| ETDS statement software for FY 2011-12 by TDSMAN Posted: 06 May 2011 08:03 PM PDT 
TDSMAN is a simple to use software ideally suited for filing eTDS returns. Among a host of features it offers, the software can be used for F.Y 2011-12 and all previous years. This implies that apart from all quarters of 2011-12, one can also file returns for 4th quarter of 2011-12. This software is fully updated to support FVU Ver. 3.2. It also has an inbuilt module for "Correction... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Several frequent flyers to tax havens declared annual income as low as Rs 1 lakh Posted: 06 May 2011 07:21 PM PDT 
In a startling discovery, the Income Tax department's intelligence wing has discovered that several individuals who had made 30 to 60 trips in a year to jurisdictions like Switzerland, Bahamas, Cayman Islands, Mauritius and Dubai have declared annual income of as little as Rs 1 lakh and, in a few cases, no income at all. [...] Several frequent flyers to tax havens declared annual income as low as... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| NSDL upgrades FVU – Version 3.1 to Version 3.2 etds return Posted: 06 May 2011 07:52 PM PDT 
NSDL has released a new version of File Validation Utility - Version 3.2. The change is pertaining to the validation for threshold transactions and the same has been incorporated in e-TDS/TCS FVU for quarterly statement of FY 2010-11 onwards. The frequent upgradations are leading to many complexities in filing returns for the fourth quarter which must be filed by 15th May 2011. TDSMAN is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| TDS on Hired vehicle on fixed amount Covered under 194C not 194I Posted: 06 May 2011 07:09 PM PDT 
Briefly, the facts of the case are that the assessee is a local authority and is engaged in development of areas in and around Ahmedabad outside municipal limits. It was seen that the assessee had hired cars on fixed rent payments but TDS was deducted @ 2% treating the same as contract. Since the cars are one type of machinery, and rent is paid at fixed monthly rate, according to the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Eight Tax Calculators For Android Phones for Free ! Posted: 06 May 2011 09:47 AM PDT 
An Android phone tax calculator for CA,ICWA,MBA Finance ,Lawyers ,tax professionals & taxpayers has just been released.The application is absolutely free.Now computing tax for financial year 2011-12 & also FY 2010-11,interest u/s 234A,234B & 234C , HRA exemption, rent free accommodation perquisite,leave salary exemption, gratuity exemption, how much tds for Fy 2011-12 shall be a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Make Rs 50,000 payment via cell phone Posted: 05 May 2011 06:56 PM PDT 
Relaxing the norms for making payments using mobile phones, known as m-wallet, the Reserve Bank decided to increase the limit of money-loading to Rs 50,000 from the existing limit of Rs 5,000."The maximum value of such prepaid semi-closed m-wallet shall not exceed Rs 50,000," a RBI notification said. Leading mobile operators Bharti Airtel and Vodafone had tied up with SBI and ICICI... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Diesel & petrol may cost Rs 5 more from next week Posted: 05 May 2011 06:31 PM PDT 
Fuel prices will rise next week as the government is planning to increase the state-set price of diesel by up to Rs 5 per litre while oil companies are preparing to raise petrol rates by a similar amount after assembly polls end on May 10. The empowered group of ministers (EGoM) on fuel prices, which fixes the price of diesel, cooking gas and kerosene, will meet on May 11 to consider the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| I-T raids conducted on Ahmedabad Realty majors Posted: 28 Apr 2011 06:43 AM PDT 
Ahmedabad Realty majors were taken by complete surprise on Wednesday, when the I-T department began a search and survey operation on their premises. With a team of over 150 officials the Income Tax department targeted the premises of four real estate groups in the city which they suspected of tax evasion and parking of black [...] I-T raids conducted on Ahmedabad Realty majors is a post from:... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| CBDT not empowered to tap phone calls ! Posted: 27 Apr 2011 07:38 PM PDT 
The Cabinet Secretariat has ruled that mere tax evasion does not form valid ground for interception of phones, thereby clarifying that the Central Board of Direct Taxes is not an authorised agency to tap phones and eavesdrop on conversations of citizens. The Cabinet Secretariat concurred with the Supreme Court's ruling that 'phone taps must be [...] CBDT not empowered to tap phone calls ! is a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
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