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Hurry! Last date for filing return July 31st

Assessee’s not required to compulsory audit has to file income tax return on or before 31st July 2013(for assessment year 2013-2014 financial year 2012-2013) .They can either file their return electronically or submit directly to income tax office. it is made mandatory to make e-filing

for those assessee’s whose Total Income in the previous year exceeds Rs 5,00,000.

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Import duty on Sugar increased to 15 per cent

At last demand of Indian Sugar Mills Association(ISMA) and the National Federation of Cooperative Sugar Factories (NFCSF) for increasing demand duty has been met. Import duty on sugar to 15 % from 10 % will helps to reduce importing of sugar. Meeting was conducted in the presence of Finance Minister P. Chidambaram, Agriculture Minister Sharad Pawar

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Agreement signed between India and Albania for the avoidance of double taxation

On 8th July 2013 government of India and Albania signed an agreement on avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital. The agreement was signed by Dr. Sudha Sharma, chairperson, CBDT, on behalf of the government of India and Mr. Fatos Kerciku, Ambassador , Republic of Albania on behalf of the government of Albania.

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Government of India seeks external assistance for reconstruction in Uttarakhand

In order to provide sufficient fund to the state of Uttarakhand, the ministry of finance, government of India has decided to seek external assistance from Multilateral Development Banks (MBD) like Asian Development Bank (ABD) and the World Bank. Shri Shaktikanta Das, Additional secretary, department of economic affairs, ministry of finance ,who will led the joint […]

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