The Ministry of Finance, Department of Revenue has announced the Selection for the post of Members of the Central Board of Direct Taxes.

Taxpayer's Lounge set up by Income Tax Department at India International Trade Fair 2011 from 14-27 November, 2011 has been adjudged First for Excellence in Display in the category Government Departments by India Trade promotion Organization (ITPO). The Taxpayers’ Lounge, inaugurated by Chairman, CBDT, on 15th November 2011, was conceptualized by the Directorate of Income Tax (PR, PP&OL). The Directorate also supervised its actual implementation as well as functioning throughout the duration of the Trade Fair.

The CBDT has released message from the Chairman desk regarding preparation of Results Framework Document for Income Tax Department for F.Y.2012-13.

The Office of Commissioner of Income Tax(Judicial) chennai requires advocates for empanelment as Junior and senior Standing Counsels to represent the Department.

The Income Tax Department, Sealed Technical and Financial bids are invited from eligible bidders for implementation of Establishment and Operating Regional Processing Centres including a Complete IT System for Income Tax Department Project. Further updates has been given in the revised bid schedule.

CBDT Press Release regarding Gross direct tax collection during April-October of the current fiscal.

CBDT Press Release regarding investigations relating to banking information.

The Income Tax Department has released a Notification for PAN application.

Income-tax Rules, 1962 were amended, vide notification No. S.O. 2429(E) dated 24th of October, 2011, for (i) extending the time limit of submission of TDS statements by the Government deductors in view of filing of Form No.24G by them; (ii) compulsory uploading of particulars of amount paid without deduction of tax in view of furnishing of declaration under section 197A; and (iii) enlarging the scope for grant of TDS credit to person other than the deductee.

DGIT Vigilance would be celebrating Vigilance Awareness Week from 31st October to 5th November, 2011 this year on theme of “Participative Vigilance”.

The Central Board of Direct Taxes (CBDT) has made public the discussion paper on accounting standards, to be known as Tax Accounting Standards (TAS), for feedback from all concerned.

CBDT has released a discussion paper on Tax Accounting Standards for inviting comments/suggestions from all the stake holders.

CBDT has released Circular on Tax deduction at source on the deposits in banks in the name of the Registrar/ Prothonotary and Senior Master attached to the Supreme Court/ High Court etc during the pendency of litigation of claim/compensation-reg.

The Central Board of Direct Taxes, Department of Revenue, it has been decided with the approval of competent authority that the Committee to examine ways to strengthen laws to curb generation of black-money in India, its illegal transfer and abroad and its recovery shall be co-chaired by Member 9investigation), CBDT.

The Income Tax Department, on consideration of the reports of disturbance of general life caused due to earthquake in the State of Sikkim, the central Board of Direct Taxes, in exercise of powers conferred under section 119 of the income Tax Act. 1961, hereby extends the ‘due date’ of filing of returns for the Assessment Year 2011-12, from 30th September 2011 to 31st October 2011.

Candidates are requested to visit the link given below to print the Admit Cards.

The Central Board of Direct Taxes, Department Revenue, has issued instructions regarding handling over of charges at the time of transfer of an officer / official.

The Income Tax Department, New Delhi invites sealed quotations for supply of data entry operators for digitization of income tax returns.

Shri Pranab Mukherjee, Hon’ble Finance Minister, Govt. of India inaugurated the Residential Quarters-cum-Guest House ‘Aayakar Abasan’ at Siliguri, West Bengal.

The last date of submission of response to RFP for Selection of MSP for CPC(TDS) project stands extended from 12/08/2011 to 23/08/2011. Please Click Here to view the revised schedule of events for CPC(TDS) project.

Manual of Dos & Don'ts covering various aspects of General Conduct, Financial administration, Tax administration and Vigilance Administration etc prepared by the Vigilance Directorate , was released by Shri Prakash Chandra, Chairman CBDT during the Video Conference on 29.07.2011.

Shri M. C. Joshi has taken over as Chairman, Central Board of Direct Taxes with effect from 1st August 2011. Shri Joshi belongs to the 1974 batch of the Indian Revenue Service.

the Income Tax Department, New Delhi has organized a special camp to facilitate filing of returns of salaried and pensioner assessees at Hall no. 12 & 12A, Pragati Maidan from 28th to 31st July. The camp was inaugurated by Shri Prakash Chandra, Chairman, Central Board of Direct Taxes.

The Concluding Ceremony for 150 years of Income Tax in India was celebrated on 15-07-2011 at a solemn function graced by H.E. Smt. Pratibha Devi Singh Patil, President of India at Vigyan Bhawan, New Delhi. The first copy of a book titled 'A Celebration through Art: 150 Years of Income Tax in India' comprising of artworks on the theme of 'Income Tax in Nation Building', executed by some of India's top artists and the artistically gifted personnel of the Income Tax Department in the course of celebration of 150 years, was presented to Mahamahim Pratibha Devisingh Patilji, President of India by Shri Pranab Mukherjee, Union Finance Minister after it was released in the presence of Honourable Shri S.S. Palanimanickam, Minister of State for Finance (Revenue), Honourable Shri Namo Narain Meena, Minister of State for Finance (Expenditure), Shri R.S. Gujral, Revenue Secretary, Shri Prakash Chandra, Chairman, CBDT, other Members of the CBDT and a distinguished audience. The preview of the film titled '150 years of Income Tax- A Journey Across Three Centuries' was screened and an informative brochure, 'A Journey across Three Centuries', depicting the evolving role of Income Tax since 1860, was also released.

The Income Tax Department, New Delhi invites tenders from interested parties for Providing Furniture for Return Receipt Special Counters.

Gross direct tax collections during the first quarter of the current fiscal (April - June 2011) were up by 23.91 percent at Rs.104,136 crore as against Rs.84,041 crore.

Income Tax Department invites response to the RFP floated for selection of MSP for setting up, operating and maintenance of CPC (TDS) for processing of TDS statements.

CBDT has issued a Circular No. 03/2011 dated May 13, 2011as per which TDS Certificates in Form No. 16A will be generated from Tax Information Network (TIN). It is mandatory for Companies and Banks to issue Form 16A from TIN to their deductees for deductions made from April 1, 2011 (F.Y. 2011-12 onwards). Taxpayers are advised to insist on Form 16A (quarterly TDS certificate) that has been downloaded by the Deductors from TIN Central System only.

The Government of India signed a Protocol, amending Double Taxation Avoidance Agreement (DTAA) with Government of Singapore for effective exchange of information in the tax matters on 24th June, 2011.

The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011.

A Committee has been constituted to examine ways to strengthen laws to curb generation of black-money in India, its illegal transfer abroad and its recovery. The Committee is calling for feedback from all the stakeholders on this issue through an e-mail ID bm-feedback@nic.in.

Net direct tax collections during the first two months of the current fiscal (April & May 2011) stood at Rs.12,954 crore, down from Rs.24,878 crore in the same period last fiscal, a decline of 47.93 percent. Gross direct tax collections were, however, up by 37.34 percent at Rs.50,405 crore as against Rs.36,702 crore.

The Government of India notified the Double Taxation Avoidance Agreement (DTAA) with the Government of Mozambique for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 31st May 2011.

Shri Prakash Chandra, an IRS (IT) officer of the 1973 batch, took over as Chairman of the Central Board of Direct Taxes.

The Income Tax Department invites sealed Technical and Financial bids from eligible bidders for implementation of Operating Regional Processing Centers at Pune and Manesar.

The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the United Republic of Tanzania for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 27th May 2011 at Dar es Salaam.

The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Federal Democratic Republic of Ethiopia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 25th May 2011 at Addis Ababa.

The Directorate of Income Tax (IT) has issued the result of Departmental Examination 2010 for ITOs.The certified copy shall be made available by the concerned CCIT/CIT(Exams i/c) only. Before declaring the result, the concerned CCIT/CIT (EXAM i/c) are requested to verify the eligibility of Partially Qualified (PQ) candidates with respect to the no. of attempts and earlier subject exemptions. Similarly only those SC/ST candidates, who have earlier qualified the Departmental Examinations, either under the old pattern or the new pattern with relaxed standards, are eligible for availing "Betterment Chance.

The Directorate of Income Tax(IT) has declared the result of Departmental Examination 2010.The certified copy shall be made available by the concerned CCIT/CIT(Exam i/c)only. As per the present grace mark policy, maximum 5 grace marks in aggregate are allowed in one or more subjects to fully pass the Examination. However, for availing exemption only in an individual subject, a candidate is given maximum 2% grace marks i.e. maximum 2 marks if the paper is of 100 marks. This gracing policy has been applied while processing the result.

The Central board of Direct Taxes has issued the list of specifications for printing of the SAHAJ and SUGAM forms.

The Government of India has created 12 posts of Income Tax ombudsman at 12 stations namely New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Lucknow, Chandigarh, Bhopal and Kochi under the Income Tax ombudsman Guidelines 2010.

CBDT notifies New Income Tax Return Forms for the Assessment Year 2011-12.

