DIRECT TAX PROPOSALS v Changes in Tax Slabs : The existing differentiation of Male and Female assessees has been removed. The tax rates for all Individual assessees below 60 years of age for the year 2012-13 is as follows :- Income Level Rate of Tax Upto Rs. Rs. 2,00,000/- Nil Rs. 2,00,001 to Rs. 5,00,000/- […]
BUDGET 2012 – IMPORTANT TAX PROPOSALS Read More »
Income-tax is a very famous and well known direct tax inIndia. But many Income-tax assessees are unaware of the fact that they are also liable to pay wealth-tax and file Wealth-tax returns every year along with their Income-tax returns. In this article , let us try to analyse the various provisions with regard to Wealth-tax
Wealth-tax – Are you Complying with the Provisions ? Read More »
Every person holding Deposits with Banks/Financial Institutions/Companies must have heard about these forms 15G & 15H. As a depositor, you will be required by the bankers/financial institutions/Companies to submit Form 15G/15H for non deduction of tax at source (TDS). But, how many of us really know, what this Form 15G/15H is and what are the
All about Form 15G & Form 15H Read More »
How to make Income-tax payments online ? Tax payments offline (through challan) involves filling up of respective tax challan, visit to the bank and some times require another visit on subsequent day for collection of tax challans. This involves lot of time and effort and also involves the risk
How to make Income-tax payments online ? Read More »
The following are the various statutory compliances for the month of March 2012 Payment of Service Tax (Feb 2012 Due) The last date for Payment of Service tax pertaining to the month of Febraury 2012 is 5th of March 2012. In case of e-payment, the due date is 6th of March 2012. In case of
Statutory Compliances for the month of March 2012 Read More »
The Income-tax department, vide its NOTIFICATION NO. 9/2012 [F. NO.225/283/2011-ITA(II)], DATED 17-2-2012 has exempted the persons (salaried assessees) with income less than 5 lakhs from furnishing their return of Income. For whom this benefit is available ? 1) The assessee should be an Individual; and 2) The Total Income does not exceed Rs. 500000/- .
Relief for Salaried assessees having income less than 5 Lakhs !!! Read More »
Is the IT Department really watching you? In recent times, lot of news coverage is being given to the proceedings by the Income-tax department in respect of their action against tax evaders. Very often we see Newspaper advertisements and TV commercials warning the tax evaders to comply with Income-tax filing and payment requirements. These advertisements/commercials
Is the IT Department really watching you ??? Read More »
The due date for submission of ITR-V for A.Y. 2011-12 has been extended upto 31.03.2012 or 120 days from the date of upload whichever is later. If you have e filed your Income-tax return and have failed to send the signed ITR-V to CPC-Bangalore, here is an opportunity for you to submit the ITR-V now.
Due date for Submission of ITR-V for A.Y.2011-12 extended till 31.03.2012 Read More »
In view of the Shortfall in the Revenue, and increase in fiscal deficit, the Central Government has directed the Income-tax Department to launch two month Special Initiative to trail and verify high value transactions by persons not assessed to tax or those who have not furnished their PAN during such deals. This special Drive will
Income-tax Department’s Drive Against Tax evasion from 20.01.2012 Read More »
Infrastructure Development Finance Company Limited (IDFC) has come out with issue of Tax Savings Bonds, the Investment in which will qualify for additional deduction of Rs. 20000/- u/s. 80 CCF of the Income-tax Act,1961. The salient features of this issue are reproduced below :- Click here to send your enquiry [gview file=”http://bssridhar.com/blog/wp-content/uploads/2012/01/IDFC2012.pdf”]
Tax Savings Bond u/s. 80CCF from IDFC issue is open now Read More »
L & T Infrastructure Finance Company Limited has come out with issue of Tax Savings Bonds, the Investment in which will qualify for additional deduction of Rs. 20000/- u/s. 80 CCF of the Income-tax Act,1961. The salient features of this issue are reproduced below :- Click here to send your enquiries [gview file=”http://bssridhar.com/blog/wp-content/uploads/2012/01/LANDT2012.pdf”]
Tax Savings Bond u/s. 80CCF from L & T Infra issue is open now Read More »
Link for E payment of Income-tax/TDS/Dividend Tax Click Here Link for E Payment of Service Tax Click Here
The following are the Various Statutory Obligations for the month of January 2012. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of December 2011 & for Quarter ended 31st December 2011 , is 5th of January 2012. In case of e-payment, the due date is 6th of
Statutory Obligations for the month of January 2012 Read More »
The following are the Various Statutory Obligations for the month of December 2011. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2012-13 is 15th December 2011. Click here to make Advance Tax Payment online. Click
Statutory Obligations for the month of December 2011 Read More »
The Income-tax Department vide its Notification No 58/2011 [F.NO 133/48/2011-SO(TPL)]/S.O.2468(E) DTD 29-10-2011, has notified New PAN Card Applications Form 49A & 49AA. Form 49A is applicable for Indian Citizens/Indian Companies/Entities Incorporated in India/Unincorporated Entities formed in India. Click here to download new Form 49A Form 49AA is applicable for Indian Citizens not being a Citizen
New PAN Application notified Read More »
