Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: form 3cd :: empanelment :: TDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
News Headlines »
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit

No cash flow statement needed for I-T returns
May, 01st 2007

In a major relief to salaried and other individual taxpayers, the Finance Minister, Mr P. Chidambaram said that the Government has decided to drop the proposed requirement of attaching a cash flow statement in their income-tax returns for financial year 2006-07.

It has in turn come up with a new series of eight tax return forms for various categories of assesses, including the salaried class, for assessment year 2007-08 (financial year 2006-07).

These forms, to be described as ITR-1 to ITR-8, have been designed as annexure-less returns (except ITR-7 for charitable trusts and political parties) to make them compatible for electronic filing. The forms are to be notified on May 14.

For individuals, there are now four types of forms applicable to those with salary and interest income only; those with income from any source except from business or profession; partners in firms and not having proprietory business or profession and those having proprietory business or profession.

For the salaried class, there are two options 2-page back-to-back return or a 3-page return. He also said that individuals would now be required to furnish information about high-value transactions that get reflected in annual information returns of third parties. The other four forms are for income and fringe benefit tax returns for firms, companies, charitable trusts and a standalone form for fringe benefit tax in respect of persons not liable to file income-tax return but liable to file return of fringe benefits.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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