The Aayakar Seva Kendra (ASK) at the Income-tax Office at Cochin has obtained quality certification under IS : 15700 : 2005 for sustained quality of work and procedure in the area of tax payer services. The certification for quality was the culmination of efforts spread over a year and a half. The Income-tax Office thus becomes one of the few departments of the Govt. of India, and the second office in the Income-tax Department to acquire quality certification for top-notch quality performances. Congratulations Income-tax fraternity at Cochin!

In lieu of a holiday on April 14, 2011, the last date and time for submission of bids has been revised to April 15, 2011.

The Central Board of Direct Taxes has issued Circular 01/2011 regarding Explanatory notes to the provisions of the Finance Act, 2010.

Directorate of Income Tax (Systems) invites sealed tenders from eligible bidders for the establishment and running of AAYAKAR SAMPARK KENDRA, A National and four Regional Call Centers providing tax related services.

H E Lt Gen (Retd) Bhopinder Singh, PVSM, AVSM, Lt Governor of Andaman & Nicobar Islands laid the foundation stone of 'Aayakar Bhawan', Port Blair on 15.03.2011 in the august presence of Shri B.S. Sondhi, Chief Commissioner of Income Tax (CCA), Kolkata.

Reply letter of Shri S.S.Palanimanickam, Minister of State for Finance to Shri Subramanian Swamy, President, Janata Party regarding disclosure of names of Indians having bank accounts in Liechtenstein.

Sealed Technical and Financial bids are invited from eligible bidders for implementation of E-Filing of Returns and Other Forms and Web-Enabled Services for Income-Tax Department.

Central Board of Direct Taxes has reviewed its scrutiny selection procedure. In order to redress the grievance of the taxpayers, it has been decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information.

Net direct tax collections during the period April-February 2011 stood at Rs.3,36,177 crore, up from Rs.2,78,411 crore in the same period last fiscal, registering a growth of 20.75 percent.

The Sevottam Centre, Kochi which had become operational from August 2009 has come of age and has attained critical mass now. Out of the total Dak of 13692 received, 11742 nos have been resolved till date - 86%. The centre has become fully functional in all respects and has been able to attain all the objects for which it has been set up.

Income-tax department has extended the last date for submission of bids for Tender No : eGov/4/Call Center/2011 dated 28/01/2011.

The Commissioner of Income Tax (Judicial), New Delhi invites applications for empanelment as Sr. Standing Counsel and Jr. Standing counsel of Income Tax Department in the High Court of Delhi.

Engineers India Limited on behalf of Directorate of Income Tax (Systems) invites item rate tender under single stage two bid system from eligible bidders.

The Centralized Processing Center of the Income Tax Department at Bangalore, which was established to mass-process Income Tax Returns has bagged the Gold Award in the category "Excellence in Government Process Re-engineering" at the 14th National e-Governance Conference held at Aurangabad, Maharashtra on 10th February, 2011.

Sealed Tenders in prescribed forms are invited only from ASP (Authorized Service Providers) of HP / Lenovo by the Income Tax Department, Kolkata, West Bengal for comprehensive Annual Maintenance Contract of Hardware (like PCs, Printers, UPS etc).

The Income Tax Department, New Delhi invites all interested parties to carry out the OMR and Answer sheet processing of the Departmental Examination.

Corrigendum to tender notice advertisement dated 28/01/2011 regarding proposal to set up "Aayakar Sampark Kendra (ASK)"

India has entered into a Tax Information Exchange Agreement (TIEA) with the Bahamas. The Agreement was signed on 11th February 2011 by the High Commissioner of India to Jamaica (concurrently accredited to the Commonwealth of The Bahamas) on behalf of India and the Minister of State for Finance on behalf of the Government of the Commonwealth of The Bahamas.

The Central Board of Direct Taxes has decided to extend the time limit for filing ITR-V forms relating to income tax returns for A.Y 2010 - 2011 filed electronically on or after 1st April 2010.

In order to speed up refunds, TDS claims in all tax returns (ITR-1 to ITR-6) will be accepted without verification if the difference between the amount claimed in the return and the amount reflected in the TDS return (AS-26 statement) does not exceed one lakh rupees.

Net direct tax collections during the period April 2010 to January 2011 stood at Rs.3,17,501 crore, up from Rs.2,63,765 crore in the same period last fiscal, registering a growth of 20.37 percent.

Staff Selection Commission has recommended 846 candidates for appointment to the post of Income Tax Inspector and 483 candidates for the post of Tax Assistant in CBDT.

The CBDT has issued Notification regarding rules regulating the method of recruitment to the post of Multi Tasking Staff in the Income-tax Department.

Appropriate Authority, Kolkata sold an acquired property for Rs. 5.25 Crores in an auction held on 4th Feb 2011. This property had been acquired for Rs. 18 lakhs.

The Governments of SAARC Member states conclude an agreement on avoidance of double taxation and mutual administrative assistance in tax matters with a view to promote economic cooperation among the SAARC Member states.

References have been received by the Board from the large number of taxpayers especially from the mofussil areas, that the existing monetary limits for assigning cases to Deputy Commissioners / Assistant Commissioners and ITOs is causing hardship to the taxpayers.

Directorate of Income Tax (Systems) invites sealed tenders from eligible bidders for the establishment and running of AAYAKAR SAMPARK KENDRA (A National and four Regional Call Centers) providing tax related services.

The DGIT (Systems) has permitted extension of due date for submission of bids for the E-filing tender from 17th January 2011 to 4th February 2011. The deadline for time and the venue shall remain same. No further extension will be granted and no requests for further extension will be entertained.

In view of shifting exercise in the Directorate of Income Tax (Systems) to the computer Center at Aayakar Bhawan, Vaishali, Ghaziabad, the redressal of complaints of the ITD users and other facilities like Helpdesk, Toll Free Numbers, e-filing support etc are likely to remain affected for a few days. However, all efforts are being made to minimize the inconvenience to the ITD users.

The Central Board of Direct Taxes has issued notification regarding the amendments made to Income Tax Rules, 1962.

Directorate of Income Tax (Systems) invites sealed Technical and Financial bids from eligible bidders for implementation of "E-FILING OF RETURNS AND OTHER FORMS AND WEB-ENABLED SERVICES" for Income Tax Department Project.

The Central Board of Direct Taxes has issued notification regarding Tax Return Preparer Scheme, 2006, published wide notification number S.O.2039(E) dated 28th November 2006.

The CBDT, Department of Revenue has listed the Notified Industrial Parks under section 80 IA(4)(iii) of the Income Tax Act, 1961 from 16-9-2010 till date.

Honorable Finance Minister Shri Pranab Mukherjee inaugurated a new office building 'Aayakar Bhawan', with Aayakar Seva Kendra (ASK) at Chinsurah, Hooghly on 4th December 2010. Shri Sunil Mitra, Revenue Secretary, Shri Durgesh Shankar, Member (R), CBDT, Shri M. C. Joshi, Member (A&J), CBDT and Shri R. N. Tripathi, CCIT (CCA), Kolkata also graced the occasion.

During the period April-November 2010, net direct tax collections stood at Rs.2,16,628 crore, up from Rs.1,83,822 crore during the same period last fiscal, registering a growth of 17.85 percent and crossing 50 percent of the BE target of Rs.4,30,000 crore for fiscal 2010-11.

Rule V(A)(c) of Amended Departmental Examination Rules For Income Tax Inspectors 2009 exempts those candidates from appearance in Paper 5 namely Hindi, who have qualified Hindi either at the matriculation/higher level or in the departmental Examination for Ministerial Staff.

The Directorate of Income Tax (IT) has issued admit cards and roll numbers to the candidates for the Departmental Examination for ITOs & ITIs 2010. The candidates can download the admit cards by filling their application number and center choice.

Directorate of Income Tax (Systems) invites bids from reputed, established and reliable Service Provider (SP) for Design, Development, maintenance and content management of Income Tax Department website (www.incometaxindia.gov.in).

In view of severe shortage in the cadre of the Stenographer Grade II in the Income Tax Department, it has been decided with the approval of the competent Authority to allow as a one-time measure for a limited period of one year, transfer on permanent basis.

The Chairman CBDT has approved the removal of age ceiling for partially qualified candidates of Old Pattern for 2010 Examination for Income Tax Officers and Income Tax Inspectors. For details please read the attached Notification-VIII.

Net direct tax collections crossed the mark of rupees two trillion and stood at Rs.2,04,351 crore as on 31st October 2010, up from Rs.1,73,447 crore during the period April-October last fiscal, thereby registering a growth of 17.82 percent.

The Central Board of Direct Taxes (CBDT) has clarified vide Circular No.7/2010 that the approvals under sub-clause (vi) and (via) of section 10(23C) granted on or after 1.12.2006 shall be valid until withdrawn.

Web-pages of the Directorate General of Vigilance inaugurated by Shri P. J.Thomas, CVC, during "Vigilance Awareness Seminar" organised on 28th October, 2010.

