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.

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.

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.

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.

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.

The Chief Commissioner of Income Tax, Chandigarh have issued Order of Jurisdiction for Commissioner(s) of Income Tax and Ranges of North West Region.

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.

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.

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.

The Central Board of Direct Taxes notifies the new Amendments in the TDS Rules.