Government’s Clarification on the Reports that Finance Ministry Pays intterest on Excess Tax Refund This is with reference to the news report appearing in certain section of media that the Finance Ministry pays Rs.37, 365 cr. in interest on excess tax refund and similar reports. The emphasis of these reports is that huge interest was … Read more
CBDT Press Release dated 30.01.2014 on procedure for PAN allotment. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated 30th January, 2013 Press Release The CBDT has decided to keep in abeyance the decision to change the procedure for PAN allotment till further orders. Accordingly the operation of circular … Read more
Change in procedure for PAN allotment. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated 24th January, 2013 Press Release The procedure for PAN allotment process will undergo a change w.e.f.03.02.2014. From this date onwards, every PAN applicant has to submit sefl-attested copies of Proof of Identiy (POI), Proof … Read more
CBDT Press Release on change in procedure for PAN allotment DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhl-110055 F.No: oPAN/l/3/2003/Part Dated: 24.1.2014 Sub: Change in procedure for PAN allotment. 1. The fee for processing a PAN application shall be Rs 105/- (inclusive of all taxes). 2. Subsequent to notification … Read more
Save Income Tax on the Contribution made by Government in pension fund of NPS Subscribers… Save Income Tax on the Contribution made by Government in pension fund of NPS Subscriber, Refer 5.5.3 Deduction in respect of contribution to pension scheme of Central Government (Section 80CCD). 5.5.3 Deduction in respect of contribution to pension scheme of … Read more
RATES OF INCOME-TAX AS PER FINANCE ACT, 2013 As per the Finance Act, 2013, income-tax is required to be deducted under Section 192 of the Act from income chargeable under the head “Salaries” for the financial year 2013-14 (i.e. Assessment Year 2014-15) at the following rates: 2.1 Rates of tax A. Normal Rates of tax: … Read more