Sanjeev is the first Indian, and one of the first people from a non-OECD country, to become a full official of the Organization. Sanjeev was formerly with the Indian Government, at the Ministry of Finance, and, most recently, in the Tax Tribunal representing the Revenue position on Transfer Pricing cases.

Applications are invited from candidates eligible for appointment to the post of Inspectors, Tax Assistants and Stenographers Grade-III.

The Central Board of Direct Taxes have extended the due date of filing income tax returns for the assessment year 2010-11 from 30th September 2010 up to 15th October 2010. The due date has been extended in view of disturbance to general life caused by floods.

The CBDT, Department of Revenue has listed the Notified Industrial Parks under section 80 IA(4)(iii) of the Income Tax Act, 1961 from 1-1-2008 till date.

The Central Board of Direct Taxes has extended the due date of filing of return of income for the Assessment Year 2010 - 2011 for all categories of cases in the state of Jammu and Kashmir.

The ITOs/ITIs/Ministerial Staff Examination 2010 has been rescheduled in view of elections in certain states and is now slated to commence from 26th October, 2010 and will end on 8th November 2010.

The Central Board of Direct Taxes has issued order regarding the allocation of work, performed by the respective sections of CBDT, stand transferred to the Directorate of Income Tax, Human Resource Development.

The Central Board of Direct Taxes (CBDT) has extended the due date of filing of income tax returns to 04-August-2010 for taxpayers for whom the due date ends today, which is 31-July-2010. All paper returns or e-returns filed on or before 04-August-2010 will be considered as filed within the due date.

A new Income Tax Office at Raghunathgunj, Jangipur, Dist. Murshidabad, West Bengal has been inaugurated by the Honorable Union Finance Minister Shri Pranab Mukherjee on 10.07.2010. Shri Prakash Chandra, Member (P&V), C.B.D.T., Shri Gautam Choudhuri, Chief Commissioner of Income Tax-I, Kolkata and Shri A.L.K.B. Chand, Chief Commissioner of Income Tax-X, Kolkata also graced the occasion. The new office is going to cater to the needs of a large section of Income Tax Assesses of Jangipur Sub-Division, who were earlier required to travel to Baharampur town, 65 k.m. away for any matter relating to Direct Taxes.

Net direct tax collections during first quarters of the present fiscal (up to June 2010) stood at Rs.68,675 crore, up from Rs.59,465 crore in the same period last fiscal, registering a growth of 15.49 percent.

The revised Agreement and the Protocol between the Republic of India and the Republic of Finland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by the Chairman, CBDT on behalf of Government of India and the Ambassador of Finland on behalf of Government of Finland on 15th January, 2010 and has come into force on 19th April, 2010.

New facility added in "My Account" for registered e-filers at www.incometaxindiaefiling.gov.in to view the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc. are correctly reported to the Department.

The Chief Commissioner of Income Tax, Chandigarh have issued Order of Jurisdiction for Commissioner(s) of Income Tax and Ranges of North West Region.

The process of drafting a new Vision document - Vision 2020 is nearing completion. An important component of the Vision 2020 document is the Citizen's Charter 2010. As a part of Vision 2020, the Citizen's Charter 2007 was revisited by a Working Group constituted by the CBDT.

The draft DTC along with the Discussion Paper was released in August, 2009 for public comments. The response from various stakeholders has been overwhelming and a number of valuable inputs have been received. CBDT has released the revised Discussion Paper on the draft Direct Taxes Code (DTC), which is being placed in the public domain to seek responses on the modified proposals. The major issues which have been addressed relate to Minimum Alternate Tax (MAT) on gross assets, tax treatment of savings - Exempt Exempt Tax (EET) vis-a-vis Exempt Exempt Exempt (EEE) basis, status of Double Tax Avoidance Agreements vis-a-vis the domestic law, the administration of the General Anti-avoidance Rule (GAAR), taxation of income from house property on a presumptive basis, tax treatment of capital gains and tax treatment of non-profit organizations, etc. The response on the revised Discussion Paper may be submitted electronically on the website 'http://finmin.nic.in' or may be sent to e-mail address 'directtaxescode-rev@nic.in' on or before 30th June, 2010.

Shri Pranab Mukherjee, Honorable Finance Minister delivered speech at the Inauguration of the 26th Annual Conference of Chief Commissioners / Directors General of Income Tax at New Delhi.

The Central Board of Direct Taxes notifies the new Amendments in the TDS Rules.

The Income Tax Department is extremely happy and proud to announce that Shri Debasish Biswas, an Income Tax Officer of West Bengal region has scaled the Mount Everest on 17th May, 2010 at 7:45 hours. Shri Biswas was accompanied by two other employees of the Income Tax Department, Kolkata region viz Shri Sourav Sinchan Mondal, Senior Tax Assistant and Shri Bivash Sarkar, Stenographer. Both of them were core members of successful team. This achievement is a matter of great honour for the Income Tax Department as a whole.

CBDT notifies New Income Tax Return Forms for the Assessment Year 2010-11.

Staff Selection Commission has recommended 115 candidates for appointment to the post of Income Tax Inspector in CBDT. The list of the recommended candidates is endorsed. As per the existing policy, CBDT will make Region/Charge-wise allocation of the candidates on merit-cum-preference basis.

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 Lottery and Income from Race Horses). CBDT also notifies Income Tax Return Verification Form ITR-V for Assessment Year 2010-11 for SARAL II (ITR-1) ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature.

The Central Government has approved notification of 'specified territory' for the purpose of Explanation 2 to Section 90 of the Income Tax Act 1961. Section 90 of the Income Tax Act was amended by the Finance Act 2009 to enable the Central Government to enter into an agreement with any specified territory outside India, in addition to the already existing provision of agreement with the government of any country. Explanation 2 provides for notification of such specified territories.

The Central Government have approved notification of ten year Deep Discount Bond (Zero Coupon Bond) of Rural Electrification Corporation Limited (REC) to be issued by 31st March 2011 as specified bonds for the purpose of sub-section 48 of section 2 of the Income Tax Act, 1961.

The Directorate of Income-tax (IT) has declared the result of ITO Examination 2009 for the old as well as new pattern. The certified copy shall be made available by the concerned CCIT/CIT(Incharge of Examination) only. As per the present grace policy, maximum 7 grace marks in aggregate are allowed in one or more subjects to fully pass the Examn. However, for availing exemption only in an individual subject, a candidate is given maximum 2% grace marks i.e maximum 2 marks if the paper is of 100 marks. This gracing policy has been applied while processing the result for the old as well as new pattern of the ITO Examination 2009.

CBDT has issued Corrigendum in the Notification of Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct taxes), number 9/2010 dated 18-02-2010 bearing S.O. 424(E) and published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated 18th February, 2010.

Net direct tax collections during first eleven months of the present fiscal (up to February 2010) stood at Rs.2,78,373 crore, up from Rs.2,58,902 crore in the same period last fiscal, registering a growth of 7.52 percent. Growth in Corporate Taxes was 10.89 percent (Rs.1,80,318 crore as against Rs.1,62,617 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 1.84 percent (Rs.97,692 crore as against Rs.95,930 crore).

TDS on payment of interest on time deposits under Section 194A by banks following CBS software.

The Chief Commissioner of Income Tax (CCA), Mumbai invites applications for the Recruitment of Meritorious Sports Persons in different games/sports as listed for various Income Tax Offices situated in Mumbai.

Click here for the Tax Calculator as per Union Budget 2010-11.

Notification issued by Ministry of Finance, CBDT, amending the rules regarding Time and mode of payment to Government account of tax deducted/collected at source or tax paid under Section 192/206C, Certificates of tax deducted/collected at source or tax paid, Quarterly statement of deduction/collection of tax.

Clarification regarding deduction under Section 80 CCD for contribution made under pension scheme in the light of Circular No-1 /2010 dated 11th Jan'2010 issued on the subject of Deduction of Tax at Source.

The Organization M/s School of Human Genetics and Population Health, Kolkata, has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) from Assessment year 2008-2009 onwards in the category of 'Other Institution', partly engaged in research activities.

The Organization M/s Sundar Lal Jain Charitable Eye Hospital, New Delhi, has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) from Assessment year 2009-2010 onwards in the category of 'Other Institution', partly engaged in research activities.

The Organization "The Indian Law Institute, New Delhi", has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) from Assessment year 2009-2010 onwards in the category of 'Other Institution', partly engaged in research activities.

The Chief Commissioner of Income Tax, Delhi-I, New Delhi, invites applications for the Recruitment of meritorious Sportspersons in different games, sports as listed for the posts of Inspectors and Tax Assistants.

Adjustment of "Advance Tax in respect of Fringe Benefits" for Assessment Year 2010-11 against "Advance Tax".

Notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board Of Direct Taxes), number 94/2009 dated 18.12.2009 bearing S.O. 3245(E) and published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated 18th December, 2009.

In exercise of the powers conferred by Explanation 4 to section 80G of the Income-tax Act, 1961(43 of 1961), the Central Government amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, vide S.O. 1246(E), dated the 29th November, 2002.

