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

  On 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 ...

1  comments |   1819 hits


GST Constitution Amendment Bill in this session: FM

  On 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 ...

  0 comments |   998 hits


Compounded Tax- Metal Crusher Units

  On 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 ...

1  comments |   4188 hits


CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

  On 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 ...

  0 comments |   1320 hits


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

  On 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 ...

8  comments |   2440 hits


IT raids on biz premises of seven Karnataka MLAs

  On 25 October 2010 at 16:39

IT raids on biz premises of seven Karnataka MLAs Income Tax officials on Monday conducted raids at around 60 places in Karnataka, targeting seven ruling BJP MLAs, including ministers G Janardhana Reddy and G Karunakara Reddy. IT raids were ...

3  comments |   1332 hits


Income Tax Demand of Rs.11,218 Crore Raised on Vodafone

  On 22 October 2010 at 17:18

Income Tax Demand of Rs.11,218 Crore Raised on Vodafone The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) ...

1  comments |   1538 hits


Exemption from taxable service of marketing of lottery u/s 94 of FA, 1994

  On 08 October 2010 at 23:00

Exemption from taxable service of marketing of lottery u/s 94 of FA, 1994 NOTIFICATION NO 49/2010-Service Tax Dated : October 8, 2010 In exercise of the powers conferred by sub-sections (1) and (2) of section 94 of the Finance Act, 1994 (32 of 19 ...

  0 comments |   1191 hits


Extends last date for return-filing by corporate to October 15

  On 27 September 2010 at 16:56

CBDT u/s 119 of IT, Act 1961, extends the due date of filing of returns of income for the AY10-11 from 30.09.2010 to 15th October 2010 F.No. 225/72/2010-ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Dire ...

2  comments |   1310 hits


I-T Returns Filing Date Extended to 30th November in J and K

  On 24 September 2010 at 10:22

I-T Returns Filing Date Extended to 30th November in J & K The Central Board of Direct Taxes (CBDT) has extended the due date of filing of returns of income for the Assessment Year 2010-11 for all categories of cases in the State of Jammu &a ...










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