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: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT RATES :: due date for vat payment :: TDS :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
News Headlines »
 Govt to simplify income tax laws, sets up task force under taxman Arbind Modi to study overhaul
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 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

E-filing of tax returns to be up 9 times
August, 16th 2007
E-filing of income tax returns is likely to increase sharply to 3 million in the current financial year (2007-08), up from around 322,000 in 2006-07.
 
Non-corporate assessees, whose accounts are audited under Section 44AB of the Income Tax Act, are expected to account for a bulk of these filings, with as many 2.5 million e-returns expected from them this year.
 
Partnership firms and businesses whose turnover exceeds Rs 40 lakh a year and professionals whose income exceeds Rs 10 lakh a year come under this category, for whom e-returns were made mandatory from this year onwards.
 
Corporates, for whom e-filing was made mandatory last year, are expected to file around 322,000 e-returns. For both the above categories, the last date for filing returns is October 31, 2007.
 
Till July 31 this year, around 146,000 e-returns had already been filed by salaried individuals and businessmen for whom e-filing is optional. Only 3,300 assessees had filed e-returns till July 31, 2006.
 
The rapid increase in e-returns will test the Income Tax Departments preparedness to process such returns. The department has recently set up a National Computer Centre connecting 745 locations in 510 cities and towns across India. Work is in progress to set up a National Data Centre by December this year, official sources said.
 
After the new architecture is in place, there will be speedier processing of returns and prompt issue of refunds, the sources added.
 
Going forward, more individual taxpayers may prefer to file returns online to avoid the hassles of filing returns manually at a designated office, officials said.
 
Besides faster processing of returns and greater efficiency in collection, the departments technology initiative is expected to enhance capacity to handle the projected workload up to 2010-11.
 
To make e-filing smooth, the department has also redesigned the tax return forms. Now called the Income Tax Return (ITR) form series 1 to 8, the forms are annexure-less, except ITR-7.
 
The total number of income tax returns filed in 2007-08, including e-returns, is expected to be slightly higher than the 35 million in 2006-07.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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