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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Notifications: NOTIFICATION NO. S.O. 752(E), DATED 28-3-2008
NOTIFICATION NO. S.O. 752(E), DATED 28-3-2008
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely: -
  1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2008. (2) They shall come into force on the 1st day of April, 2008.
  2. In the Income-tax Rules, 1962,
  • in rule 12, -
    • in sub-rule (1), for the words, figures and letters on the 1st day of April, 2007 or any subsequent assessment year, the words, figures and letters on the 1st day of April, 2008 shall be substituted;
    • in sub-rule (5), for the words, figures and letters on the 1st day of April, 2006, the words, figures and letters on the 1st day of April, 2007 shall be substituted;
  • in Appendix-II, for Form ITR-1, Form ITR-2, Form ITR-3, Form ITR-4, Form ITR-5,Form ITR-6, Form ITR-7, and Form ITR-8, the following forms shall be substituted, namely:-
 
S.No.
Form No.
Instructions
Description
1
ITR-1
ITR-1 - Instructions
For Individuals having Income from Salary & Interest
2
ITR-2
ITR-2 - Instructions
For Individuals & HUFs not having Income from Business or Profession
3
ITR-3
ITR-3 - Instructions
For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship
4
ITR-4
ITR-4 - Instructions
For Individuals & HUFs having income from a proprietory business or profession
5
ITR-5
ITR-5 - Instructions
For firms, AOPs and BOIs
6
ITR-6
ITR-6 - Instructions
For Companies other than companies claiming exemption under section 11
7
ITR-7
ITR-7 - Instructions
For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 13(4C)  or section 139(4D). (Not available for e-Filing)
8
ITR-8
ITR-8 - Instructions
Return for Fringe Benefits
9
ITR-V
ITR-V - Instructions
Acknowledgment