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Due date for filing of income tax return extended till 04-Aug-2010
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The Central Board of Direct Taxes (CBDT) has extended the due date of filing of income tax returns to 04-August-2010 for taxpayers for whom the due date ends today, which is 31-July-2010. All paper returns or e-returns filed on or before 04-August-2010 will be considered as filed within the due date.
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Certificate of Merit given at the function held at New Delhi on celebration of 150 years of Income Tax in India.
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Income Tax Department celebrated 150 years of Income Tax in India on 24th July 2010 simultaneously at New Delhi and 19 other Cadre Controlling Chief Commissioner charges across the country. The Honorable Finance Minister, Shri. Pranab Mukherjee released Citizen's Charter 2010 of the Department and dedicated the same to the nation.
The Charter is a declaration of the commitment of the Department to the taxpayers in the form of service delivery standards with specific timelines for delivery of key services. A documentary entitled "Teen Sadiyon Ka Safar", taking the viewers through the journey of Income Tax in India, was also screened on the occasion.
"Let us Share - A Compilation of Best Practices & Orders" started as an initiative of Income Tax Department to create an Institutional Memory for the Department, has now been made available to taxpaying public as well. The second public version of "Let us Share" was released by Honorable Minister of State for Finance, Shri. S.S. Palanimanickam on 24th July 2010. The book published by the Income Tax Department, pages 277 & price Rs.295, is available for purchase at the leading book stores across the country.
The Central Board of Direct Taxes has also instituted a system of Awards to its officers and staff on the basis of their outstanding contributions to the knowledge management initiative "Let us Share". Certificates of Merit were awarded to 70 Officers and Staff of the Department across the country during the celebration of 150 years of Income Tax. 267 officers and staff were also given Certificates of Appreciation for their contribution to the third volume of "Let us Share" along with 55 certificates to the officers helping with the evaluation of the contributions and editing of the publication.
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Inauguration of Income Tax Office at Raghunathgunj, Jangipur, District Murshidabad,
West Bengal by Honorable Union Finance Minister Shri Pranab Mukherjee on 10.07.2010.
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A new Income Tax Office at Raghunathgunj, Jangipur, Dist. Murshidabad, West Bengal has been inaugurated by the Honorable Union Finance Minister Shri Pranab Mukherjee on 10.07.2010. Shri Prakash Chandra, Member (P&V), C.B.D.T., Shri Gautam Choudhuri, Chief Commissioner of Income Tax-I, Kolkata and Shri A.L.K.B. Chand, Chief Commissioner of Income Tax-X, Kolkata also graced the occasion. The new office is going to cater to the needs of a large section of Income Tax Assesses of Jangipur Sub-Division, who were earlier required to travel to Baharampur town, 65 k.m. away for any matter relating to Direct Taxes.
CBDT Press Release on Tax collections during first quarter.
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Net direct tax collections during first quarters of the present fiscal (up to June 2010) stood at Rs.68,675 crore, up from Rs.59,465 crore in the same period last fiscal, registering a growth of 15.49 percent.
Revised Agreement between Republic of India and the Republic of Finland with respect to taxes on DTAA.
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The revised Agreement and the Protocol between the Republic of India and the Republic of Finland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by the Chairman, CBDT on behalf of Government of India and the Ambassador of Finland on behalf of Government of Finland on 15th January, 2010 and has come into force on 19th April, 2010.
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New Facility added for Registered E-filers
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New facility added in "My Account" for registered e-filers at www.incometaxindiaefiling.gov.in to view the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc. are correctly reported to the Department.
Order of Jurisdiction of Commissioner(s) of Income Tax.
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The Chief Commissioner of Income Tax, Chandigarh have issued Order of Jurisdiction for Commissioner(s) of Income Tax and Ranges of North West Region.
Draft Citizen's Charter 2010
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The process of drafting a new Vision document - Vision 2020 is nearing completion. An important component of the Vision 2020 document is the Citizen's Charter 2010. As a part of Vision 2020, the Citizen's Charter 2007 was revisited by a Working Group constituted by the CBDT.
CBDT released revised discussion paper on the Draft Direct Taxes Code
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The draft DTC along with the Discussion Paper was released in August, 2009 for public comments. The response from various stakeholders has been overwhelming and a number of valuable inputs have been received.
CBDT has released the revised Discussion Paper on the draft Direct Taxes Code (DTC), which is being placed in the public domain to seek responses on the modified proposals. The major issues which have been addressed relate to Minimum Alternate Tax (MAT) on gross assets, tax treatment of savings - Exempt Exempt Tax (EET) vis-a-vis Exempt Exempt Exempt (EEE) basis, status of Double Tax Avoidance Agreements vis-a-vis the domestic law, the administration of the General Anti-avoidance Rule (GAAR), taxation of income from house property on a presumptive basis, tax treatment of capital gains and tax treatment of non-profit organizations, etc.
The response on the revised Discussion Paper may be submitted electronically on the website 'http://finmin.nic.in' or may be sent to e-mail address 'directtaxescode-rev@nic.in' on or before 30th June, 2010.
Speech of the Finance Minister at the 26th Annual Conference.
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Shri Pranab Mukherjee, Honorable Finance Minister delivered speech at the Inauguration of the 26th Annual Conference of Chief Commissioners / Directors General of Income Tax at New Delhi.
Notification about Amendments in TDS.
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The Central Board of Direct Taxes notifies the new Amendments in the TDS Rules.
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