February 2010

India Budget Highlights 2010 - 2011

Key Features of Budget 2010-2011 CHALLENGES ! To quickly revert to the high GDP growth path of 9 per cent and then find the means to cross the ‘double digit growth barrier’. ! To harness economic growth to consolidate the recent gains in making development more inclusive. ! To address...

Due dates for TDS

TDS Rates Applicable for AY 2010-11 (FY 2009-10). 194-I: Rental Payments Earlier rates: Plant and Machinery = 10% Land or building or furniture or fittings to Individual/HUF = 15% Land or building or furniture or fittings to Others = 20% Revised Rates Plant and Machinery = 2% Land or building or furniture or fittings to anyone = 10% 194-C: Contracts Earlier...

Income Tax Rates and calulation A.Y 10-11

ASSESSMENT YEAR 2010-2011 RELEVANT TO FINANCIAL YEAR 2009-2010 I TAX RATES FOR INDIVIDUALS OTHER THAN II & III Up to 1,60,000 - Nil 1,60,000 to 3,00,000 - 10% of the amount exceeding 1,60,000 3,00,000 to 5,00,000 - Rs.14,000 + 20% of the amount exceeding 3,00,000 5,00,000 &...

Income from Salary Computation A.Y 10-11

Section 192 of the Income-tax Act, 1961 - Deduction of tax at source - Salary - Income-tax deduction from salaries during the financial year 2009-10 CIRCULAR NO. 1/2010 [F. NO. 275/192/2009 IT(B)], DATED 11-1-2010 Reference...

Whats New

Notification no. 12/2012 [F.NO.142/15/2011-SO (TPL)]/S.O. 344(E), DATED 28-2-2012

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - Competition Commission of India Read More

Notification no. 11/2012 [F.NO.142/15/2011-SO (TPL)]/s.o. 343(E), DATED 28-2-2012

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - National Skill Development Corporation Read More

Notification No. F. 71-Ad(AT)/2012, dated 7-2-2012

Income-tax (Appellate Tribunal) Amendment Rules, 2012 - Amendment in rules 2, 4A, 9, 26 & 34A; deletion of proviso to rule 35A and substitution of words 'Income Tax Officer' and "Appellate Assistant Commissioner" Read More

NOTIFICATION NO. 10/2012 [F.NO. 178/7/2011-ITA-I], DATED 21-2-2012

Section 80-IA of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial infrastructure undertakings, etc. - Notified undertakings Read More

NOTIFICATION NO. 9/2012 [F. No.225/283/2011-ITA(II)], dated 17-2-2012

Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13 Read More

Notification No. 7/2012 [F.No.178/56/2011-(ITA.I)], dated 14-2-2012

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies Read More

Notification No.6/2012 [F.No. 178/56/2011-(ITA.I)], dated 14-2-2012

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies Read More

Notification No.5/2012[F.No.142/25/2011-SO(TPL)], dated 6-2-2012

Income-tax (Second Amendment) Rules, 2012 - Insertion of rule 114DA and Form No.49C Read More

Circular No. Order No. 1/FT&TR/2012 Dated 31/01/2012

Section 144C of the Income-tax Act, 1961 - Dispute Resolution Panel (DRP) - Reference to - Constitution of DRP at specified places Read More

Circular No. Press Release No. 402/92/2006-MC (4 of 2012) Dated 27/01/2012

Signing of Convention on Mutual Administrative Assistance in tax matters as amended by the 2010 Protocol by India Read More