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Taxation News


CBDT chief for quick payment of IT refunds

   22 March 2011 at 12:18

CBDT chief for quick payment of IT refunds Issuance of about 15 lakh income tax refunds to taxpayers across the country has become a bone of contention between the I-T department and CBDT, with the Board chairman issuing instructions that failur ..

Posted in Taxation  2 comments |   1256 Views


Pranab likely to table bill on GST today

   22 March 2011 at 12:18

Pranab likely to table bill on GST today Finance Minister Pranab Mukherjee is likely to table a Constitution Amendment Bill in Parliament on Tuesday to facilitate implementation of Goods and Services Tax (GST). It will facilitate implementati ..

Posted in Taxation  1 comments |   996 Views


Cabinet clears GST Constitution Amendment Bill

   16 March 2011 at 20:55

Cabinet clears GST Constitution Amendment Bill The Union Cabinet has approved Constitution Amendment Bill to pave the way for implementation of Goods and Services Tax, a new indirect tax regime that will subsume various levies such as excise and ..

Posted in Taxation |   1706 Views


No routine tax scrutiny for senior citizens, small taxpayers

   15 March 2011 at 15:29

No routine tax scrutiny for senior citizens, small taxpayers The Income Tax Department has said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs 10 lakh will not scrutinised in ..

Posted in Taxation  1 comments |   1518 Views


Pranab hints at review of proposal to tax healthcare services

   15 March 2011 at 15:29

Pranab hints at review of proposal to tax healthcare services Finance Minister Pranab Mukherjee has hinted at review of his proposal to impose 5 percent service tax on high-end health care services which was described as "misery tax" b ..

Posted in Taxation |   1046 Views


DTC to be implemented from 1st April, 2012: Pranab

   01 March 2011 at 10:06

DTC to be implemented from 1st April, 2012: Pranab Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from 1st April, 2012. "... The code is ..

Posted in Taxation  1 comments |   1821 Views


GST Constitution Amendment Bill in this session: FM

   01 March 2011 at 10:05

GST Constitution Amendment Bill in this session: FM Finance Minister Pranab Mukherjee said the Government proposes to introduce the Constitution Amendment Bill in the current session to pave the way for introduction of the long-awaited Goods an ..

Posted in Taxation |   999 Views


Compounded Tax- Metal Crusher Units

   15 December 2010 at 19:18

A division bench of the Kerala High Court held that a metal crusher unit entitled to pay compounded tax, as per sales tax law, can equally claim composition with respect to its incidental products like Msand, along with granite metals. As per Sect ..

Posted in Taxation  1 comments |   4194 Views


CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

   15 December 2010 at 10:17

CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acqui ..

Posted in Taxation |   1321 Views


I-T dept introduces new number for taxpayers for tax filing

   29 November 2010 at 11:37

I-T dept introduces new number for taxpayers for tax filing Taxpayers will now have to procure a 'new number' for filing returns and making any communication with the Income Tax department. The unique Document identification number (D ..

Posted in Taxation  8 comments |   2444 Views



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