Government employees should know these rules before provident fund withdrawal Government employees should know these rules before provident fund withdrawal, Please read this news paper report:- AvoAny sum withdrawn by a subscriber at any one time for one or more of the purposes specified in Rule 15 from the amount standing to his credit in … Read more
Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs According to information from the Finance Ministry, the Government is giving serious thoughts about raising the income tax exemption slab from the current Rs. 2 lakhs to Rs. 5 lakhs. The information adds that Modi is planning to make the … Read more
General Budget 2014-15: NFIR Presents list of proposals to be considered NFIR has made a list of all the proposals that Central Government employees expect in the 2014-15 General Budget. On the 11th of this month, Mr. Raghavaiah, the General Secretary of NFIR, sent a letter to the Finance Ministry, containing certain proposals that are … Read more
Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley Arun Jaitley, one of BJP’s prominent leaders says that raising income tax slab to Rs 5 lakh will benefit more than thirty million people in the country. He also added that direct tax should be reduced, If the Income Tax limit is … Read more
Government deductors get relief from fee u/s 234E for late submission of TDS statement Due-Date of Filing of TDS/TCS Statements for FY 2012-13 (2nd to 4th Quarter) and FY 2013-14 (1st to 3rd Quarter) Extended upto 31.03.2014 in the Case of Government Deductors The Central Board of Direct Taxes (CBDT) had received several petitions from … Read more
Clarification regarding scope of additional income-tax on distributed Income under section 115R of the Income-tax Act -regarding. Circular No. 6 /2014 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 11th of February, 2014. Subject: – Clarification regarding scope of additional income-tax on distributed … Read more
Circular No. 04/2014 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 10th of February, 2014 Subject: – Non-Filing of ITR-V in returns with refund claims-relaxation of time-limit for filing ITR-V and processing of such returns -regarding. Several instances of grievances have come to … Read more
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
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