registrations

The amount donated towards charity attracts deduction under section 80G of the Income Tax Act. Section 80G has been in the law book since financial year 1967-68 and it seems it's here to stay. Several deductions have been swept away but the tax sop for donations appears to have survived the axe. The main features of tax benefit with respect to charity are as follows: Full Article

Mumbai: Revenue department has approved a proposal to levy a flat 1% charge on property registrations with immediate effect, doing away with the Rs30,000 ceiling. Revenue minister Narayan Rane lifted a stay on an earlier order of the government. The decision on the 1% property registration fee was taken by then revenue minister Patangrao Kadam early this year but was stayed ahead of elections. Full Article

This new service is a new centralised web based software application of CBEC which provides us an online electronic interface with the department. ACES aims to reduce paperwork, visits to the department and transaction costs while increasing accountability, responsiveness, efficiency and transparency in indirect tax administration. Full Article

It’s not just high-value property transactions that come under the IT’s hawk eyes. The income tax department will scrutinize property deals of even Rs 5 lakh and above to tap tax dues. Thus, the trap is set for those who undervalue their properties to escape the IT net. Sub-registrars have been asked to submit details [...] Full Article

RELAXATION IN CUT-OFF DATE The actual cut-off date for acceptance of Registration Applications relating to Executive Programme for appearing in one module in December, 2009 Session of Examinations is 31st May, 2009. However, in view of the fact that the said date is falling on an official holiday (Sunday), the next working day i.e. 1st June, [...] Full Article

1. New Users can register their Digital Certificate during registration process 2. During Registration and Forgot Password, Captcha Image needs to be entered by the user for verification. If the image is not clear for the user, they can refresh and get a new image 3. After successful registration of user, User Activation URL sent [...] Full Article

A month after the government allowed registration of Limited Liability Partnerships, only 10 firms have availed this new form of doing business that provides advantages of a partnership firm and also a corporation. This is because the government is yet to notify key sections (Sections 55 to 58) of the law that would enable conversion of [...] Full Article

Filing of Income Tax returns is a legal obligation of every Individual/HUF whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961. Income Tax Department has introduced a convenient way to file these returns online using the Internet. Full Article