Feb 25, 2010

TDS @ 20% will be charged if PAN not available from 01-04-2010

As per new provision of tax deduction at source (TDS) under the Income Tax Act 1961 effective from April 1, 2010, TDS at higher of the presc...

E-PAYMENT for Service Tax Mandatory from 1-04-2010

E- payment for service tax mandatory as e-payment with effect from 01-04-2010 on or above the payments of 10 lakhs. Full notification is as ...

All the Truth behind Insurance Plans

Generally people were either bulldozed into buying an insurance policy by persistent agents or were statutorily required to buy one. As a ...

Feb 24, 2010

TDS/TCS RULES 2010

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE ...

Feb 21, 2010

Types of Taxes which American Pays

Taxation History: - Taxes was firstly introduced in Ancient Egypt as the records we have showed that the pharaoh would collect taxes fro...

Feb 20, 2010

Notification dated 19 febuary regarding section 80-IA(4)(iii) of Income Tax

Section 80-IA(4)(iii) of the Income-tax Act, 1961 – Deductions – In respect of profits and gains from industrial undertakings, etc., in cert...

Feb 18, 2010

How to Apply for Import Export Code Number (IEC)

If someone starts the business of import and export one need to apply and get IMPORT EXPORT CODE number which is also called (IEC NUMBER)...

Feb 15, 2010

Last date of filling ITR-5 of income tax extended

Central Board of Direct Taxes has decided to extend the time limit for filing ITR-V form relating to income-tax returns filed electronical...

Feb 13, 2010

INCOME TAX RETURN PREPRATION SOFTWARE FOR 2009-10

INCOME TAX RETURN PREPRATION SOFTWARE FOR 2009-10 : "INCOME TAX RETURN PREPARATION SOFTWARE FOR THE ASSESSMENT YEAR 2009-10 It's...

Feb 12, 2010

All About Capital Gain Tax

Capital Gain:- As per Indian Income Tax laws, a capital gain tax is a voluntary tax payable on the sale of assets, investments, capita...

Feb 9, 2010

Clarification for deduction in respect of contribution to pension scheme under Section 80 CCD

  A new clarification is made by income tax department about section 80 CCD of income tax act Clarification regarding deduction under Sec...

Income Tax Notification about M/s School of Human Genetics and Population Health Kolkata

The Organization M/s School of Human Genetics and Population Health, Kolkata, has been approved by the Central Government for the purpose of...

Income tax Notification about M/s Sundar Lal Jain Charitable Eye Hospital New Delhi

The Organization M/s Sundar Lal Jain Charitable Eye Hospital, New Delhi, has been approved by the Central Government for the purpose of clau...

INDIAN LAW INSTITUTE NEW DELHI HAS APPROVED IN RESEARCH ACTIVITIES FOR INCOME TAX

The Organization "The Indian Law Institute, New Delhi", has been approved by the Central Government for the purpose of clause (iii...

WILL MOBILE TAKE THE PLACE OF ATM IN INDIA

Brick and mortar banks had better be prepared to face a potential threat of mobile service providers breaking into their bastion. If Mr Suni...

Feb 8, 2010

WHAT IS SENIOR CITIZEN SCHEME,HOW THE RETURN TREATED

I have deposited Rs. 15 lakh in a post office under the Senior Citizens’ Deposit Scheme and I have nominated three of my children to receive...

Feb 6, 2010

EDUCATIONAL AND MEDICAL institutions under the tax lense

The Associated Chambers of Commerce and Industry of India (Assocham) has made a strong case for bringing in all educational and medical inst...