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Showing posts with label Income Tax. Show all posts
Showing posts with label Income Tax. Show all posts

FinMin against raising Income Tax exemption limit to Rs 3 lakh

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The Finance Ministry has rejected the recommendation of the Parliamentary Standing Committee headed by former Finance Minister Yashwant Si...

INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2013-14 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.

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CIRCULAR NO : 08 /2013  F.No. 275/192/2013-IT(B)  Government of India  Ministry of Finance  Department of Revenue  Central Board...

EXEMPTION FROM FILING ITR (INCOME TAX RETURN) NOT EXTENDED THIS ASSESSMENT YEAR 2013-14 – CBDT.

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       Income Tax Department issues press release to clarify that unlike previous year Salaried Employees with Total Income up to Rs.5 lakhs...

Special IT Return Receipt Counters for Salaried Tax Payers With Income Upto Rs. 5 Lakh.

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      The CBDT has, vide notification dated 1-05-2013, made E-filing of Return compulsory for Assessment Year 2013-14 for persons having tot...

Additional Manpower for the Income Tax Department.

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F.No.A-11013/1/2013-Ad VII Government of India/Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st May,...

Budget 2013: 7 expectations of the salaried class.

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   According to a survey by Assocham, a majority of salaried people want Finance Minister P. Chidambaram to raise the exemption limit on inc...

Raise I-T exemption limit to Rs 4 lakh: Congress.

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   In a pre-budget meeting with Finance Minister P Chidambaram here on Thursday, Congress leaders have asked the UPA government to increase ...

Govt. urges Tax Payers to disclose true income & pay Tax.

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   Government Once again urges all Tax Payers to Disclose their true income and pay Appropriate Taxes within the Current Financial Year;   ...

Govt. to raise income tax exemption limit to Rs 3 lakh in revised DTC.

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   The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on...

Tips for Salaried Persons to Save Income tax

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   Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not b...

Deduction u/s. 80C for tuition / school / education fees.

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Deduction u/s. 80C for tuition / school fees paid for education of children.    Who is Eligible: Deduction for tuition fees u/s. 80c of th...
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Unions pitch for hiking I-T exemption limit to Rs 5 lakh/annum.

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The I-T exemption limit for individuals stands at Rs 2 lakh per annum at present    Trade unions today demanded 12% interest on PF contribu...

Tax exemption on Leave Travel Allowance(LTA)

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   The Income-Tax Department allows you to claim exemption from tax on leave travel allowance only twice in a block of four calendar years. ...

Web Based Status Tracking Facility Launched to Check Corruption in Income Tax Refunds.

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   Instances of alleged corruption for settlement of refund claims and complaints come to notice from time to time. Whenever any such instan...

'Refund Banker Scheme' - Check your Income Tax Refund status through online.

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   The Income Tax Department has already  introduced the provision to know the status of Income Tax Refund through online. As shown in the o...

Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012.

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   On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact th...

Income Tax Department Starts Two More Taxpayer Friendly Initiatives : ‘Register for Home Visit’ and ‘Online Tax Help’

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   In order to make the Income Tax Return filing experience even more convenient, the Income Tax Department has started two more taxpayer fr...
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Exemption of Salaried Employees from Requirement of Filing of Returns for Assessment Year 2012-13.

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   Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the ...

E-filing of Income Tax Return – Frequently Asked Questions.

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It’s time to file your Income Tax Return for the year 2011-12 (Assessment Year 2012-13). The last date for filing ITR for this year has been...
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Tax Concession on Education Loan.

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   Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to ta...