Refund Fraud scamsters Identified. Swift action by the Income tax Department to put in place a robust method of issuing refunds.

CBDT has notified that the new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010.

Revised Agreement and Protocol signed between the Republic of India and the Republic of Finland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA).

TDS Circular 1/2010 for Income-tax deduction from salaries during the financial year 2009-2010 under section 192 of the Income-tax act, 1961 Released.

All India TDS conference inaugurated by the Finance Minister, more tax collection expected in the last quarter. Momentum of growth from TDS to be augmented further.

Net direct tax collections during first three quarters of the present fiscal (up to December 2009) stood at Rs.2,50,232 crore, up from Rs.2,30,598 crore in the same period last fiscal, registering a growth of 8.51 percent.

Information has been received from several quarters that people are receiving electronic mails informing them of their income-tax refunds and seeking their credit card details. Taxpayers are, therefore, cautioned not to respond to such mails.

CBDT has issued the Circular No.9 issuing clarifications on the remittances to non-residents under section 195 of the Income-tax Act.

Some posts of Members in the Central Board' of Direct Taxes in the Department of Revenue in the pay scale of Rs. 80,000/- (Fixed) are likely to fall vacant in the next financial year i.e. 2010-11. Kindly see the letter dated 27.11.2009 of the CBDT for details regarding eligibility and proforma for application.

CBDT has issued the Circular No. 8 regarding applicability of provisions under Section 194J of Income Tax Act'61 on payments made by Third Party Administrators (TPAs) to hospitals on behalf of insurance companies for settling medical/insurance claims etc with the hospitals.

The CBDT has notified the rules to regulate the procedure of the Dispute Resolution Panel (DRP) constituted under section 144C of the Income Tax Act, 1961 inserted by the Finance Act 2009. The rules come into effect from 20th November 2009. Under the said rules, DRPs will be constituted at eight cities in India, namely Delhi, Mumbai, Ahmedabad, Kolkata, Chennai, Hyderabad, Bengaluru and Pune. The Dispute Resolution Panel will be a collegium comprising of three Commissioners of Income Tax. The mechanism is investor-friendly and is also expected to reduce taxpayer grievance and litigation.

Shri Durgesh Shankar joined as Member of the Central Board of Direct Taxes on 6th November. Shri Shankar belongs to 1973 batch of the Indian Revenue Service. Before joining the CBDT, he was a Chief Commissioner of Income Tax in Delhi. He has also served, on deputation, as Managing Director of Central Cottage Industries Corporation and Senior Director of Crafts Museum, Ministry of Information & Broadcasting, Department of Science & Technology and Ministry of Railways.

Net direct tax collections during first eight months of the present fiscal (up to November 2009) stood at Rs.1,83,822 crore, up from Rs.1,77,251 crore in the same period last fiscal, registering a growth of 3.71%.

CBDT has issued circular no 7 of 2009 by which it has withdrawn earlier circular no 23 dated 23rd July, 1969 and two related ciruclar nos 163 and 786.

The Directorate of Income-tax (IT) has issued Notification-IV dt. 19.10.2009 about Negative Marking and Paper IV of ITO Exam for the Departmental Examination 2009 and Observer List alongwith format for Observer's report.

The Directorate of Income-tax(IT) has issued tadmit cards and roll numbers to the candidates of the new pattern of the Departmental Examination 2009.The admit cards can be downloaded by the candidates by filling their application number and centre choice. ADMIT CARD - DE 2009 (NEW PATTERN)
Following instructions may be kept in mind by the candidates:-
(i) For ITO Examn., Asansol, Jalpaigudi candidates have been given Kolkata Centre.
(ii) For ITO/ITI Examn., Silchar candidates have been given Guwahati Centre.
(iii) For ITI Examn. Barelly candidates have been given Lucknow centre.
List of candidates ( 69 for ITO and 14 for ITI) who were not allotted admit cards for wrong eligibility as per application forms.

The old/new pattern of Departmental Examination 2009 for ITOs/ITIs/MS have been rescheduled in view of assembly elections in certain states.

The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs.50,000 (rupees fifty thousand)

Net direct tax collections during first six months of the present fiscal (up to September 2009) stood at Rs.1,52,625 crore, up from Rs.1,47,197 crore in the same period last fiscal, registering a growth of 3.69 percent. Growth in Corporate Taxes was 5.55 percent (Rs.1,00,572 crore as against Rs.95,283 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 0.38 percent (Rs.51,897 crore as against Rs.51,700 crore). Lower growth in net collection was mainly on account of higher tax refund outgo of 51.1 percent at Rs.28,281 crore as against Rs.18,717 crore last fiscal.

The Central Board of Direct Taxes has issued Notification for CPC Jurisdiction.

The Central Board of Direct Taxes have extended the due date of filing income-tax return and obtaining tax audit report under section 44AB of the Income Tax Act 1961, due on 30th September 2009, up to 31st October 2009 in the case of income tax assesses in Pune, Satara, Kolhapur and Sangli districts in the state of Maharashtra.

CBDT has Notified that the due date for filing tax return in Pune, Sangli & Kolhapur has been extended till 31st October 2009.

Net direct tax collections during first five months of the present fiscal (up to August 2009) stood at Rs.87,888 crore, up from Rs.84,409 crore in the same period last fiscal, registering a growth of 4.12 percent. Growth in Corporate Taxes was 1.84 percent (Rs.49,339 crore as against Rs.48,450 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 7.40 percent (Rs.38,491 crore as against Rs.35,840 crore). Lower growth in net collection was mainly on account of higher tax refund outgo of 52.61 percent at Rs.24,639 crore as against Rs.16,145 crore last fiscal.

CBDT has issued clarification vide Circular No. 6 of 2009 regarding the deduction of TDS on second installment of arrears to Government employees on account of implementation of Sixth Central Pay Commission’s recommendations and payment of the deducted tax to the account of the Central Government as per the Income-tax Rules.

The Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified ITR-V form, within a period of 30 days, thereafter. The ITR-V form was required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post.
It has now been decided to extend the time limit for filing the ITR-V form by relaxing the stipulations in the circular dated 21.05.2009. The ITR-V form relating to returns which have been filed electronically (without digital signature) on or after 1st April, 2009 can now be filed on or before the 30th September, 2009 or within a period of 60 days of uploading of the electronic return data, whichever is later. The ITR-V should continue to be sent by ordinary post to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100.

The Honorable Finance Minister released the Draft Direct Tax Code and the Discussion Paper on 12th August, 2009. An attempt has been made to simplify the language to enable better comprehension and to remove ambiguity to foster voluntary compliance. Kindly go to the official website of the Ministry of Finance to submit your comments.

Net direct tax collections during first four months of the present fiscal (up to July 2009) stood at Rs.73,990 crore, up from Rs.71,648 crore in the same period last fiscal, registering a growth of 3.27 percent. Growth in Corporate Taxes was 2.61 percent (Rs.42,685 crore as against Rs.41,598 crore), while Personal Income Tax (including STT, FBT and residual BCTT) grew at 4.33 percent (Rs.31,279 crore as against Rs.29,982 crore).

The 25th Annual Conference of Chief Commissioners & Directors General of Income Tax will be held at the Convention Hall, The Ashok, Chanakyapuri, New Delhi on 11th & 12th August, 2009. The Finance Minster will inaugurate and deliver the keynote address on 11th August 2009. The Conference will deliberate upon ways and means to maximise direct tax collections; further improve taxpayer services; and optimise response to taxpayer grievances.

Applications in the prescribed proforma are invited from the eligible aspirants for Appointment as Junior/Senior Standing Counsels for representing the offices of Income Tax Department before Honorable Madhya Pradesh High Court in direct taxes matters falling under the jurisdiction of Chief Commissioner of Income Tax, Indore.

The Chief Commissioner of Income-tax, (Cadre Controlling Authority), Ahmedabad, invites applications for the recruitment of meritorious Sportspersons in different games / sports as listed below in Group 'C' posts for various Income-tax offices situated in Gujarat.

The Directorate of Income-tax (IT) has issued Notification-II for the Departmental Examination 2009. The 2009 Examination for ITOs/ITIs shall be held both in the old as well as new pattern. For details, kindly see the 'Departmental News' section of the website.

Shri Narindar Singh (IRS – 1972 batch) has joined the Central Board of Direct Taxes as Member.

Net direct tax collections during first three months of the present fiscal (up to June 2009) stood at Rs.59,465 crore, up from Rs.57,373 crore in the same period last fiscal, registering a growth of 3.65 percent. Growth in Corporate Taxes was 3.31 percent (Rs.35,709 crore as against Rs.34,566 crore), while Personal Income Tax (including FBT and STT) grew at 4.38 percent (Rs.23,780 crore as against Rs.22,782 crore). Lower growth in net tax collection was mainly on account of higher tax refund outgo of 52.01 percent at Rs.17,600 crore in the present quarter as against Rs.11,578 crore in the first quarter last fiscal.

