Search For "income tax act"
Govt. clarifies status of political parties under Income Tax Act
Updated : 8 years, 8 months ago IST
New Delhi [India], Dec. 17 (ANI): The Ministry of Finance, Department of Revenue, and Central Board of Direct Taxes on Saturday issued a joint statement giving a clarification on status of political parties under Income Tax Act, 1961.
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I.T. department issues clarification of status of political parties under
Updated : 8 years, 8 months ago IST
New Delhi [India], Dec.17 (ANI):There have been some newspaper reports which seem to wrongly suggest that there cannot be any scrutiny of Income-tax returns of political parties registered with the Election Commission in the context of deposits of old currency notes. This inference seems to
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CBDT issues norms for filing of revised 'Income Tax Returns' by
Updated : 8 years, 8 months ago IST
New Delhi [India], Dec 14 (ANI): Under the existing provisions of section 139(5) of the Income-tax Act, 1961 ('Act'), Revised Return can only be filed if any person, who has filed a return under section 139(1) of the Act or in response to notice u/s 142(1), discovers any omission o
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CBDT extends due date for filing of Income Tax Returns
Updated : 8 years, 8 months ago IST
New Delhi [India], Sep 10 (ANI): The Central Board of Direct Taxes (CBDT) has announced extension for the due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September of the following year.
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Approval for eligible projects under Section 35AC of IT Act only till Dec.
Updated : 8 years, 8 months ago IST
New Delhi, Aug.19 (ANI): The Department of Income Tax has said that requests received after December 31, 2016 for grant, modification and extension of approval for eligible projects or schemes under Section 35AC of the Income Tax Act, 1961 beyond March 31, 2017 shall not be considered or ent
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CBDT announces framework for computation of book profit for MAT levy
Updated : 8 years, 8 months ago IST
New Delhi, Aug.5 (ANI): A committee had been constituted, with the approval of the Finance Minister, to suggest the framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant co
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CBDT extends date for filing income tax return to August 5
Updated : 8 years, 8 months ago IST
New Delhi, July 30 (ANI): As per provisions of Section 139(1) of Income-tax Act 1961, Central Board of Direct Taxes (CBDT) on Friday extended the due date for filing returns of Income for Assessment Year 2016- 2017 from July 31 to August 5 in case of taxpayers throughout India, who are liab
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CBDT seeks suggestions on draft rules on income from buy back of unlisted
Updated : 8 years, 8 months ago IST
New Delhi, July 25 (ANI): The income tax department, which falls under the jurisdiction of the Ministry of Finance has issued draft rules for prescribing the manner of determination of amount received by the company in respect of a share under Section 115QA of the Income-Tax Act, 1961.
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