Income Tax : The Government believes that the tax payers should discharge their income tax liability simultaneously while earning and expects y...
Income Tax : The issue of transfer price affects various types of taxes. Under Custom Laws, special valuation branch examines the validity of t...
Income Tax : Despite the fact that CBDT has made commendable effort to devise suitable annexures for electronic filing, in practical parlance, ...
Corporate Law : In a ruling that is bound to have ramifications, specially on big tax-payers , and in a move aimed at curbing tax evasion, the Cen...
Income Tax : After the judgment of the Supreme Court in the case of ACIT vs. Rajesh Jhaveri Stock Brokers (P) Ltd. delivered on 23-5-2007 and r...
Corporate Law : Finance Minister Shri Arun Jaitley inaugurates the Non-Tax Receipt Portal (NTRP); Portal provides a one-stop platform to citizens/...
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 : Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit...
Service Tax : The Delhi High Court in the Home Solution Retail India case had held that renting of immovable property is not a taxable service. ...
Income Tax : The I-T department has asked tax payers not to give out personal details like PAN card number and information about their credit c...
Service Tax : Trade Notice No. 19/2009 Rule 5 A was inserted in the Service Tax Rules, 1994 vide Service Tax (Sixth Amendment) Rules, 2007 ...
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 […]
Discover five easy-to-follow security tips for Indian tax payers filing their return online. Protect your personal information and prevent identity theft.
The income tax department is set to start an online ‘judicial reference system’ in order to streamline thousands of departmental cases being fought in various courts and I-T tribunals across the country. The facility, to be used by I-T department officials initially, will put in place all the cases, petitions and Special Leave Petitions (SLPs) […]
Trade Notice No. 19/2009 Rule 5 A was inserted in the Service Tax Rules, 1994 vide Service Tax (Sixth Amendment) Rules, 2007 (Notification No.45/2007 – ST dated 28.12.2007 refers). Attention is also drawn to the instructions issued by the Board vide F.No.137/26/2007-CX.4 dated 01.01.2008 in this regard
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.
Tax payers will now be able to lodge their grievances with the taxman at the click of a mouse, with the launch of an online complaint redressal mechanism on the lines of the existing e-filing facility of tax returns.
From 1st April 2008, payment of tax has been made mandatory for all corporate and firms covered under tax audit. During the first month, many practical issues were faced by depositors. Some of these are discussed below: Only few Banks authorised Only 27 banks are authorised to accept online payments. Persons not having account with […]
