incometaxindia

How to open your ITR V / ITR Acknowledgement

Income Tax - By now, many of you would have filed several tax returns of your clients or your own companies or even your own returns. It has been brought to our notice that this year, whenever an ITR form is filed electronically without the digital signature, the system shows that the ITR-V has been e-mailed to the e-mail ID registered with the Income...

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Income Tax Return (ITR) Filing Procedure for A.Y. 2009-10

Income Tax - ITR-1 return of income for individuals having income from salary/ pension/ family pension and not having any other income except income by way of interest Chargeable to income-tax under the head Income from other sources; (ii) ITR-2 return of income for Individuals and Hindu Undivided Families (HUFs) not having any income under the head P...

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Income Tax website to become user-friendly

Income Tax - The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL. The new online facility will host of several user-friendly features. The department’s Uniform Resource Locator (URL) – www.incometaxindia.gov.in – is undergoin...

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Tax Credits Available In the Annual Tax Statement for A.Y. 2008-09

Income Tax - The Income Tax Department (ITD) creates Annual Tax Statement of each taxpayer using their Permanent Account Number (PAN) as identifier. The tax statement contains details of tax paid by the taxpayer himself (self assessment/advance tax) and also details of tax deducted/collected from him during the financial year. ...

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E-filing of Income-tax return forms

Income Tax - As you are kindly aware, the Central Board of Direct taxes came out with the new series of Income-tax return forms. The ICAI constituted a study group to analyze the same. Several suggestions, collected from all over the country and duly analysed were submitted to the CBDT. The CBDT accepted most of the suggestions of […]...

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TDS at a higher rate on all transactions not having pan to come into effect from 1st April 2010

Press Release No. 402/92/2006-MC (04 of 2010) - (20/01/2010) - Press Release No. 402/92/2006-MC (04 of 2010) A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Per...

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TDS on Salaries-Income Tax Provisions for Financial Year 2009-2010

Circular No. 1/2010-Income Tax - (11/01/2010) - The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2009-2010 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the...

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Recent Posts in "incometaxindia"

How to open your ITR V / ITR Acknowledgement

By now, many of you would have filed several tax returns of your clients or your own companies or even your own returns. It has been brought to our notice that this year, whenever an ITR form is filed electronically without the digital signature, the system shows that the ITR-V has been e-mailed to the e-mail ID registered with the Income...

Read More
Posted Under: Income Tax | ,

TDS at a higher rate on all transactions not having pan to come into effect from 1st April 2010

Press Release No. 402/92/2006-MC (04 of 2010) (20/01/2010)

Press Release No. 402/92/2006-MC (04 of 2010) A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deduc...

Read More

TDS on Salaries-Income Tax Provisions for Financial Year 2009-2010

Circular No. 1/2010-Income Tax (11/01/2010)

The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2009-2010 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department-...

Read More

Income Tax Return (ITR) Filing Procedure for A.Y. 2009-10

ITR-1 return of income for individuals having income from salary/ pension/ family pension and not having any other income except income by way of interest Chargeable to income-tax under the head Income from other sources; (ii) ITR-2 return of income for Individuals and Hindu Undivided Families (HUFs) not having any income under the head P...

Read More
Posted Under: Income Tax |

Income Tax website to become user-friendly

The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL. The new online facility will host of several user-friendly features. The department’s Uniform Resource Locator (URL) – www.incometaxindia.gov.in – is undergoin...

Read More
Posted Under: Income Tax |

Tax Credits Available In the Annual Tax Statement for A.Y. 2008-09

The Income Tax Department (ITD) creates Annual Tax Statement of each taxpayer using their Permanent Account Number (PAN) as identifier. The tax statement contains details of tax paid by the taxpayer himself (self assessment/advance tax) and also details of tax deducted/collected from him during the financial year. ...

Read More
Posted Under: Income Tax |

E-filing of Income-tax return forms

As you are kindly aware, the Central Board of Direct taxes came out with the new series of Income-tax return forms. The ICAI constituted a study group to analyze the same. Several suggestions, collected from all over the country and duly analysed were submitted to the CBDT. The CBDT accepted most of the suggestions of […]...

Read More
Posted Under: Income Tax |

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