ITR 5 is applicable for assessment year 2011-2012 only, i.e., it relates to income earned in Financial Year 2010-11 and can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4)(a) or 139(4)(a) or 139(4)(b) or 139(4)(c) or 139(4)(d) shall not use this form. Instructions for filling out New Income Tax Return Form ITR-5 applicable for A.Y. 2011-12 New ITR 5 in excel format for Assessment Year 2011-12 and Financial year 2010-11
ITR 5 Form can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4)(a) or 139(4)(a) or 139(4)(b) or 139(4)(c) or 139(4)(d) shall not use this form.
Recently ITAT Mumbai in the case of ITO vs. United Marine Academy (Mumbai ITAT) held that Assessing Officer thus was right in applying the provision of section 50C to the transfer of depreciable capital assets covered by section 50 and in computing the capital gain arising from the said transfer by adopting the stamp duty valuation.
Explore the judgment in Miscellaneous Appeal No. 620/2009 – Commissioner of Central Excise, Patna vs. H M Media, Patna, regarding abatement of service tax.
In the first major operation in the current financial year, income tax (I-T) department officials cracked on four real estate groups in the city on Wednesday. Suspecting tax evasion and parking of black money, the IT officials began search and survey on 60 premises, including offices, houses and project sites of the groups on Wednesday afternoon.
The Chairman of Central Board of Direct Taxes ( CBDT), Sudhir Chandra, today said the scheme to exempt salaried people earning up to Rs 5 lakh annually from filing income tax returns will be notified in the first week of June. The scheme was announced in the Union Budget 2011-12 by Finance Minister Pranab Mukherjee.
29th April 2011 -These rules may be called the Companies (Central Government’s) General Rules and Forms ( Amendment ) Rules 2011. (2) These rules shall come into force from 1st May 2011. 2. In the Companies (Central Government’s) General Rules and Forms, 1956, in Annexure ‘A’ for Form 2, Form 3, Form 18, 23C and Form 32, the following Forms shall be substituted ,
“Since the rate of interest (on deposits) for 2010-11 has been declared as 9.5 per cent per annum, settlement of claims of the EPF subscribers during 2011-12 shall be made at 9.5 per cent per annum till rate of interest is declared for 2011-12,” said an order issued by the Employees’ Provident Fund Organisation (EPFO).
IRDA requests for proposal from reputed Firms/Organizations to report on industry-wide trends of fraudulent behaviour affecting the insurance industry. The detailed RFP document is attached (.pdf document) .Last date for receipt of BIDS is 20th May 2011 by 3:00 PM
CA has now permitted companies to send the Annual Report to the Shareholders through email subject to following conditions: The email address of the shareholder is registered with the Company; Company’s website has full text of the Annual Report and the same is easily accessible; Company has published a notice in local and English newspaper that the copies are put up on the website and are available for inspection; Physical copy would be sent to any member whose email address is not registered; Any member insisting for physical copy would be provided with the same free of cost.
