INCOME TAX MATTERS ( A monthly journal on - Income tax and wealth tax- since 1999) - ( subscription for the year 2011 (TWO VOLUMES) is only Rs. 2000/-) - For subcription and to Know more click here

 

Old postings under Income tax law

 

Committee constituted – to curb generation of black money in India, its transfer abroad and its recovery. — Memo. 291/2011 dated 27-05-11 [(2011) 18 ITM 25(JS)]

 

Section 139 of the Income-tax Act, 1961 – Return of income – Exemption from requirement of furnishing return of income for A.Y. 2011-12 where income does not exceed Rs. 5 lakhs – Assessee has option to avail said exemption. — F.No.142/09/2011 dated 25-07-11 [(2011) 18 ITM 27(JS)]

 

A firm is required to digitally sign Income-tax return. An individual or HUF to whom section 44AB apply is required to digitally sign Income-tax return. — S.O.1497 (E) dated 01-07-11 [(2011) 18 ITM 42(JS)]

 

Deductions from income from house property — Article by P.C. Garg (Advocate) — [(2011) 18 ITM 52(JS)]

 

 

POSTED ON 10-6-2011 - IT :Amendment in Notification No.S.O.672(E), dated 27-7-1995 regarding exemption under Section 10(23AAA) of the Income-tax Act, 1961 which relates to Income received by any person on behalf of fund established for welfare of employees or their dependents - NOTIFICATION NO.33/2011[F.NO.197/12/2010-ITA-I]/S.O. 1295(E), DATED 03-06-2011  - If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

POSTED ON 10-6-2011 - IT : Amendment in Notification No.G.S.R. 607(E), dated 9-6-1989 regarding Exemptions under Section 10(15)(i) of the Income-tax Act, 1961 which relates to - Income by way of interest, etc. , on bonds, securities - Specification of bonds, securities , etc., issued by Central Government - - NOTIFICATION NO. 32/2011[F.No.173/13/2011-ITA.I] /S.O.1296(E), DATED 03-06-2011- If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

Posted on 6-6-2011 - IT - PPF (HUF) accounts, which had attained maturity after 13-5-2005 but closed by subscribers before 7-12-2010 are entitled to interest at PPF rate. - LETTER [F.NO.7/4/2008-NS.II], DATED 01-06-2011 - If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

  

Posted on 1-6-2011 - IT - New CBDT Chairman.

Shri Prakash Chandra, an IRS (IT) officer of the 1973 batch, took over as Chairman of the Central Board of Direct Taxes. -If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

Posted on 30-5-2011 - IT - Creation of a new Directorate of Income-tax (Criminal Investigation) under Income tax and wealth tax law - NOTIFICATION NO. 29/2011 [F.NO. 286/179/2008-IT(INV.II)], DATED 30-5-2011 - If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

Posted on 30-5-2011 IT- No disallowance of expenditure u/s 43B of I.T. Act, 1961 can be made if payment of such expenditure is made within the extended period for filing return of income. - If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

Posted on 30-5-2011 - IT - Amendment in Rule 114B of the Income-tax Rules, 1962 relating to PAN - NOTIFICATION NO. 27/2011 [F. NO. 149/122/2010-SO(TPL)], DATED 26-05-2011 - If you are subscriber of "INCOME TAX MATTERS" check your email, otherwise, subscribe "INCOME TAX MATTERS"

 

 

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