Income Tax Act as amended by the Finance Act 2008 is now available on this website. Click here
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.
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
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
