« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Report for tax cuts on G-sec investments... New CA syllabus announced... » FinMin no to raising bond limits of NHAI September, 02nd 2006 The finance ministry is not considering further increasing the bond limit of Rural Electrification Corporation and National Highways Authority of India. This move will impact investors who wanted to save on payment of capital gains tax by investing in these bonds. Bonds of REC and NHAI, to be issued during financial year 2006-07, had been notified by government on June 29 for Rs 4,500 crore and Rs 1,500 crore respectively. Both the bonds have been fully subscribed. There is no proposal at the moment to increase the limit of the bonds. Investors who are keen to invest their capital gains should park such gains in the capital gains bank account, A K Sinha, spokesperson for the Central Board of Direct Taxes said. Section 54EC of Income-tax Act, 1961, provides tax exemption on capital gains arising from the transfer of a long-term capital asset, if such capital gains are invested in certain bonds within a period of six months after the date of such transfer. The government had notified REC and NHAI bonds for the purpose in the budget this year. Asked when the CBDT would notify the final guidelines to establish whether an entity or individual investing in the stock market was an investor or a trader, Sinha said, The department is in the process of formulating the policy. It is likely to finalise its position in the next one or two months. Commenting on the income tax returns received, Sinha said 1.26 crore returns had been received during April 1-July 31 compared with 0.77 crore in the corresponding period last year. Of the total returns, 4 lakh returns had been filed through post offices. Asked if the Mauritius Double Taxation Avoidance Agreement was being reviewed, he said, Mauritius has agreed for discussion which includes everything including a review. He however declined to discuss the specifics of the case. On the issue of duplicate Permanent Account Numbers, he said the department had detected 13 lakh duplicate PANs which would be removed within the intended deadline of December 31.