CBDT has notified that the Organization Eye Research Centre, Chennai has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-Tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-Tax Rules, 1962 (said Rules), with effect from Assessment Year 2009-10 in the category of 'Other Institution'.

The Department of Revenue has intimated the transfer of Operation and Maintainenace of two industrial Parks M/s. Akruti City Limited and M/s. Fern Infrastructure Pvt. Ltd.

Directorate of Income-tax (IT) has issued notification dt. 10.07.09 for 2009 Departmental Examination for ITOs/ITIs/MS alongwith new DE Rules and new Syllabus for all three cadres. The 2009 ITO/ITI Examn. would be held according to the new Rules and new Syllabus where MS Examn. would be held according to the 1998 Rules and corresponding syllabus. For MS Examination, the new rules would be effective from 2010 Examination onwards. Kindly see the 'Departmental News' section of the website for further details.

In supersession to all circulars and instructions of the Central Board of Direct Taxes (CBDT) has issued procedure for representation before BIFR and AAIFR.

Facility for electronic furnishing information relating to foreign remittances in Form 15CA in accordance with section 195 (6) of the Income-tax Act, 1961 read with rule 37BB of the Income-tax Rules, 1962 is available. Kindly see the Foreign remittance (Form 15CA) button on the Home page.

The CBDT have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being.

CBDT has issued a circular on remittances to non-residents under section 195 of the Income-tax Act.

The Central Board of Direct Taxes have issued a vide notification S.O. No.866 (E) dated 27th, March, notified the new forms ITR-1,ITR-2,ITR-3,ITR-4,ITR-5,ITR-6,ITR-7 and ITR-8 for Assessment Year 2009-10.

Net direct tax collections during first two months of the current fiscal (2009-10) stood at Rs.24,158 crore, up from Rs.22,840 crore, registering a growth of 5.77%. Growth in Corporate Taxes was 5.56% (Rs.8,578 crore as against Rs.8,126 crore), while Personal Income Tax (including FBT, STT and BCTT) grew at 5.92% (Rs.15,559 crore as against Rs.14,690 crore). Overall refund outgo during the period increased by 26.19% (Rs.11,375 crore as against Rs.9,014 crore) while refunds to non-corporate taxpayers grew by 61.7% (Rs.2,149 crore against Rs.1,329 crore), spurred by faster processing of returns on the new national computer network.

Net direct tax collection during the fiscal 2008-09 stands at Rs.338,212 crore, up from Rs.312,202 crore during 2007-08, registering a growth of 8.33 percent. Growth in Corporate Taxes was 10.84% , while Personal Income Tax (including FBT, STT and BCTT) grew at 9.09%. Despite economic slow-down and substantial relief to non-corporate taxpayers, direct tax collections exceeded the previous year's collection by about Rs.26,000 crore.

CBDT has issued Circular No.3 dated 21st May, 2009 explaining the provisions regarding filing of new ITRs for Assessment Year 2009-10.

CBDT has issued a circular clarifying the new provisions related to TDS and TCS payment issued vide Notification No. 858(E), dated 25th March, 2009.

The CBDT has decided to defer the implementation of Notification No.31/2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962. The amended / substituted Rules will now come into effect on 1st July 2009 instead of 1st April 2009.

CBDT has notified for general information that the organization The South Indian Education Society, Mumbai has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1.4.2009 in the category of ‘other Institution’.

The benefit of enhanced depreciation on commercial vehicles has been extended up to 30th September 2009 vide notification dated 21st April, 2009 issued by CBDT.

India and Syrian Arab Republic have revised the existing Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income.

CBDT has notified the ITR forms for the A.Y. 2009-10 (F.Y. 2008-09) vide Notification dated 27th March, 2009.

ConsequentWith reference to the EOI response submitted to Department of Income Tax for ‘End to End Implementation of Biometric Enabled PAN Issuance System’ vide F.No. oPAN/1/11/2008 on 09.03.2009, the consortiums of the Bidders have been short listed for the second stage of tendering process.

Consequent upon the retirement of Smt. Sunita Kaila, Member (Investigation), Shri C. S. Kahlon (1973 batch of the Indian Revenue Service) has joined the Central Board of Direct Taxes as Member.

CBDT has issued a notification S.O. 858(E)in exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961).

The last date of submission of responses (bids) in connection with the RFP dated 17th March, 2009, issued for appointment of Webmaster for Design, development, content management and maintenance of website of Income Tax Department has been extended to 20th April, 2009 (on or before 02:00 PM).

The Income Tax Department has issued responses/clarifications on the queries raised by the respondents in connection with the RFP dated 17th March, 2009, issued for appointment of Webmaster for Design, development, content management and maintenance of website of Income Tax Department. Please visit tender page for details.

The Income Tax Department has issued clarifications on the RFP dated 17th March, 2009, issued for appointment of Webmaster for Design, development, content management and maintenance of website of Income Tax Department. Please visit tender page for details.

Directorate of Income Tax (Systems) invites Bids from reputed, established and reliable Service Provider (SP) for Design, development, maintenance and content management of Income Tax Department website (www.incometaxindia.gov.in ).Last date of submission of bid is 13th April, 2009. Please visit tender page for details.

Net direct tax collections during first eleven months of the present fiscal (up to February 2009) stood at Rs.258,902 crore, up from Rs.232,676 crore, registering a growth of 11.27 percent. Growth in Corporate Taxes was 16.79 percent (Rs.162,617 crore as against Rs.139,241 crore), while Personal Income Tax (including FBT, STT and BCTT) grew at 3.03 percent (Rs.95,930 crore as against Rs.93,111 crore). Direct tax collections have so far reached 70.93 percent of the Budget Estimates target of Rs.3,65,000 crore, and 76.37 percent of the Revised Estimates target of Rs.3,45,000 crore.

CBDT has issued a notification enhancing the financial jurisdiction of the valuation officers by amending Rule 3A of the Wealth Tax Rules, 1957. (S.O. 470(E) dated, 13th February, 2009).

The Government has decided to enlarge the scope of the existing Tax Return Preparer (TRP) Scheme and authorize them to prepare and furnish returns of Tax Deducted at Source (TDS) and Service Tax, in addition to income-tax returns. To carry out the aforesaid decision, the Central Board of Direct Taxes (CBDT) has decided to retrain the TRPs. For this purpose, a retraining course consisting of 15-day self-study followed by classroom training will be organized for TRPs relating to Income Tax and for Service Tax. Please visit the website www.trpscheme.com for details.

A link has been placed on the website for accessing soft version of questionnaire which are to be furnished to Cadre Review Committee.

A book Let us Share, a publication by the Income Tax department, was released on 4th February 2009 in a public function held at Mavlankar Hall, Rafi Marg, New Delhi by the Minister of State for Finance (Revenue) Shri S. S. Palanimanikkam. The function, organized by the Central Board of Direct Taxes (CBDT) and the Delhi Chief Commissionerate of the Income Tax Department (ITD) was attended by senior officials, representatives of industry, commerce and professions, and other eminent personalities.

Net direct tax collections during first ten months of the present fiscal (up to January 2009) stood at Rs.247,396 crore, up from Rs.218,538 crore, registering a growth of 13.21%. Growth in Corporate Taxes was 17.32% (Rs.157,039 crore as against Rs.133,851 crore), while Personal Income Tax (including FBT, STT and BCTT) grew at 6.71% (Rs.90,010 crore as against Rs.84,349 crore). Direct tax collections have so far reached 67.78% of the Budget Estimates target of Rs.3,65,000 crore.

CBDT has issued a notification revising scales of valuation fees to be charged by a registered valuer by amending Rule 8C of the Wealth Tax Rules, 1957. (S.O. 379(E) dated, 30th January, 2009).

Shri S. S. N. Moorthy today took over as Chairman of the Central Board of Direct Taxes on retirement of Shri N. B. Singh. Shri Moorthy belongs to 1973 batch of the Indian Revenue Service. Before joining the CBDT as Member in August 2008, he was Director General of Income Tax (Investigation) in Mumbai for over two years. Shri Sudhir Chandra, also from the 1973 batch of the IRS, joined the CBDT today as a Member. Before joining the CBDT, he was Chief Commissioner in Ghaziabad for over 2 years.

CBDT has issued a notification that the organisation The Institute of Chartered Accountants of India , New Delhi has been approved in the category of "Other Institution" , partly engaged in research activities.

CBDT has issued a notification that the organisation World Wide Fund for Nature - India , New Delhi has been approved in the category of "Other Institution" , partly engaged in research activities.

CBDT has issued a notification changing the due dates for filing Quarterly TDS statements in the case of non-residents to 15th July, 15th Oct, 15th Jan for the first three quarters of the financial year and for the last quarter, 15th June following the last quarter of the financial year. (S.O 220(E) dated, 21st January, 2009).

CBDT has issued a notification allowing enhanced depreciation @ 50% on new commercial commercials purchased and put to use on or after 01.01.09 and before 01.04.09 for the purpose of business or profession. (S.O. 197(E) dated, 19th January, 2009).

