Income Tax : Discover the tax benefits for senior and very senior citizens for FY 2022-23, including higher exemption limits, interest deductio...
Income Tax : Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation in...
Income Tax : Section 54EC of the Income Tax Act, 1961 provides exemption from long-term capital gains tax provided an assessee invests within s...
Income Tax : Under the latest provisions, any sum of money received without consideration (in excess of Rs 50,000), by an individual or Hindu U...
Income Tax : Under the provisions of Section 56(2)(vi) certain gifts are liable to income tax as income from other sources. However, this provi...
Income Tax : Calculate Long term capital gain on sale of capital Assets other then shares with the help of Indexation.- We have given below the...
Income Tax : National Securities Depository Limited (NSDL) processes PAN and TAN applications on behalf of Income Tax Department. With a view t...
Income Tax : As many as 926 computerised branches of public and private sector banks will receive advance income tax in Mumbai and Navi Mumbai....
Income Tax : Tax defaulters beware! With tax recovery to the tune of more than Rs one lakh crore held up for lack of information about the wher...
Goods and Services Tax : Though the Goods and Services Tax (GST) bill has been tabled in the Lok Sabha, the Gujarat government today said in the state Asse...
Service Tax : The making and sale of advertising materials for customers in the form of banner or hoarding or film-slide, etc. is `advertisement...
Income Tax : Search & seizure action u/s 132 was undertaken at the assessee’s premises. Thereafter an order of provisional attachment u/s 281...
Income Tax : 6. We have verified the orders and heard:the rival contentions. There is no dispute that there was a qualification in the auditors...
Income Tax : 3. We have duly considered the rival contentions and gone through the records carefully. Learned Assessing Officer as well as lear...
Income Tax : 10.1 It is the common stand of both - the applicant and the Revenue, that the nature of income arising from the transfer of the ap...
Goods and Services Tax : Considering the genuine difficulty faced by the Trade in this respect, the instructions contained in Trade Circular No.8T of 2005 ...
Income Tax : Ministry of Law & Justice, Department of legal Affairs, New Delhi Notification Dated : 3rd June 2009 GSR 889 (E). In exercise of t...
Finance : Accounting for taxes on income – Accounting Standard 22 – Treatment of deferred tax assets (DTA) and deferred tax liab...
Income Tax : Notification No. 47/2009 - Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Incom...
Income Tax : CIRCULAR NO. 02 / 2009 One of the fundamental principles of financial accounting is that if a person claims credit for payment o...
After its attempt to tax industrialist Nusli Wadia on his land deals ran into trouble, the income tax department is exploring another avenue. Two years ago, the I-T department demanded Rs 31 crore as tax for the money Wadia made by selling around 110 acres of land at Mindspace along the Goregaon-Malad Link road. Wadia’s appeal […]
The Reserve Bank on Thursday said 926 branches of private and public sector banks have been designated for receiving advance income tax in Mumbai and Navi Mumbai. “Arrangements have been made for the convenience of the income tax assesses. Of the 926 bank branches, 862 are public sector bank bank branches, 35 HDFC bank branches, […]
The finance ministry on Thursday indicated to an industry delegation that it should not expect a further lowering of corporate, excise and service taxes in the Budget to be presented by the next finance minister. “Revenue secretary Mr P V Bhide . . . indicated that no further relaxation in excise and service taxes could be […]
As you are kindly aware, the Central Board of Direct Taxes has issued an Instruction no.12/2008 dated 5th September 2008 for clearing the large pendency of returns for the Assessment year 2007-08. We heartily appreciate the efforts being taken by the Central Board of Direct Taxes to meet up its target for speedier processing of returns.
Direct tax rates may be tinkered by new government that may present its first budget later next month, according to a study. This may be in line with changed taxation policies followed by most governments worldwide to beat slowdown and recession that set in following global financial turmoil.
The Central Board of Direct Taxes have decided to defer the implementation of Notification No.31/2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962. The amended / substituted Rules will now come into effect on 1st July 2009 instead of 1st April 2009.
On the request of my viewers I have uploaded some of the Income Tax forms in Excel, Word and PDF Format. Although, I haven’t uploaded all the forms but I uploaded most of the important forms. If any viewers have any form other then those uploaded in excel word format he can mail those to us at our mail id info@taxguru.in and we will upload the same on our website for the benefit of other viewers.
To, The Chairmen/Executive Officers All the Regional Councils & Chapters of ICSI The Council of the Institute in its 183rd meeting held on 8th-9th November, 2008 has approved the new training structure as under. I. Duration of training It was decided that the present period of training of 15 Months may be continued. It was decided that […]
Filing that service tax or excise duty for small and medium businesses on time are about to become easier, considering the developments at the Central Board of Excise and Customs. The announcement of a new ‘E-payment service’ and ‘Automated Central Excise and Services’ was made today at the FAPCCI Bhavan, where the National Academy of […]
THE PRESIDENT ICAI has written letter dated 5th May, 2009 , to The Chairman, CBDT and sought clarification on Clarification regarding new Form No.17. Respected Sir, Sub: Clarification regarding new Form No.17 The Income-tax Rules relating to time and mode of payment to Government account of – (1) tax deducted at source; or (2) tax paid under Chapter XVII-B; […]
