The Income-tax Department is committed to improving taxpayer services and redressing grievances in a timely manner. The status of outstanding refunds was reviewed recently. Following the review, Central Board of Direct Taxes has issued directions to its field formations to expedite the issue of pending refunds below Rs. 50,000/ for assessment years 2013-14 and 2014-15…
DetailsChennai and a large part of Tamil Nadu have received unprecedented rainfall leading to flooding of large areas and disruption of normal life, including business and commerce. Given the extent of disruption, it is considered expedient in public interest to extend the due date for deposit of tax deducted at source and tax collected at…
DetailsSome sections of the media have reported that Government will directly intervene to monetize the gold held by charitable, religious and other institutions. It is clarified that this is complete misinformation. The Gold Monetization Scheme is entirely voluntary and it is for individuals, institutions and others to take their own decision to monetize the gold…
DetailsThe Reserve Bank of India (RBI) has cancelled the certificate of registration of the 56 (fifty six) non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration certificate, these companies cannot transact the business of a…
DetailsIn view of the severe floods in the State of Tamil Nadu, Department of Financial Services had issued the following guidelines to be followed by Banks and other Financial Institutions.It is imperative that all steps be taken to extend every possible facilitation to the affected people who are insured persons/nominees and may have been injured/lost…
DetailsEmployer’s Attestation no Longer Necessary for Filing PF Claims Employees’ Provident Fund Organisation (EPFO) has launched simplified brief forms for withdrawal. These forms are one page forms requiring only five to six types of information to be submitted. These forms are applicable to those employees who have completed their Form-11 (New) details and the employer…
DetailsEMPLOYEES’ PROVIDENT FUND ORGANISATION Ministry of Labour & Employment, Govt. of India No.14, Bhavishya Nidhi Bhavan, Bhikazji Cama Place, New Delhi 110 066 No. WSU/10(1)2011/Changes in MAP/31406 Date: 01-Dec-2015 ORDER In Exercise of powers conferred under para 78 of Employees’ Provident Funds Scheme 1952, the Central Govt. has directed the following: “a. The employees…
DetailsF.No.: DGIT(S)/CPC(TDS)/DCIT/15GH /2015-16 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 4 /2015 New Delhi, 1st of December 2015 Subject: Simplification of procedure for Form No.15G & 15H — regarding Section 197A of the Income tax Act provides for no deduction in certain case by…
DetailsBased upon credible information of tax evasion and large scale financial irregularities committed by a group based at Chennai and Tiruchirappalli, the Investigation Wing of the Income Tax Department at Chennai has been conducting investigation. As part of such investigation, searches under section 132 and surveys under section 133A of the Income-tax Act, 1961 are…
Details7 December 2015 – Due date for deposit of Tax deducted/collected for the month of November, 2015. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan 7 December 2015 –…
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