Online eFiling Software
The requirement of filing the annual VAT statements by traders in addition to monthly returns will be dispensed with. | The penalty levied on late filing of monthly returns will be reduced from 10% to 5% if the delay does not exceed 10 days. | The system of e-filing of tax returns will be introduced selectively during the current year. | CBDT has notified Industrial Park Scheme 2008 expanding the ambit of “industrial activity” to include research and experimental development on natural sciences and engineering, development of computer software, and information technology enabled services. | Net direct tax collections in the first quarter of the present fiscal stood at Rs.57,373 crore, up from Rs.41,391 crore, registering a growth of 38.61 percent. | Shri Narendra Bahadur Singh has taken over as Chairman of the Central Board of Direct Taxes with effect from the afternoon of 30 June 2008. | As a part of the modernization of computer infrastructure in the Income Tax Department, the Computer Centers at Amritsar, Baroda and Rohtak will be shutdown for a period from 27.06.2008 to 09.08.2008. During this period the work of issue of PAN card would be stopped completely in these centers.
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TDS to be charged at 30% if No PAN from Party:Now department is planning to bring in strict policy on the same. It is about to come with an amendment in the Act, where TDS will be deducted at a flat rate of 30%, if party is not providing PAN....
ePayment of Taxes - A live preview: All are aware that ePayment of Taxes is mandatory for several tax payers from 2008-09. Many of them were not able to visualize the process and get the guidance about the same. So herewith Relyon has made....
Clarification from CBDT on annexureless Tax returns: On the matter of Income tax returns, several Offices of Income Tax was asking for annexure and receiving the same from tax payers. CBDT has come with a clear clarification and instruction to all collection counters stating....
Clarification from CBDT on Online Direct-Tax payment: Regarding e-Payment of taxes, there were several confusions in the tax payers and there were no major responses from CDBT. Now department has .....
eFiling of Karnataka VAT Amended [Included Exporters]: The Government of Karnataka has made it mandatory for every registered dealers having a export turnover to outside the Indian territory for the year ending 31st March 2008 or any subsequent years is 10 lac or more and claiming the refund or input ...