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
No income Tax on Salaried Class – BJP ‘BJP vision panel may propose no income tax on salaried class’ Senior BJP leader Subramanian Swamy today said his party’s vision committee might propose either “no income tax” on the service class or give full tax exemption on their net savings. “The party’s vision committee headed by … 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
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