No delay in issuance of PAN to FIIs |
| The Income Tax Department denies allegations of delay in issuance of Permanent Account Number (PAN) to Foreign Institutional Investors (FIIs). |
| Income Tax Act, 2008 |
| Income Tax Act as amended by the Finance Act 2008 is now available on this website. |
| Chairman CBDT |
| Shri Rabender Singh Mathoda has taken over as Chairman of the Central Board of Direct Taxes with effect from 1st May, 2008. |
| Filing of Income-tax Returns for A.Y.2008-09 |
| CBDT has notified the Forms of the return of income for the assessment year 2008-09 vide notification S.O. 752(E) dated 28-3-2008. The returns can be e-filed by clicking here and for Forms click here. |
| DTAA with Myanmar |
| The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Government of the Union of Myanmar for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 2nd April, 2008. |
| Clarification on amendment to penalty proceedings |
| Clause 48 of the Finance Bill, 2008 proposes to insert a new sub-section (1B) in section 271 of the Income-tax Act to clarify the proposed amendment to penalty proceedings. Press Release |
| Explanatory Notes to the Finance Act, 2007 |
| The CBDT has issued Circular No. 3 containing explanatory notes to the provisions of Finance Act, 2007. Circular |
| Union Budget 2008-2009 |
| To view the webcast of the budget presentation, download the Budget documents, and Economic Survey 2007-08, click here. |
| Mandatory quoting of PAN in TDS/TCS returns |
| The threshold limit for PAN quoting without which TDS/TCS returns will not be accepted has been enhanced to 95% from 90% in case of Form 24Q and to 85% from 70% in case of Forms 26Q and 27EQ. The enhanced limits will be applicable for and from the quarter ending 31.03.2008. More |
| E- Payment of Taxes made mandatory |
| Electronic payment of taxes has been made mandatory for all corporate assesses and all assesses to whom provisions of section 44AB of the Income Tax Act are applicable from 1st April, 2008. Press Release |
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Friday, May 23, 2008
Tax 2008
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