Archive for the ‘I Tax’ Category

Withdrawal of Clarification dated 05.09.2011 on Grace Marks Policy for promotion

Withdrawal of Clarification dated 05.09.2011 on Grace Marks Policy for promotion The Clarification dated 05.09.2011 delegating the job of application of Grace Marks Policy to DPCs is withdrawn. F.No. DE-2009/ITO/SCT/Availed Benefits/DIT(IT)/5466 DIRECTORATE OF INCOME TAX (IT) Ministry of Finance, Department of Revenue Dated : 13.12.2012 Withdrawal of clarification -I dated 05.09.2011 This Directorate vide F.No.DE-2009-2011/ITO/SCT/Availed [...]

December 18, 2012  Tags: , , , , , , , , ,   Posted in: I Tax  No Comments

Exemption of Transport Allowance from the purview of Income Tax- Enhancement of exemption limit from Rs. 800/- to Rs. 3200/- plus D.A. thereon : NFIR

Exemption of Transport Allowance from the purview of Income Tax- Enhancement of exemption limit from Rs. 800/- to Rs. 3200/- plus D.A. thereon : Railway Board orders NFIR published an important order regarding the enhancement of Income Tax exemption limit for Transport Allowance to Railway employees… DC/JCM Item No 24/2012 – Exemption of Transport Allowance [...]

December 13, 2012  Tags: , , , , , , ,   Posted in: Allowances, I Tax, Railways, TA  No Comments

Income Tax Section 80CCG – Finmin approves of the new ‘Rajiv Gandhi Equity Saving Scheme’ (RGESS)

New Tax Saving Scheme under Income Tax Section 80CCG – ‘Rajiv Gandhi Equity Saving Scheme’ (RGESS) Finance Minister approves the Operational Features of the Rajiv Gandhi Equity Savings Scheme (RGESS) The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called “Rajiv Gandhi Equity Saving Scheme“(RGESS),exclusively for the first time retail investors [...]

December 1, 2012  Tags: , , , ,   Posted in: I Tax  No Comments

Income Tax Refund Status – Check your status through online…

Income Tax Refund Status – Check your status through online… ‘Refund Banker Scheme’ – Check your Income Tax Refund status through online The Income Tax Department has already introduced the provision to know the status of Income Tax Refund through online. As shown in the official website of TIN-NSDL you can verify the status of [...]

November 20, 2012  Tags: , , ,   Posted in: I Tax  No Comments

Income Tax Refund : FAQ on Refund Bankers

Income Tax Refund : FAQ on Refund Bankers FAQ / Refund From which date the refund banker has been implemented? The refund banker has been implemented from January 24, 2007. In which cities the refund banker has been implemented ? The refund banker facility is operational for non-corporate taxpayers assessed all over India. Who will [...]

November 20, 2012  Tags: , , , ,   Posted in: I Tax  No Comments

INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 201 2-2013 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961

OFFICE OF THE CONTROLLER GENERAL OF DEFENCE ACCOUNTS Ulan Batar Road, Palam, Delhi Cantt-110010 No.AN/XIV/14119/l.Tax-IX Dated 09.11.2012 To All the PCsDA /CsDA (Through CGDA Mail Server) SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 201 2-2013 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. Government of India, Ministry of Finance, Department of Revenue, Central [...]

November 12, 2012  Tags: , , , , ,   Posted in: I Tax  One Comment

Exemption of Transport Allowance on Income Tax : Enhancement of exemption limit from Rs.800 to Rs.3200

Exemption of Transport Allowance on Income Tax : Enhancement of exemption limit from Rs.800 to Rs.3200 NFIR demanding to enhance the limit of exemption in Transport allowance on Income Tax from the existing level of Rs.800 to Rs.3200 plus Dearness allowance thereon. Already in Departmental Council JCM meeting the Staff Side had agreed to make [...]

September 1, 2012  Tags: , , , , , ,   Posted in: Allowances, Finmin Orders, I Tax, TA  11 Comments

Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012

Press Information Bureau Government of India Ministry of Finance 31-July-2012 17:17 IST Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012 On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the [...]

July 31, 2012  Tags: , , ,   Posted in: I Tax  No Comments

Representative Assessees of Non-Residents and in the Case of Private Discretionary Trusts

CBDT Relaxes Compulsory E-Filing of Return of Income for Assessment Year 2012-13 – for Representative Assessees of Non-Residents and in the Case of Private Discretionary Trusts Rule 12 of the Income-tax Rules, 1962 mandates that an individual or Hindu undivided family, if his or its total income or the total income in respect of which [...]

July 31, 2012  Tags: , , , ,   Posted in: I Tax  No Comments

Gujarat to pay fourth installment of Sixth Pay Commission to government employees in cash during 2012-13

Gujarat to pay fourth installment of Sixth Pay Commission to government employees in cash during 2012-13 Ahmedabad, Tuesday: Gujarat Government will disburse the fourth installment of the difference in salary and recommendations of the Sixth Pay Commission during the financial year 2012-13 in cash to 8.20-lakh present and retired government employees, Chief Minister Narendra Modi [...]

May 19, 2012  Tags: , ,   Posted in: I Tax, Uncategorized  No Comments