Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: cpt :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT Audit :: due date for vat payment :: VAT RATES :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
Direct Tax »
 GST: Renaming Central Board of Excise and Customs to CBIC may take a while
 CBDT notifies new scrutiny notices with e-facility for taxpayers
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules

New Direct tax code queries
November, 30th 2009
I am a senior citizen. I invest Rs 1 lakh every year in ELSS plans of various mutual funds since 2008-09 and will continue to do so till 2010-11. Under the new direct tax code effective from April 2011 the tax exemption on ELSS investments will be withdrawn. What will happen when I shall start withdrawing from financial year 2011-12? 
Narendra Lal Kundu, Hooghly 
 
The new direct tax code has a proposal to implement exempt-exempt-tax system and withdraw the benefit of tax exemptions to investments such as ELSS, but it is still in a draft form and has not yet been enacted. Things will become clearer when the draft is presented before Parliament for ratification. However, if EET is implemented, it will most likely be with prospective effect and not retrospective effect. All investments made after the promulgation of the new direct tax code will come under the EET regime and not those made before that date. 

Below threshold
I am 62 years old and a housewife. I have interest income from post office monthly income scheme, Senior Citizen Savings Scheme and bank fixed deposits. The total annual income is less than Rs 1,80,000. Do I need to pay income tax and submit returns?
Mukul Pandit, Calcutta
  
The basic exemption limit on annual income for women has been increased to Rs 1,90,000 for financial year 2009-10. Since your annual income is below the threshold limit, you dont have to pay tax or file tax return.
 
Return route
I was employed in Bhilai and hence I had been filing my tax return there. Now after retirement I came back to Calcutta. I am still filing my IT return at Bhilai. Is it okay?
S.K. Mallik, Narendrapur

You can change your income tax ward for filing return from Bhilai to Calcutta. Find out on www.incometaxindia.gov.in in which IT jurisdiction you belong to now. Go to jurisdiction of officers under the about us section. Once you identify the income tax ward/circle, contact the assessment officer there.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions