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: ACCOUNTING STANDARD :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TDS :: VAT Audit :: articles on VAT and GST in India :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

FM to take up annual returns with I-T bosses
July, 04th 2006

Finance Minister P Chidambaram will on Tuesday brainstorm with chief commissioners and director generals of Income Tax plans to utilise data mined through the Annual Information Returns.

This is the first item on the agenda for the two-day annual meeting. Briefing reporters ahead of the conference, Central Board of Direct Taxes Chairman M H Kherawala said the focus would be on strategies to maximise revenues, reducing revenue arrears and widening of the tax base.

She said in view of the increased significance of computerisation in the income tax department, the meeting would also focus on computerisation of information through third party sources.

In addition to this administrative matters such as preventive vigilance, matters relating to infrastructure and the Right to Information Act would also be covered.

Kherawala said that the income tax department is hoping to receive more income tax returns this year compared with the Rs 2.64 crore returns received during 2005-06.

We are hoping to receive more returns since now all partnership firms have to file their returns irrespective of their income or losses suffered.

Also filing of returns has been made compulsory for all those whose total salary exceeds the exemption threshold of Rs 1 lakh, Rs 1.35 lakh for women and Rs 1.85 lakh for senior citizens. These categories have to file their returns even if the net income is not taxable, Kherawala said.

Kherawala said the CBDT had not set any target for the returns expected this year.

She also urged small tax payers to take advantage of the help centres set up by the department for two months up to August 15, which provide assistance free of costs to file returns and apply for Permanent Account Number.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

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