Relief for Salaried assessees having income less than 5 Lakhs !!!

Income-tax /

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/- . […]

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Is the IT Department really watching you ???

28 Comments / General, Income-tax /

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

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CIBIL Reports now available for Companies also

1 Comment / General /

CIBIL (Credit Information Bureau India Ltd) Report is a very important report used by almost all the Financial Institutions who intend to know about the Credit worthiness of their prospective Borrowers. This CIBIL report is now available for Companies also. This is available for Proprietorship,Partnership,Private Limited Company & Public Limited Company. You can use this

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Income-tax Department’s Drive Against Tax evasion from 20.01.2012

Income-tax /

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

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Tax Savings Bond u/s. 80CCF from IDFC issue is open now

General, Income-tax /

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”]

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Tax Savings Bond u/s. 80CCF from L & T Infra issue is open now

General, Income-tax /

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”]

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Service Tax Half yearly return filing – Last Date extended again

1 Comment / Service Tax /

The Last date for filing the Half Yearly Service Tax returns in respect of Half year ended 30th September 2011 has been extended again from 06.01.2012 to 20.01.2012. The relevant Circular is reproduced below. Those assessees who have not filed their returns can make use of this opportunity. Cick here to send your enquiry for

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Last Date for Company Law Settlement Scheme 2011 (CLSS 2011) extended again.

Company Law /

The Ministry of Corporate affairs vide its General Circular No. 71/2011 dtd 15.12.2011 has extended the last date for filing the documents under Company Law settlement Scheme 2011 to 15th January 2012. In the above circular it has been clearly specified that this will be the final opportunity for the Inactive companies to file their Annual

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