The CBDT has approved the issue of tax-free bonds of India Infrastructure Finance Company Limited carrying an interest rate of up to 8% aggregating to an amount of Rs.10,000 crore during the financial year 2008-09.

A decision has been taken not to further extend the last date of submission. The last date of submission of EOI response remains 09/03/2009.

To view the PAN allotted for the last three years state wise and year wise click here

Last date of submission for EOI response of Multimodal Biometric PAN project stands extended from 23/02/2009 to 09/03/2009 (on or before 14:00hrs).

The last date for seeking clarifications has been extended from 09.02.2009 to 13.02.2009. This is for information to the vendors interested in multimodal Biometric PAN project.

Directorate of Income Tax (Systems), Income Tax Department, Jhandewalan Ext., New Delhi has invited for submission of Expression of Interest (EOI) from Service Provider (SP) for end to end implementation of PAN (Permanent Account Number) issuance system along with implementation of Multimodal Biometric Solution for duplicate matching. Go to tender page for details.

CBDT has issued a notification that the organisation Aeronautical Development Agency , DRDO Bhawan , New Delhi has been approved in the category of Scientific Research Association.

CBDT has issued a notification that the organisation Centre for Liquid Crystal Research , Bangalore has been approved in the category of Scientific Research Association.

CBDT has issued a notification that the organisation Centre for Materials for Electronics Technology , Pune has been approved in the category of Scientific Research Association.

Central Board of Direct Taxes(Tax Policy & Legislation Division) has issued a circular for the Definition of ‘Charitable purpose’ under section 2(15) of the Income-tax Act, 1961

Cadre Review and Restructuring of Income tax Department In light of the DoPT, Government of India, decisions pursuant to the 6th Central Pay Commission recommendation, a Cadre Review exercise has been initiated for restructuring of Income tax Department to enable and equip the Department to meet challenges of today and tomorrow. A Cadre Review committee has been constituted in this regard.

Central Government has made some amendments to the Industrial Park Scheme, 2008. See the Notification dated 28th November, 2008 for the details.

A Slide Show (demonstration) has been prepared for the preparation of the TDS Returns. Kindly see the TDS Section on the Home page.

Net direct tax collections during first eight months of the present fiscal (up to November 2008) stood at Rs. 177,251 crore, up from Rs.145,053 crore, registering a growth of 22.2%. Growth in Corporate Taxes was 26.82%, while Personal Income Tax grew at 15.28%. Direct tax collections have already reached 48.56% of the Budget Estimates of Rs.3,65,000 crore, which is pegged at 16.07% above the actual collection of Rs.3,14,468 (provisional) during the last fiscal (2007-08).

A Double Taxation Avoidance Agreement has been signed between India and Tajikistan on 20th November, 2008. The Agreement has also provided for the exchange of information between the tax authorities of the two countries.

220 candidates, who were in the waiting list for appointment to the post of Tax Assistant, have now been allocated to the various Regions/ Charges in the CBDT.

Net direct tax collections during first seven months of the present fiscal (up to October 2008) stood at Rs.166,905 crore, up from Rs.128,864 crore, registering a growth of 29.52%. Growth in Corporate Taxes was 33.49%, while Personal Income Tax grew at 23.14%. The momentum of growth in direct taxes could be maintained, despite present global financial crises / recession and its resultant impact on the Indian economy, mainly on account of a shift in the tax collection strategy of the Central Board of Direct Taxes (CBDT) towards improving the tax deduction at source (TDS) mechanism and encouraging better tax compliance.

CBDT has issued a new Form of report for claiming deduction under sub-section (11C) of Section 80-IB of the Income-tax Act vide Notification dated 22nd October, 2008.

Staff Selection Commission has recommended 118 candidates for appointment to the post of Steno Gr. III in CBDT. The Region/Charge wise allocation of the candidates on merit-cum-preference basis has been issued by the CBDT. List of Successful Candidates. The successful candidates are directed to indicate/exercise his/her preferences in the proforma, duly filled/completed in all respect immediately by speed post or Currier, so as reach it within 21 days from the date of issue of this letter. Memorandum

CBDT has issued Circular No. 9 on Tax Deduction at Source. A clarification on taxability of arrears of salary received/receivable on account of 6th Pay Commission recommendation is also placed at Page-39 of the Circular.

The Central Board of Direct Taxes have extended the last date of filing of income tax returns, due by 31st July 2008, to 31st October 2008 in the state of Sikkim in view of the delay in issuing of Instruction No.8/2008 in respect of filing of income-tax return by non-Sikkimese residing in that state.

CBDT has clarified in the Press Release issued on 30th September, 2008 that that TDS would be deducted u/s 192 only from the arrears of salary actually paid during FY 2008-09. On the balance, tax would be deducted during the financial year in which these pay arrears are actually paid.

The Central Board of Direct Taxes have extended the last date of filing of income tax returns and obtaining tax audit report under section 44AB of the Income Tax Act, 1961, due by 30th September 2008, to 31st October 2008 in the state of Orissa in view of the disruption caused due to floods in the state.

The Central Board of Direct Taxes have extended the last date of filing of income tax returns and obtaining tax audit report under section 44AB of the Income Tax Act, 1961, due by 30th September 2008, to 30th November 2008 in the state of J&K, in view of the dislocation caused due to law and order problem in the state.

CBDT has issued Notification No.90 and Notification No.91 related to computation of income in case of relief claimed under double taxation provisions.

The CBDT has extended the due date for filing of returns and tax audit reports from 30th September, 2008 to 30th November, 2008, in the cases of income-tax assessees in Bihar after considering the disruption caused by the floods in the state.

CBDT has issued Notification dated 21.08.2008 through which services rendered by certain persons in relations to the sport activities has been notified as Professional Services for the purpose of Section 194J.

The directorate of BPR has circulated a note on BPR study which contains re-designed processes and recommendations which would decide the future direction of the Department. It is a major initiative taken by the Government in the area of tax reform globally. It will also ensure bonding and trust with the taxpayers.

List of 815 canditates who have qualified Graduate Level Examination, 2005 and recommended for appointment to the post of Income Tax Inspector in the Income Tax Department have been allotted charges.

Regularization of qualified workers appointed against sanctioned post in irregular manner as well as casual workers in Non-statutory Canteens/Tiffin Rooms located in Central Government offices.

CBDT has issued Circular No. 7 through which corporations which are set up for the welfare and economic upliftment of ex-servicemen and whose income qualifies for exemption from income-tax have been exempted from TDS/TCS on their receipts.

The facility of e-filing of income-tax returns has received overwhelming response from the taxpayers. As on 31st July 2008, 12.49 lakh e-returns were filed compared to 1.46 lakh e-returns filed up to the same date last year. About 97 percent of the 12.49 lakh e-returns have been filed voluntarily by individuals, professionals and small businesses.

Net direct tax collections during first six months of the present fiscal (up to September 2008) stood at Rs.147,197 crore, up from Rs.111,055 crore, registering a growth of 32.54%. Growth in Corporate Taxes was 35.65%, while Personal Income Tax grew at 26.94%. Continued high growth in tax collections (including self assessment taxes) indicates inherent strength of the Indian economy and continued improvement in tax administration as well as in tax compliance levels.

To facilitate e-payment of taxes CBDT has clarified that an assessee can make e- payment of taxes from the account of any other person. It is also clarified that tax deducted at source (TDS) or tax collected at source (TCS) shall fall within the meaning of tax for the purpose of e-payment.

To enable taxpayers to file returns in the electronic mode, Income Tax Returns (except ITR-7) have been made annexureless. The CBDT has issued clarifications on annexureless returns.

The Income Tax Department clarifies that the media reports on processing of tax returns and issuance of refunds are delayed due to shortage of manpower are incorrect and misleading.

CBDT has notified Industrial Park Scheme 2008 expanding the ambit of industrial activity to include research and experimental development on natural sciences and engineering, development of computer software, and information technology enabled services.

Net direct tax collections in the first five months in the present fiscal (up to August 2008) stood at Rs.84,409 crore, up from Rs.61,030 crore, registering a growth of 38.31 percent. The cost of direct tax collection, on the other hand, which had declined to an all-time low of 0.54 percent during fiscal 2007-08, is likely to further decline to about 0.43 percent during the current fiscal, the lowest among all large economies in the world.

The growth in Corporate TDS in First Quarter of 2008-09 is 60.5% as against 43.1% in last years. Combined growth rate of advance tax and TDS this year is 40.3% as against 34.3% last year. So, it is erroneous to deduce that there is slowdown in economy.

Net direct tax collections up to July 2008 stood at Rs.71,648 crore, up from Rs.48,756 crore, registering a growth of 46.95 percent. The cost of direct tax collection, on the other hand, had declined to an all-time low of 0.54 percent during 2007-08, amongst the lowest in the world.

The CBDT has extended the due date for filing of returns from 31st July, 2008 to 30th September, 2008, in the cases of income-tax assessees in J&K after considering the dislocation of general life caused due to the law and order problem.

