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This Blog relates to taxation law applicable in india. You can download various income tax forms, income tax calculators india from here. Check PAN card status from here. Download PAN card application forms here.
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First Discussion Paper on Goods and Service Tax (GST) Released
The discussion paper will inform how Goods and Service Tax (GST) will be composed. It possibly will available in the House in the forthcoming winter session as the deadline for introduction of GST is April 10, 2010. However, Mukherjee has already sen...
Tax Evaders Beware, TPIS is Coming
Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up t...
Tax Professionals in Demand due to Recent Amendments in Direct Tax and Indirect Taxes.
As you all know there have been major changes in Indian tax structure recently and deadline is very close to implementing Goods and Service Tax (GST) i.e. 1st April, 2010. The new tax framework is not so simple to comprehend for the layman. Corporate...
An Important Announcement for Students of Final (Old) Examination – Extension by two more attempts i.e. May, 2010 and November, 2010 – (27-10-2009).
BOS/Announcement/ 227/09, Dated:- October 26, 2009 Students are hereby informed that the Council of the Institute of Chartered Accountants of India, having due regard to the concerns of students belonging to Final (Old) stream, has decided to extend...
ICAI confirms – No Change in Nov Schedule
Chartered Accountants Examinations, November, 2009 Many queries from students/public about change in the schedule of Chartered Accountants Examinations, November, 2009 are being received. It is hereby clarified for information of all the Chartered Ac...
Highlights of e-Filing for A.Y.09-10 (up to 31/09/20009) State Wise
Highlights of e-Filing for A.Y.09-10 (up to 31/09/20009) State Wise HIGHLIGHTS OF e- FILING SEASON AY 09-10 ( up to 31/09/2009) (1) COMPARATIVE PROGRESS OF e-FILING OF RETURNS Form Type RETURNS RECD. FROM 01/04/09 TO 31/09/09 ...
E-Filing of Returns and Tax Payment Challanged in Kerla High Court
A writ petition has filed by The petitioner, Mr M.K. Haridas, who is the Manager of a Kochi-based partnership firm, submitted before the court that the notification is of a compulsory nature without any option for other mode of payment. He argued tha...
MVAT Registration Procedure is Going to be Online from Oct, 2009
TRADE CIRCULAR Date: 25th Sept, 2009 NO. MVAT/ Registration / e-101 Mumbai, Trade circular No:- 25T of 2009 Subject: – Procedure for on line submission of application for obtaining registration under the MVAT Act, 2002 Ref: – Notification...
Latest Bank Fixed Deposit Rates – FD Rates
Government of India has designated certain schemes as eligible for tax savings under Sec 80c of the IT Act. Amounts upto Rs. 1 lakh per year are deductible from taxable amounts under this provision. Schemes eligible under this provision include cer...
KPMG Accountant Jailed
A “spineless” director at leading accountancy firm, KPMG, was jailed for four years after trying to buy his second wife’s happiness with £550,000 stolen from his employer. Andrew Wetherall, 49, branded as “spineless” by the judge, spent y...
Clarification of TDS for Arrears to Govt. Employees
Clarification regarding deduction of tax at source (TDS) from payments of second installment of arrears to Government employees on account of implementation of Sixth Central Pay Commission’s recommendations. Circular No. 6/2009, dated 31-8-2009 Und...
Extension of Time Limit For Filing ITR-V Form
The Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified ITR-V form, within a period of 30 days, thereaf...
New Tax Code : 10% Tax upto Rs. 10 Lakh Income
A major relief to tax payer when the government on Wednesday introduced a new direct tax code that seeks to simplify the tax regime in India replacing the Income Tax Act 1961. According to new tax code / new direct tax code 10% tax up to Rs. 10 Lakh ...
Company Bill 2009 – Download
The Corporate Affairs Minister (Shri Salman Khurshid) has announced, in response to a question in the Lok Sabha, that the Company Bill will be reintroduced in Parliament as the Companies Bill 2009. Last year the Companies Bill 2008 was introduced in ...
Download Direct Tax Code Bill 2009
The Finance Minister on Wednesday unveiled the draft of a brand new direct tax code/law, which will replace the four-decade Income-Tax Act, “… to improve the efficiency and equity of our tax system by eliminating distortions in the tax st...
