Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962– comments and suggestions-reg. It is proposed to create a mechanism for self-reporting of estimates of current income, tax payments and advance tax liability by certain taxpayers viz.…
Category: Income Tax
Tax Audit Date for AY 2017-18 has been Extended
The Goods and Services Tax (‘GST’) has come into effect on 01.07.2017. In recent days, dates for filing various returns and forms under GST have been extended by the Government. In this backdrop,representations have been filed by various stakeholders requesting…
INCOME TAX SLAB RATES FROM A.Y. 2001-2002 TO 2017-2018
Income Tax Rates/Slabs for A.Y. (2001-02) Slab ((Rs) Tax (Rs) Surcharge Total Income>Rs. 60,000 Surcharge Total Income>Rs. 1,50,000 Less than 50,000 Nil Nil Nil 50,000 to 60,000 (TI-50,000) * 10% 12% 17% 60,000 to 1, 50,000 1,000+(TI-60,000) * 20% 12%…
E Verification of Income Tax Return in place of sending hard copy to CPC User manual
E Verification of Return User manual 1. e-Verification while uploading a return (Non – NetBanking) 2. e-Verification of an already uploaded return (Non – NetBanking) 3. e-Verification while uploading a return through NetBanking Login Share on: whatsapp
Now Verify your Income Tax Return Electronically No need to send ITR-V to CPC
Income Tax Department has issued Notification in this regard & detailed the following methods to verify your Income Tax Return Electronically via Electronic Verification Code (EVC) Share on: whatsapp
CBDT restricted Manual Refund of Income tax by AO
AST Instruction No. 136 Sub: Restriction on Issuance of Manual Refunds by Assessing Officers: Reg. Kindly refer to the above subject. 2. The functionalities for passing orders u/s 143(1) (a)/ 143(3)/154/ appeal effects/ penalty exist on the system and, progressively,…
CBDT issues Information Security Guidelines to stop disclosure of taxpayer’s information
Dated: July 10, 2015 Confidentiality of taxpayer information has always been a fundamental cornerstone of tax systems. The tax administration is obliged to keep the information submitted by the taxpayers, including their sensitive financial and personal information, confidential and is…
Black Money(Undisclosed Foreign Income and Assets) and Imposition of Tax Act (Removal of Difficulties) Order, 2015 effective form 01.07.2015
Black Money(Undisclosed Foreign Income and Assets) and Imposition of Tax Act (Removal of Difficulties) Order, 2015 – Now it shall come into force from the 1st day of July, 2015. – 56/2015 – Dated 1-7-2015 – Income Tax S.O.1790(E)- Whereas…
last dates for making a declaration in respect of an undisclosed asset located outside India and to pay the tax and penalty are 30-09-2015 & 31-12-2015
CG notified 30-09-2015 & 31-12-2015 as the dates for make a declaration in respect of an undisclosed asset located outside India and to pay the tax and penalty in respect of the undisclosed asset located outside India so declared, respectively.…
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 prepared by CBDT with the approval of the Central Government. – 58/2015 – Dated 2-7-2015 – Income Tax G.S.R. 529 (E).– In exercise of the powers conferred…