STI NEWS;Things to keep in mind when you file tax returns” plus 2 more

STI NEWS;Things to keep in mind when you file tax returns” plus 2 more


Things to keep in mind when you file tax returns

Posted: 07 Apr 2011 08:05 PM PDT


Filing tax returns is an annual mandate that tax payers have to comply with, the last date for which is in sight i.e. July 31st, 2011. In a haste to meet the deadline, make sure you do not miss key elements that can cause trouble later. Critical information should be cross verified No income tax return will be accepted without the PAN and incorrect PAN can result in a fine being levied....

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EPFO FACES 7KCR TAX DEMAND ON EARLY WITHDRAWALS

Posted: 07 Apr 2011 07:27 PM PDT


The Income-Tax Department has slapped the Employees Provident Fund Organisation (EPFO) with an unprecedented tax demand for failing to tax premature withdrawals by account holders,a move that could saddle the organisation with liabilities of more than Rs.7,000 crore.The Central Provident Fund Commissioner,Samirendra Chatterjee,who oversees the EPFO,said the I-T departments decision to slap these...

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Income-tax : Explanatory Notes to the provisions of the Finance Act, 2010

Posted: 07 Apr 2011 07:15 PM PDT


Circular No. 1/2011 [F.No. 142/1/2011-SO(TPL)], dated 6-4-2011AMENDMENTS AT A GLANCE Section/ScheduleParticulars/Paragraph number  Finance Act First ScheduleRate Structure, 3.1-3.3-6  Income-tax Act 2(15)Change in the Definition of "charitable purpose", 4.1-4.4 9Income deemed to accrue or arise in India to a non-resident, 5.1-5.4 10AAComputation of exempted profits...

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