Recent Posts
F.A.Q. on Indian Income Tax Laws!
Return To Blog Listing
A blog to refer as solution to your problem about Indian Income Tax Laws. Readers can also ask question on Income Tax. The format of blog is kept as F.A.Q .
Recent Posts Tagged With 'a news u can use'
Return Filing & Obtaining Tax Audit Report Date Extended For Pune, Satara, Kolhapur and Sangli Taxpayers !
Central Board of Direct Tax has extended the date of filing the return as well as for obtaining the tax audit report to 31st October 2009 for taxpayers of Pune, Satara, Kolhapur and Sangli districts in Maharashtra in view of Swine Flu and riots in th...
How Buying Property After 1st October 2009 May Make You Liable to Tax ?
1st October is a black day for individual and common man as far as taxation law is considered. In its attempt to stop black money , Finance Act 2009 brought in drastic amendment in section 56(2)(vii) by which two class of tax payers are affected : In...
Highest Ever Cost Inflation Index Notified For FY 2009-10!
Highest ever Cost Inflation Index notified by Central Govt. The cost inflation index is used when you compute the long term capital gains on sale of a capital asset. Therefore, higher CII means, less taxable lng term gains. Read the notification belo...
Filing Information About Remittance of Foreign Exchange A Must Now!
CBDT has issued Circular No. 04/2009 dated 29/06/2009 by which procedure to file information regarding foreign exchange remittance electronically is now made must . The gist of the circular is given below: Section 195 of the Income-tax Act, ...
Can Nominee of Deceased Prevent TDS on Deposit in Senior Citizen Savings Scheme
Yes, the good news is that now nominee of the deceased can file 15G or 15 H Form to the banks where the deceased had made deposits in Senior Citizen Savings Scheme 2004. Please read the circular of RBI to banks in this regardRBI/2008-09/493 Ref. No. ...
Got Long Term Capital Gains? Buy NHAI 54EC Bonds Now!
National Highway Authority of India has invited application for tax free bonds eligible for investment u/s 54EC. So , anyone who has long term capital gains in hand and wants to save tax can invest in the 54EC bonds issued by NHAI . The application a...
CBDT Extends Dates For Claiming Higher Depreciation Benefits on Commercial Vehicle Purchase!
It was reported earlier on this blog CBDT Notifies Enhanced Depreciation and Changes Due Date For Filing Quarterly Statements of TDS in Case Of Non Residents . Now the Central Board of Direct Taxes have issued a notification vide S.O. 989(E) dated 2...
How To Verify Tax Payment Status Through SMS?
Now the status of tax payments through challans can be verified through SMS. This facility has been launched by NSDL. The procedure of verifying the tax through SMS is as underThe tax payer can send an SMS to 575758 with a message containing the word...
News For 1st April 2009 -Use Any ATM Without Charges, PAN Costlier & Limited Liability Partnership Came Into Existence
Three important things will affect all citizen of this country from 1st April 2009. These are :1. Draw money from any ATM without any charges.As per the RBI circular , banks will not charge any fee for cash withdrawals using ATM and debit cards issu...
Online Payment Of Tax Without Having A Bank Account Possible Now!
A news you can useConfusion regarding the e-payment of tax has been cleared by CBDT through its circular no 5/2008 dated 14/7/2008 by which it has been stated thatA person can pay tax from any one's bank account.TDS/TCS are also covered in the word ...
Don't Attach TDS / TCS Certificate With Return!
A News You Can Use.CBDT has issued a circular to mitigate the problem faced by tax payers while filing return . That the Return is annexure less was made clear earlier , however because of an amendment in section 139(9) , it was amended that the TDS/...
REC Bonds Issued. Hurry Up!
We want to invest interest gained on National Saving Certificates in REC or NHA bonds. Can we get benefit under Sec. 54-EC ? Babu hai Choudhari , AhmedabadI sold my plot in Dec2007 and got Long Term Capital Gain of about Rs.7.6 Lacs. Currently there ...
Check Your Refund Status Online Now!
A News You Can Use NSDL which established Tax Information Network on behalf of income tax department has put following on its website for tax payers. The refund banker pilot scheme has commenced from 24th Jan 2007. It is now operational for t...
PAN Percentage FOR TDS/TCS Return Enhanced!
News You Can Use No.402/92/2006-MC (10 of 2008) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi dated the 12th February 2008 PRESS RELEASE All tax deductors / collectors are required...
Date For TDS Return For September 2007 Extended !
A News You Can Use F.No. 275/6/2008-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Tax ***** New Delhi dated 28th January 2008 Subject :- Order under section 119(2)(a) of ...
Rule For Valuation Of Specified Security For FBT Notified!
A News You Can UseCBDT has notified new rules for valuing the specified securities for the purpose of fringe benefit tax. The rule 40D given below is self explanatory [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART -II- Section ...
ePayment Of Tax Now Mandatory!
A News You Can Use Companies and all assessee for whom tax audit u/s 44AB is mandatory are now required to file tax ONLINE only. Read the press release which is self explanatory. No.402/92/2006-MC (05 of 2008) Government o...
Good News! Investment In Sr.Citizen Savings & 5 Year PO Time Deposit Eligible For 80C deduction.
A news You Can UseRead the following press release given on income tax department's site regarding the eligibility of two new savings scheme as far as 80C deduction is concerned.PRESS RELEASESection 80C of the Income-tax Act provides for a deduction...
