Income Tax News


Net Direct Tax Collections Register Growth of 20.37% During April 2010 -January 2011

   08 February 2011 at 10:24

Net Direct Tax Collections Register Growth of 20.37% During April 2010 –January 2011 Net direct tax collections during the period April 2010 to January 2011 stood at Rs.3,17,501 crore, up from Rs.2,63,765 crore in the same period last fis

Posted in Income Tax |   2730 Views


CPC commences issue of refunds for AY 2010-11 returns

   02 February 2011 at 11:19

CPC commences issue of refunds for AY 2010-11 returns Centralized Processing Center (CPC), Bangalore has begun processing of returns for AY 2010-11. As on 31/1/2011 it has processed over 31.3 lakh e-filed returns of AY 2010-11 in ITRs 1, 2, 3, 4

Posted in Income Tax  4 comments |   8097 Views


Income limits for assigning cases for Deputy Commissioners / Assistant Commissioners / ITOs

   02 February 2011 at 11:13

Income limits for assigning cases for Deputy Commissioners / Assistant Commissioners / ITOs

Posted in Income Tax  1 comments |   9789 Views


Tax collection targets for the current financial year increased

   24 January 2011 at 10:09

Tax collection targets for the current financial year increased; FM calls for more focus on increasing service tax collections; Shri Pranab Mukherjee addresses review meeting of CBDT/CDEC in Chennai. Finance Minister Shri Pranab Mukherjee ha

Posted in Income Tax |   6543 Views


ICAI submits its suggestions on the Direct Taxes Code Bill, 2010 to the Parliamentary Standing Committee on Finance

   14 January 2011 at 11:32

ICAI submits its suggestions on the Direct Taxes Code Bill, 2010 to the Parliamentary Standing Committee on Finance

Posted in Income Tax |   8877 Views


Rejection of TDS/TCS statements - Common errors and course of action

   29 December 2010 at 11:41

Rejection of TDS/TCS statements Common errors and course of action a. What is course of action in case a regular statement is rejected? A. Please refer to Course of action regular rejection for the common causes for rejection of

Posted in Income Tax  4 comments |   22632 Views


List of Notified Industrial Parks, CBDT

   15 December 2010 at 11:43

List of Notified Industrial Parks, CBDT

Posted in Income Tax |   5766 Views


CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

   15 December 2010 at 10:17

CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acqui

Posted in Income Tax |   4950 Views


Processing of ITR-I and ITR-2 returns - credit for tax deducted at source for A.Y. 2009-10 - clarification regarding

   14 December 2010 at 12:09

Processing of ITR-I and ITR-2 returns – credit for tax deducted at source for A.Y. 2009-10 – clarification regarding. INSTRUCTION NO. 9/2010 [F. NO. 225/25/2010/IT (A-II)] DATED 9-12-2010 1. Reference may be made to Board’s

Posted in Income Tax |   7353 Views


Parameters for processing of E-TDS Returns - issuance of instruction - regarding

   14 December 2010 at 12:08

Parameters for processing of E-TDS Returns – issuance of instruction – regarding INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)] DATED 8-12-2010 In the present system of processing of e-TDS returns, the returns are processed onl

Posted in Income Tax |   7011 Views