Income Tax news

Towards ENSURING quality Education

The department of School Education & Literacy is taking several steps to make school education job-oriented and qualitative. The Department is implementing a component of Vocationalisation of Secondary & Higher Secondary Education under Centrally sponsored scheme of Rashtriya Madhyamik Shiksha Abhiyan (RMSA)...

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Posted Under: Income Tax |

ITD searches about 2534 groups of persons

ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs. 45,622 crore apart from seizure of undisclosed assets (cash, jewellery etc) worth about Rs. 3,625 crore ...

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Posted Under: Income Tax |

Govt notifies Third Protocol Amending India-Singapore DTAA

Third Protocol amending India-Singapore Double Taxation Avoidance Agreement (DTAA) which was signed on 30.12.2016, has come into force on27.02.2017....

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Posted Under: Income Tax |

Download Finance Bill 2017 as passed by Lok Sabha

Lok Sabha passes  Finance bill 2017 on 22.03.2017 with 189 Amendments to following Acts and 9 related schedules:- Income Tax Act, 1961 and Rules Custom Act,1962 Excise Duty Act, 1944 Finance Act, 1994 The Indian Trusts Act, 1882 The Indian Post Office Act, 1898 The Reserve Bank Of India Act, 1934 The Representation Of The […]...

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Credit Linked Interest Subsidy scheme for tax paying Middle Classes

Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned house loans and applied for since January 1st eligible for interest subsidy of up to Rs.2.35 lakh each...

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Posted Under: Income Tax |

Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha

Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017. Some of the important amendment proposed are as follows :- 1. Appointment of, and remuneration to, the ITAT Member 2. Make Aadhar card mandatory for fil...

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Posted Under: Income Tax | ,

Aadhaar to be mandatory for income tax returns and PAN

Union government has proposed making Aadhaar mandatory for filing income tax returns and for obtaining Permanent Account Number (PAN) through proposed  amendments to the finance bill 2017. The government on 21.03.2017 proposed making Aadhaar mandatory for filing of income-tax returns as well as for obtaining and retaining the PAN. Accord...

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Watch movie on TDS awareness in 9 Languages

TDS- JAGRUKTA a movie by DTRTI, Kolkata in English, Hindi, Bengali, Marathi, Gujarati, Punjabi, Telgu, Tamil & Kannad has been released by Shri Gopal Mukherjee, Member ( Rev & TPS), CBDT....

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Posted Under: Income Tax |

Rollback provision in revised India-Korea DTAA- Clarification

The Central Board of Direct Taxes (CBDT) has clarified that under the revised India-Korea Double Taxation Avoidance Agreement (DTAA), applications for bilateral Advance Pricing Agreement (APA) involving international transactions with Associated Enterprises in Korea for the APA period beginning Fiscal Year 2017-18 can be filed along with ...

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Posted Under: Income Tax |

4.21 Crore Income Tax Returns e-filed till 28.02.2017

Number of e-filed Income Tax Returns in Financial Year 2016-17 (till 28.02.2017) was 4.21 Cr: The total amount of refund issued in the current fiscal (including refund arising out of rectification, appeal effect etc.) is Rs. 1,48,459 crore (till 28.02.2017)...

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Posted Under: Income Tax |
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