on new forms two weeks time allowed.

Posted in Income Tax | 3819 Views