As a part of the modernization of computer infrastructure in the Income Tax Department, the Computer Centers at Amritsar, Baroda and Rohtak will be shutdown for a period from 27.06.2008 to 09.08.2008. During this period the work of issue of PAN card would be stopped completely in these centers.

Over 10 Lakh e-returns have been filed by 29th July, and the number is expected to cross over 13 lakh by 31st July compared to 1.6 lakh e-returns received last year for the same period.

Shri Narendra Bahadur Singh has taken over as Chairman of the Central Board of Direct Taxes with effect from the afternoon of 30 June 2008.

Net direct tax collections in the first quarter of the present fiscal stood at Rs.57,373 crore, up from Rs.41,391 crore, registering a growth of 38.61 percent.

During Annual Conference of Chief Commissioners & Directors General of Income Tax the FM observed that trend of voluntary tax compliance has gone up in the country.

The Portuguese tax administration has adopted new forms for the execution of the convention for the DTAA. The previous twelve forms have been substituted by four new forms (Mod. 21-RFI to Mod.24-RFI).

Indian resident taxpayer having income from sources in China would be required to quote their Permanent Account Number (PAN) allotted in India when applying for benefits under the Indo-Chinese Double Taxation Avoidance Agreement (DTAA).

The Income Tax Department denies allegations of delay in issuance of Permanent Account Number (PAN) to Foreign Institutional Investors (FIIs).

Income Tax Act as amended by the Finance Act 2008 is now available on this website.Click here

CBDT has notified the Forms of the return of income for the assessment year 2008-09 vide notification S.O. 752(E) dated 28-3-2008. The returns can be e-filed by clicking here and for Forms click here.

The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Government of the Union of Myanmar for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 2nd April, 2008.

Clause 48 of the Finance Bill, 2008 proposes to insert a new sub-section (1B) in section 271 of the Income-tax Act to clarify the proposed amendment to penalty proceedings.

Shri Rabender Singh Mathoda has taken over as Chairman of the Central Board of Direct Taxes with effect from 1st May, 2008.

The CBDT has issued Circular No. 3 containing explanatory notes to the provisions of Finance Act, 2007.

To view the webcast of the budget presentation, download the Budget documents, and Economic Survey 2007-08, Click here

The threshold limit for PAN quoting without which TDS/TCS returns will not be accepted has been enhanced to 95% from 90% in case of Form 24Q and to 85% from 70% in case of Forms 26Q and 27EQ. The enhanced limits will be applicable for and from the quarter ending 31.03.2008.

Electronic payment of taxes has been made mandatory for all corporate assesses and all assesses to whom provisions of section 44AB of the Income Tax Act are applicable from 1st April, 2008.

CBDT has issued a notification inserting a new Rule 40D amending Rule 40C of the Income Tax Rules clarifying the guidelines for valuation of ESOPs.

Shri Prasanna Kumar Misra has taken over as Chairman and Shri S. S. Khan as Member of the Central Board of Direct Taxes with effect from 01 April 2008.

Net direct tax collections stood at Rs.2,28,745 crore, up from Rs.1,61,776 crore during the same period last fiscal, registering a growth of 41.40 percent and achieving over 85 percent of budgeted direct tax target of Rs.2,67,490 crore.

CBDT has extended the due date for filing of quarterly statements of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for the quarter ending 30th September 2007 to 29th February 2008.

Direct tax collections continued to record a growth of over 40 percent for the period April to January 15 in the current fiscal. Net tax collections stood at Rs.2,17,149 crore, up from Rs.1,52,993 crore during the same period last fiscal, registering a growth of 41.93 percent and achieving over 81 percent of budgeted direct tax target of Rs.2,67,490 crore.

In his first live videoconference, the Finance Minister addressed the Chief Commissioners of Income Tax and complimented them for the remarkable performance of the Income Tax department, particularly on the revenue side.

CBDT has notified the Rules relating to Industrial Park Scheme, 2008.

Directorate of Income Tax (Human Resources Development) has been constituted under the Central Board of Direct Taxes.

Central Board of Direct Taxes has extended by an Order under section 119 of the Income-tax Act extended the due date for filing returns of income for all categories of assesses to 29.2.2008, if the assessee has,- (i)filed the return on or after 14th May, 2007; and (ii) filed the return in a form other than one of the forms notified for assessment year 2007-08.

Investment by an individual or a Hindu undivided family (HUF) in Five Year Post Office Time Deposit Account and Senior Citizens Savings Scheme during the previous year 2007-08 and subsequent years, shall be eligible for deduction under section 80C of the Income-tax Act.

Finance Minister, Shri P.Chidambaram, released a Circular titled "Fringe Benefit Tax on Employee Stock Option Plans - Frequently Asked Questions", at Mumbai. The Circular clarifies in a question and answer format the queries raised by industry associations, chambers of commerce and tax practitioners on issues relating to levy of FBT on ESOPs.

CBDT has prescribed the revised schedule of fees payable to Standing Counsels of the Income-tax Department before various High Courts. The procedure for appointment of counsels and renewal of their terms has also been prescribed by specifying the requisite qualification and terms and conditions of their engagement.

Rule 3 of the Income-tax Rules, 1962 has been amended to give consequential effect to the amendment to section 17 of the Income-tax Act made by the Finance Act, 2007.

Direct tax collections continued to record a growth of over 40 percent for the first nine months of the current fiscal. Net tax collections stood at Rs.2,06,029 crore, up from Rs.1,44,286 crore during the same period last fiscal, registering a growth of 42.79 percent and achieving over 77 percent of budgeted direct tax target of Rs.2,67,490 crore.

The Income Tax department has already issued over 30 lakh refunds in the first 7 months of this fiscal involving a total amount of Rs.18,448 crore. Refund payouts in non-corporate personal income tax category are ahead by 47.16 percent as compared to the first 7 months of last fiscal (Rs.6,135 crore against Rs.4,169 crore).

The Central Board of Direct Taxes has extended the due date for filing the Returns due by 31st October in the case of electronic returns (companies, and firms requiring tax audit u/s 44AB) to 15th November 2007; and for paper returns (other than those required to file electronic returns) to 2nd November 2007.

Rule 40C, relating to rules for valuation of shares for Fringe Benefit Tax on ESOPs has been inserted in the Income Tax Rules, 1962. This Rule will take effect from assessement year 2008-09 and subsequent assessement years.

Updated version of the File Validation Utility (FVU) to prepare e-TDS/e-TCS returns has been released. The FVU is to be used for all e-TDS/e-TCS returns to be filed after 30/9/2007.

TDS returns for salaries, with less than 90% of PAN, and TDS returns for payments other than salaries and TCS returns, with less than 70% of PAN data will not be accepted for the quarter ending on 30.9.2007 and thereafter.

Scope of mandatory filing of e-TDS returns has been expanded to include deductors who are required to get their accounts audited under section 44AB and those having fifty or more deductee records.

Shri R. N. Upadhyay, Member, Central Board of Direct Taxes, passed away on 20th November 2007. He was an IRS officer of 1971 batch. He is survived by his wife, a son and two daughters.

Direct tax collections maintained a growth of over 40 percent up to the period ended October 2007. Net tax collections stood at Rs.1,28,864 crore, up from Rs.90,180 crore during the same period last fiscal registering a growth of 43.15 percent.

The Central Board of Direct taxes had extended the last date of filing of income tax returns due by 31st October 2007 to 31st December 2007 in the state of Bihar in view of the disruption caused by floods in the state.

The Income Tax department has conducted a search on a business family on the basis of information that it is involved in unaccounted draft discounting.

Direct tax collections maintained a growth of over 40 percent for the six-month period ended September 2007. Net tax collections stood at Rs.1,11,055 crore, up from Rs.79,208 crore during the same period last fiscal.

The Central Board of Direct taxes have extended the last date of filing of income tax returns due by 31-October-2007 to 31-December-2007 in the state of Bihar in view of the disruption caused by floods in the state.

Direct tax collections recorded a growth of 42% for the five-month period ending August 2007.

Staff Selection Commission has recommended 207 PH/OH & Ex-servicemen for appointment to the post of Tax Assistants in the Pay-scale of Rs. 4000-6000/-.

The list of allocation of tax assistants selected by the Staff Selection Commission to various regions and the waiting list of candidates has been released.

Based on specific intelligence inputs, the Investigation wing of the Income Tax department recovered Rs.4.92 crore cash in a search conducted on persons / concerns engaged in mobilizing deposits for investment schemes and auto finance in Thane. The cash was found stacked in the residence of an employee of the main concern.

Direct tax collections during fiscal 2007-08 have recorded a growth of 44.39% up to 15th August, 2007. Tax collections stood at Rs.59,210 crore, up from Rs.41,006 crore during the same period last fiscal.

The Central Board of Direct Taxes have further extended the last date of filing of income tax returns due by 31 July 2007 to 15 September 2007 in the state of Bihar in view of the continued disruption caused by floods in the state.

Government has notified the rules governing the administration of Income-tax Welfare Fund established for the benefit of the officers and staff of the Income-tax department.

CBDT has notified Cost Inflation Index for financial year 2007-08.

