Income Tax

Data Covers Figures of 1. Direct Tax Collection 2. State and U.T. Wise Break-Up of Collection3. Contribution of Direct Taxes to Total Tax Revenue4. Direct-Tax GDP Ratio 5. Pre-Assessment and Post-Asse...

Income Tax Department has released details of Tax Payers to whom the Income PAN Cars is been allotted during the Financial Year 2013-14. It shows the the same based on Status of Taxpayer i.e. Individu...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 29th April, 2016 Subject: Release of Data by Income Tax Department – reg. Income Ta...

CBI ARRESTS TWO INCOME TAX OFFICERS AND A PRIVATE PERSON IN AN ALLEGED BRIBERY CASE OF RS.2.5 LAKH The Central Bureau of Investigation has arrested two Income Tax Officers posted at Belagavi & Vijapur...

Revised TDS / TCS Compliance and Rates w.e.f. 01.06.2016 Revised Compliance Regarding TDS w.e.f. 01.06.2016- Comprehensive & Comparative Analysis Under the scheme of deduction of Tax at Source as prov...

Sub Rule 2 of Rule 31A of Income Tax Rules specifies the due date for filing of (a) Statement of deduction of tax under section 192 in Form No. 24Q; (b) Statement of deduction of tax under sections 19...

CBDT has Vide notification no. 30/2016 dated 29-04-2016 extended Due date for payment of TDS on transfer of immovable property u/s 194IA to 30 days from existing 7 days. Section 194IA requires buyer o...

Salaried Employees furnish a deceleration to their employer in respect of Income Tax Deduction they are eligible under various provisions of Income Tax alongwith Supportings. Employers consider these...

CBDT has vide Notification No. 30/2016 dated 29.04.2016 has inserted sub-rule Rule 3A and 3B and amended Sub Rule- 3 & 4 of Income Tax Rule-37CA related to Time and mode of payment to Government accou...

Article deals with FAQ related to Rectification of errors in case of return filed online. The article explains about how to file Rectification request, what if you get error in filing rectification u/...

Re-issue of Income Tax Refund – FAQ This Article deals with FAQ related to non receipt of Income tax Return due to Change in Address, Bank Details, Home Locked, Wrongs details of bank in ITR etc. In t...

Digital Signature – How to Register / Sign ITR & FAQ The Article explains what is a Digital Signature, Legality of the same, Role in Income Tax Return Filing, How and Where to get a Digital Signature...

Implementation of Ind AS & its impact on calculation of MAT Implementation of Ind AS and its impact on the calculation of MAT u/s 115JB of the Income Tax Act, 1961. From the FY 2016-17 Ind AS will be...

How to e-File Form 15CA and 15CB Form 15CA and Form 15CB has been prescribed by CBDT in respect of Various Foreign remittance to be made by the Assessee/Remitter. Form 15CA is a declaration by person...

1) Holding period for unlisted shares reduced from 3 years to 2 years for qualifying as long term capital asset; 2) Clarifies that dividend exceeding Rs. 10 lakhs shall be taxable u/s 115BBD; 3) Sever...

Dos and Don’ts for printing & submitting of ITR-V 1. Please use Ink Jet /Laser printer to print the ITR-V Form. Use of Dot Matrix printer should be avoided. 2. The ITR-V Form should be printed only in...

Online Upload of e-TDS/TCS statement(s) and AIR functionality will be discontinued from May 1, 2016 at NSDL e-Gov end. The users who are desirous to file e-TDS/TCS statements/AIR are hereby requested...

How to e-File Form 15CA and 15CB Form 15CA and Form 15CH has been prescribed by CBDT in respect of Various Foreign remittance to be made by the Assessee/Remitter. Form 15CA is a declaration by person...

Tips to save Income tax for Salaried Person Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. S...

Revised Compliance Relating to Quoting of PAN w.e.f 01.01.2016 Revised Compliance Relating To Quoting Of PAN w.e.f 01.01.2016 : Implications on Assessee liable for Audit U/s 44AB of the Act in Synopsi...