Tag Archives: Income Tax

How to Check Income Tax Refund Status

Step 1: Login to E-filing website to check if your return for AY 2009-10 has been processed https://incometaxindiaefiling.gov.in/portal/login.do Step 2: Go to “My Account” -> select “E-Filing Processing Status” Step 3: Enter Assessment Year -> 2009-10 and click on ‘Submit’ … Continue reading

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GUIDELINES FOR SELECTION OF CASES FOR SCRUTINY DURING 2010-11

GUIDELINES FOR SELECTION OF CASES FOR SCRUTINY DURING 2010-11 Selection of cases for scrutiny during the financial year 2010-11 will be done primarily through CASS this year. Manual Selection for scrutiny this year will be limited only to a few … Continue reading

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Income Tax refund without matching TDS upto 3 lakh -Fy 2009-10

As per new rule of Income tax ,Tds claimed in the income tax return must be matched with data uploaded by the Deductor and data posted in form 26AS(Pan ledger) .Due to these instruction ,many refund orders are pending without … Continue reading

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New Income Tax Return Form SARAL II for Assessment Year 2010-11

CBDT notifies New Income Tax Return Form SARAL II (ITR 1) for Assessment Year 2010-11 for Individuals having income from Salary/Pension/Income from One House Property (Excluding loss brought forward from previous years) / Income from Other Sources (Excluding winning from … Continue reading

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Budget-2010- Direct Tax Proposals

TAX PROPOSALS: The Centralized Processing Centre at Bengaluru is now fully functional and is processing around 20,000 returns daily. Two more Centres will also be established during the year. The Income Tax department has introduced “Sevottam”, a pilot project at … Continue reading

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New TDS Rules

NEW TDS RULES NOTIFIED Income-tax (First Amendment) Rules, 2010 Notification No. 9/2010/F.No. 142/27/2009-SO(TPL), dated 17-2-2010 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961     (43 of 1961), the Central Board of Direct Taxes hereby makes the … Continue reading

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TDS on Salary during the year 2009-2010 circular

DEDUCTION OF TAX AT SOURCE —INCOME–TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME–TAX ACT, 1961 DURING THE FINANCIAL YEAR 2009-2010 CIRCULAR NO.1/2010 F.No.275/192/2009IT(B)] NEW DELHI, dated the 11th January,2010 GOVERNMENT OF INDIA  MINISTRY OF FINANCE  DEPARTMENT OF REVENUE  CENTRAL BOARD OF … Continue reading

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Budget update 2009- Direct Tax

Budget Update by CA. Sudha Gupta and CA. Vinay Bhushan Here are the salient features of the Budget 2009 DIRECT TAX Exemption of threshold limit for personal income tax raised by For senior Citizens Rs.15,000 from Rs.2.25 lakh to Rs.2.40 … Continue reading

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FAQ On Housing Loan

Q-1 What are Income tax benefits of taking a housing loan under EMI Plan?   First Equated monthly instalment (EMI) amount is to be divided into the principal and interest components.   The repayment of principal amount of the loan … Continue reading

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Scrutiny of FBT returns

GOVERNMENT OF INDIA Ministry of Finance DEPARTMENT OF REVENUE (Central Board of Direct Taxes) Subject: Scrutiny of FBT returns – regarding Instruction No.11 /2008 File No.225/44/2008-ITA-II Date.05 Sep 2008 Instruction To, All Chief Commissioners of Income tax/ All Directors General … Continue reading

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