Income Tax : The Double Tax Avoidance Agreement (DTAA) is essentially a bilateral agreement entered into between two countries. The basic objec...
Income Tax : The Government believes that the tax payers should discharge their income tax liability simultaneously while earning and expects y...
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 be...
Income Tax : The Income-tax Appellate Tribunal, Mumbai in the case of Mrs. Bakhtawar B Dubash v. DCIT, Mumbai (ITA No. 403 1/Mum/03), Mrs. Sud...
Income Tax : In the previous chapter we studied the impact of proposed tax rates and concluded it is more in favour of the rich and not for mid...
Income Tax : Black sheep in tax administration...misused...powers...harassed taxpayers...honest assesses...taking excessive action for minor......
Income Tax : Increase in Number of Tax Payers in the Last Three Years The numbers of taxpayers have increased in the country during the l...
Income Tax : Individuals as well as corporates may have fewer occasions to meet the taxmen in future. The Central Board of Direct Taxes (CBDT) ...
Income Tax : The forthcoming Union budget may have an anti-avoidance provision, which can effectively check convoluted transactions devised exc...
Income Tax : To ensure impartiality in adjudication of transfer pricing disputes, the Central Board of Direct Taxes (CBDT) has decided that com...
The Government today extended the date for filing of income tax returns by a month in three districts of Maharashtra.”The due date of filing income tax returns, due by September 30, 2009, of tax payer assessed to income tax in the districts of Pune, Sangli and Kolhapur, has been extended to October 31, 2009,”the Central […]
Even as income-tax payers grapple with non-acceptance of their returns, it’s surely not a good time to expect refunds. Refunds across the country will be enormously delayed as the software at the new Centralised Processing Centre (CPC) of the I-T department is yet to be rid of bugs. The net result is that processing tax returns […]
The new centralised system for processing excise and service tax which would the save tax payer’s time and money would be rolled out across the country by the end of this year, CBEC Additional Director General of Systems D P Dash said here. The new system– Automation of Central Excise and Service Tax (ACES) – […]
Aimed at retail assesses, state-owned Corporation Bank will offer income tax returns filing facility through its 1000-plus strong ATM network spread across the country, a top company official said. “We are offering a service for filing of Income Tax (I-T) returns for Corporation Bank debit card holders through our network of 1,000 plus ATMs in […]
The Income Tax Department is gearing up to use identity-search technology to manage the swelling data base of taxpayers, a move that will make tax evasion difficult and bring to book habitual defaulters. In order to effectively manage the database of taxpayers, the Director General of Income Tax (Investigation) has invited bids from companies for developing a software, which can undertake identity search of taxpayers across the country.
