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Tag Archives: Income Tax
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
Posted in Income Tax
Tagged 2010-11, Assessment Year, CBDT, Income Tax, ITR-1, ITR-V, Notification, notification No.29 dated 23/04/2010, rule 12, S.O. 943 (E), salary, Saral 2, Saral-II
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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
Posted in Income Tax
Tagged Budget, Deduction, Direct Tax, Income Tax, India Budget, MAT, New Tax Rate, Saral 2
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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
Posted in Income Tax
Tagged Form 16, Form 16a, Income Tax, notification 9/2010, Tax Deduction at source, TDS, TDS Rules
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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
Posted in Income Tax
Tagged 2010, C, circluar, circular dated 11th January, CIRCULAR NO.1/2010, Income Tax, TDS, TDS from Salaries
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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
Posted in Income Tax
Tagged Budget 2009, Income Tax, India Budget, New Changes in Income Tax, Tax benefits
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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
Posted in Income Tax
Tagged Home Laon, Income Tax, Interest on Housing Loan, residential property, Tax Benefit on Home Loan
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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
Is it necessary to register the Sole Proprietorship firm in India?
No. No registration is required for a sole proprietorship. You simply have to open a bank account with the name & style you want to work. But if you are liable for state VAT or service tax registration, then you … Continue reading
Posted in Uncategorized
Tagged Company Law, Income Tax, PAN, proprietorship, registration
588 Comments
I have forgot to deposit the form ITR-V
As per circular of the CBDT you can file verification form ITR-V (pdf) within 30 days of uploading the electronic data then date of uploading the data will be treated as date of filing of income tax return. But if you … Continue reading
What is Sole proprietorship in India?
The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same. The … Continue reading
