Tag: cbdt
-
Direct Tax up 13.18 %, Corporate Tax up by 9.66 %, Wealth 13.38 %
As Tax Authorities became smart and Tax Payers become responsible citizens, aggregate Tax collection rised! Gross direct tax collection during April-November of the F.Y. 2013-14 is up by 13.18 percent at Rs.3,68,655 crore as against Rs.3,25,736 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 9.66…
-
-
Tax Slab in India 2013-14-Individual
Tax slab Rates of individual for the Fy 2013-2014.In case of Individual (including women) whose age is not more than sixty years.,resident individual who is of the age of sixty years or more but not more than the age of eighty years during the previous year and In case of individual who is of the…
-
Govt set up Tax Administration Reform Commission (TARC)
TAARC functions to review the existing mechanism and recommend appropriate organizational structure for tax governance with special reference to deployment of workforce commensurate with functional requirements, capacity building,vigilance administration, responsibility and accountability of human resources, key performance indicators, assessment, grading and promotion systems,
-
Authorized banks for e-payment procedure
e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of these Authorized Banks.
-
Is saving account interest is taxable?
With effect from assessment year 2013-2014,a new section 80TTA hasbeen introduced for providing deduction for interest income.sec. 80TTA provides that, any interest income derived from deposits in a savings account (not time deposits) will be allowed as deduction. Interest income up to Rs 10,000 in aggregate shall be allowed as deduction while computing Total Income.…
-
SURAKSHIT-CBEC’s Information Security Newsletter
Central Board of Excise and Customs (CBEC) the custodian of the country’s central indirect tax data, launches “SURAKSHIT”, an information security newsletter. Surakshit is a bi-annual newsletter, published for the purpose of exchange of ideas and information related to the field of information security like emerging issues, security tips, interesting news snippets, etc… CBEC has…
-
Last date for filing ST-3, 31st August
ST-3(Return under section 70 of the Finance Act, 1994) By an order (Order No: 03/2013) Central Board of Excise & Customs(CBEC) has extended due date for submission of ST-3 to 31st August, 2013(which was 25th April,2013) for the period from 1st October, 2012 to 31st March, 2013. The circumstances which gives rise to this extention…
-
Tax benefit on house loan
Repayment of principal amount of loan taken from any bank, state/central government, LIC, NHB, etc. for the purpose of construction or purchase of a residential house property, the income of which is chargeable to tax under the head income from house property.A deduction of amount paid as repayment of principal amount on loan taken for…
-
Deductions Permissible u/s 80C
Deductions on Life Insurance Premium, contribution to Provident Fund, etc. (sec. 80C) Any sum paid or deposited to keep in force insurance on the life on an individual or his spouse any child of such individual and any member of HUF. Deduction is allowed only where the premium paid does not exceeds 20% of the…