Draft of Direct Tax Code Released by FM
Finance Minister, Shri Pranab Mukherjee said, I propose to pursue structural changes in direct taxes by releasing the new Direct Taxes Code within the next 45 days and in indirect taxes by accelerating the process for the smooth introduction of the G...
Advance Tax Liability Increased to 10000 from 5000
Under the existing provisions of section 208 the Income-tax Act, liability for payment of advance tax during a financial year arises when the amount of such taxes payable during that year are Rs.5,000/-or more.However, It is proposed in the Union Bud...
Send ITR-V only by Ordinary Post
"Message from Income Tax Department" published on their website.Please furnish the Form ITR-V to the Income Tax Department , CPC, Post Bag No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka BY ORDINARY POST ONLY within thirty days af...
Economic Survey Highlights 2008-09
Economic growth decelerates to 6.7 per cent in 2008-09 compared to 9 per cent in 2007-08 and 9.7 per cent in 2006-07.Per capita growth at 4.6 per cent.Deceleration in growth spread across all sectors except mining and quarrying; agriculture growth fa...
Railway Budget Highlights by Mamta Banarjee | 2009-10
* No hike in passenger fares. * No hike in freight rates. * Book stores, PCOs to be set up across stations * Infotainment services on Rajdhani and Shatabdi trains * To take the private-public partnership route to develop stations * Pri...
Form 17, UTN, Form 24C applicability hold on till Next Press Release
Today(1st July, 2009) is the starting date of depositing TDS of Previous month i.e. june 2009 and as well as First date of Last Month for filing income tax returns. I have written about various post that about form 17 that was coming from 1st July 20...
CBDT Circular on new IT Returns and UTN for credit of TDS
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes….New Delhi, the 21th May, 2009Subject:- New Return Forms for Assessment Year 2009-10 – matters connectedthereto – regarding._______________________________...
Income Tax Return ITRs Preparation Software A.Y. 2009-10 by Income Tax Department
Income Tax Department has launched its new ITR Preparation Software for A.Y. 2009-10. Every new user has to register at this website in order to avail the e-Filing facility. After completing the registration process and logging in, the user may downl...
Press Release | New TDS/TCS Rules Applicable w.e.f. 1-7-2009 Instead of 1-4-2009
Finally Board has given press release for clarification regarding new TDS and TCS rules. Board Can issued it earlier. one min...... this clarification only for applicability of new TDS and TCS rules not for procedures...... as you........!all know th...
epayment of TDS Portal is not Available Yet
AS per the CBDT Notification No.31/2009 introducing the new challan From 17 with effect from 1st April, 2009 , all persons required to deduct tax at source (TDS) or collect tax at source (TCS) under the Income-tax Act will now be required to enter de...
MVAT Date of efiling VAT Returns Extended up to 10th May 2009
Trade Cir. No. 16 T of 2009No.VAT/VAT Ret/ Mumbai, Dt.30.04.2009Sub: Relaxation of the due date for the uploading of e returns for the period ending March 2009Ref: Trade Circular No 16T of 2008 dated 23-4-2008.Gentlemen/Sir/Madam,1. The due date for ...
Utility for e-filing of Income Tax Returns a.y.2009-10 has launched by Income Tax Deparment for Software Engineers
CBDT has notified the ITR forms for the A.Y. 2009-10 (F.Y. 2008-09) vide Notification dated 27th March, 2009. The Notification and new forms can be downloaded from the Downloads page.The Final Schema for Eiling for AY 2009-10 has been released and ca...
Punjab Pay Commission submits report, 27 percent average hike for all employees
The Chairman of the Fifth Punjab Pay Commission SK Tuteja Monday submitted the report to the State Chief Secretary Ramesh Inder Singh here at latter’ s office. Tuteja was accompanied by the members of the Commission Amarjit Singh Oberoi and Prof. B...
CST Reduced 2% to 1% Rejected by Centre
As you all know that Empowered Committee had earlier decided to reduce the CST rate from 2 percent to 1 percent w.e.f. 1 April 2009 and from 1% to zero from 1% April 2010, for the tendered commencement of the GST.The Centre has hold the agreement for...
Banking Cash Transaction Tax Abolished
Taxpayers will not have to pay levy on withdrawal of cash from banks with the Government withdrawing the Banking Cash Transaction Tax (BCTT) w.e.f. 01-04-2009The government had introduced 0.1 per cent BCCT in 2005 on cash withdrawals of more than Rs ...