To provide quality taxpayer service, the Income Tax Department has initiated a Taxpayer Education Programme where the taxpayers are trained in filling up the new Income Tax Return forms ITR 1, 2 and 4. It involves a tutorial which provides step by step information on how to fill up these forms. There is a voice over in English which explains the contents of the slide. The officers of the Department will train the taxpayers with the help of this tutorial.

From 1.10.07 onwards, all income tax refunds in Bangalore, Chennai, Delhi, Kolkata and Mumbai will be delivered by the Refund Banker directly at the communication address mentioned on the Return of Income. Taxpayers are requested to fill in the correct address (available during working hours for delivery) to ensure speedy delivery of refunds. In the case of taxpayers who opt for refunds through ECS, it will be credited directly to the bank account for which correct MICR code/ Bank Account Number has to be furnished on the Return.

The Central Board of Direct Taxes has issued Circular No. 4 dealing with distinction between shares held as investment (capital asset) and shares held as stock-in-trade (trading asset).

The Central Board of Direct Taxes has allowed the deductors, at their option, in respect of the tax to be deducted at source from income under the head Salaries to use their digital signatures to authenticate the certificates of deduction of tax at source in Form No.16.

CBDT has notified new Income Tax Return Forms.

CBDT has issued Circular No1 of 2007 explaining the nature and effect of the amendments carried out by Taxation Laws (Amendment) Act, 2006 with reference to provisions existing before these amendments to the Income-tax Act, 1961.

Central Board of Direct Taxes had prescribed new Form No.16 and Form No.16A vide Notification S.O. 455 (E) dated 26th March, 2007. The Board has issued certain clarifications in this regard.

It has been reported in some sections of the media that a large number of taxpayers are awaiting refunds from the Income Tax department for up to three years. These reports are factually incorrect and based on incomplete appraisal of facts.

The videoconference facility of the income tax department, connecting the senior most functionaries was inaugurated by the Finance Minister Sri. P. Chidambaram. This is expected to facilitate faster communication, quick decision making and better customer service. In his address, the FM stated that direct taxes are the taxes of the future."In a growing economy, more taxes should be direct taxes, therefore, role of the CBDT and Income Tax department will become more and more important".

Finance Minister P. Chidambaram has launched the pilot of Refund Banker Scheme under which the Income Tax refunds determined by the department will be sent by the State Bank of India directly to the taxpayers.

In exercise of powers conferred under section 119 of the Income Tax Act, CBDT has directed income tax authorities to accept returns of income on 31-03-2007 upto 8.00 PM.

Process has been initiated for appointment of Income Tax Ombudsmen for Bangalore, Hyderabad, Ahmedabad, Pune, Bhopal and Kolkata, etc.

To view the webcast of Finance Ministers speech and to download the budget documents, click here.

Vigorous growth with strong macroeconomic fundamentals has characterized developments in the Indian economy in 2006-07 so far. Economic Survey 2006-2007

Persons who possess more than one PAN are required to surrender all extra PAN numbers that may have been allotted to them. The extra PAN numbers have to be surrendered latest by 23rd February 2007.

The net direct tax collections as on 31st January stood at Rs.1,56,429 crore, up by 41.2% over the collection of Rs.1,10,780 crore in the corresponding period last year.

Ms. Baljeet Matiyani has taken over as Income Tax Ombudsman for Delhi. The Ombudsmans address is Office of Income Tax Ombudsman, Room No. 251, CR Building, IP Estate, Delhi, 110002. For details on Ombudsman Scheme Click here

In its ongoing drive against tax evasion, the Income Tax department has detected tax evasion of over Rs.1,700 crores.

The net direct tax collections as on 18th December, 2006 stood at Rs.1,33,461 crores, up by 42.5% over the corresponding period last year.

The guidelines are to enable the resolution of complaints relating to public grievances.

CBDT has issued Circular No. 11 containing the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2006-2007 and explaining certain related provisions.

The Department of Revenue has announced a revised deputation policy for IRS Officers.

The Finance Minister has launched a Tax Return Preparers Scheme to train unemployed and partially employed persons to assist small and medium taxpayers in preparing their returns of income. Press Release

CBDT streamlines procedure for approvals to scientific research institutions under section 35(1)(ii) & 35(1)(iii) of the Income Tax Act.

CBDT tightens procedure for issue of refunds.

Guidelines have been issued to the service providers (M/s UTITSL & NSDL) to facilitate allotment of PAN to citizens of India residing outside India, foreign citizens and other persons (like companies/trusts/firms) having no office of their own in India. Complete particulars are available on their websites.

CBDT has empowered Chief Commissioners and Director Generals of Income Tax to reduce or waive off the interest charged under section 234A, 234B and 234C of the income tax Act in certain classes of cases or classes of income.

The Income Tax department is writing letters to persons who have more than one PAN. If you have received such a letter, please follow the instructions and contact your assessing officer. If you have more than one PAN but have not received such a letter, please click here or furnish necessary particulars through any of the following modes:

The CBDT has announced broad criteria for selecting cases for scrutiny.

In view of the heavy rush of applications for Tax Return Preparer Scheme (TRPS), CBDT has extended the last date for graduates to submit their applications from 24 November 2006 to 30 November 2006.

Department of Revenue has announced vacancies for the post of Members CBDT and Member Settlement Commission

The CBDT has extended due date for obtaining the report of audit under section 44AB of the Income Tax Act and furnishing the Return of Income and the Return of Fringe Benefits in case of companies for the assessment year 2006-2007 from 31st October to 30th November, 2006.

Electronically filing of returns in Form 1 is mandatory for companies.

CBDT has modified Form No. 3CD, which is prescribed under the Income-tax Rules, 1962 for audit report in respect of the accounts of certain specified persons carrying on business or profession.

CBDT has extended the due date for furnishing of return of income and/ or return of fringe benefits for the assessment year 2006-07 from 31-July-2006 to 31-October-2006 in all cases of non-corporate taxpayers (including partners of the firms and charitable trusts and institutions).

In case of individuals and HUFs not having income under the head Profits and gains from business or profession, the due date for filing of return of income shall continue to be 31st July, 2006.

CBDT has notified amendments in the existing Rule 12 of the Income-tax Rules, 1962 vide Notification S.O. No. 1163(E) dated 24-July-2006, substituting the existing forms (Form No. 1, Form No. 2, Form No. 3) with three new Forms (Form No. 1, Form No. 2, Form No. 3) and introducing a new Form No. 3B for furnishing return of income and return of fringe benefits.

From July 26, 2006, Returns of Income may be filed either at the Income Tax office or at the designated post offices in the city where the taxpayer is assessed. Government has designated 2000 Post Offices for this purpose. To file through a Post Office, Returns may be prepared in duplicate and one copy should be submitted in an unsealed envelope of size 10x12 without folding. Details of i) PAN, ii) Name of the Taxpayer, iii) Address of the Taxpayer, iv) Assessment Year and v) Ward/Circle where assessed should be written on the envelope. Post Offices will give a duly stamped acknowledgement in the second copy. Search Post Offices

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing tax returns to October 31 from July 31, for those filing non-auditable accounts, but the salaried tax payers will have to file returns by July 31.

The Taxation Laws (Amendment) Act, 2006 (29 of 2006) carries out amendments in the Income-tax Act, 1961, with the object of rationalizing and simplifying procedures, widening of tax base and plugging loopholes leading to leakage of revenue. It received the assent of the President of India on 13 July, 2006.

The Central Board of Direct Taxes has notified the bonds of Rural Electrification Corporation Ltd. (REC) and National Highways Authority of India (NHAI) for exemption under section 54 EC of the Income Tax Act, 1961. It has also issued an order under section 119(2) (c) extending the time limit for making the investments under section 54EC.

Income Tax Department is setting up Help Centres to assist the tax-payers in preparing returns of income, challans and filing PAN applications. The Help Centres will also assist tax-payers in computing taxable income and income tax payable. They will be open on working days and will start working from 15th June to 14th August 2006.

CBDT has extended the due date for electronic filing of quarterly statement of TDS in form 24Q for the last quarter to 31-July-2006.

With a view to make return filing easier the Central Government has notified a new income-tax return form, Form 2F, for Assessment Year 2006-07.

Updated data structure for preparation of quarterly statements of TDS from Salaries in form 24Q for the quarter ending 31-March (fourth quarter).

Form 24Q for filing return of TDS from salaries has been amended.

Form 16 which is the certificate issued by employers, under section 203 of the Income Tax Act, for TDS on salaries has been revised. Download Form 16

CBDT has notified amended Rule 31AC and introduced Rule 31ACA and also amended form 26QA and introduced Form 26QAA for the quarterly return to be furnished under Section 206A (1). Notification

Finance Act, 2005 Explanatory Notes on provisions relating to Direct Taxes (other than Banking Cash Transaction Tax and Fringe Benefit Tax).

The Income Tax department seeks inputs from organizations engaged in providing biometric solutions to ensure uniqueness of Permanent Account Number (PAN).More