The CBDT has notified a further extension in the due date for filing of Quarterly Return of Payment of Interest to Residents without deduction of TDS to 31 January, 2006. This is for the quarters ending 30 June, 2005 and 30 September, 2005.
Entries Tagged 'direct tax' ↓
Further Extension in Due Date for Filing Quarterly Return of Payment of Interest
December 30th, 2005 — direct tax
Instruments / Schemes Notified for the purposes of Section 80C of the Income Tax Act, 1961
November 9th, 2005 — direct tax
The Central Government has vide notifications 222/2005 to 225/2005 and 227/2005 notified the following instruments / schemes as being eligible for section 80C from the Assesment Years 2006-07.
- Provident Fund established under the Public Provident Fund Scheme, 1968
- National Savings Certificates (VIII Issue)
- ULIP [Dhanraksha 1989] issued by the LIC MF
- Specific Schemes of the LIC [ New Jeevan Dhara, New Jeevan Dhara-I and New Jeevan Akshay, New Jeevan Akshay-I and New Jeevan Akshay-II Plans]
- UTI Retirement Benefit Pension Plan
Note that this does not per se cover the ELSS [Equity Linked Saving Schemes] of other Mutual Funds. A clarification on this is awaited.
The CDBT has also issued a separate notifcation 226/2005 ‘Equity Linked Saving Schemes, 2005’. I’ll be posting my comments these separately tommorrow.
All the Notifications are available on the CBDT website. Click here for quick reference.
technorati tag: Direct Taxation, Saving, Notification, Capital Market
Due Date for Tax Audit Report & Filing of Return Extended for J&K to 31 March, 2006
October 28th, 2005 — direct tax
The CDBT has, vide Circular No. 220/1/2005-IT,A-II, extended the due date for obtaining tax audit report u/s 44AB and for filing returns of incomes from 31st October, 2005 to 31st March, 2006 for the state of Jammu & Kashmir.
technorati tag: Direct Taxation, Finance
Income Tax Department to Accept Returns on 29th / 30th October 2005
October 27th, 2005 — direct tax
The CBDT, in exercise of its powers under section 119 of the Income Tax Act, 1956, all IT authorities have beendirected to make arrangements for accepting the returns of income on 29th and 30th October, 2005 (being Saturday & Sunday). The due date for filing of return of income within the meaning of Explanation 2(a) and (b) to Section 139(1) of the Income Tax Act, 1961 is 31st October, 2005.
technorati tag: Direct Taxation, Finance
IT Circular 8/2005 on Explanatory Notes on Provisions relating to FBT
August 31st, 2005 — direct tax
The following is a link to the Explanatory Notes on the provisions relating to Fringe Benefit Tax released by the CBDT vide Circular No. 8/2005.
In addition to some explanatory notes, this circular also has a list of 100+ FAQ’s on FBT.
Circular No. 8/2005 can be viewed here.
technorati tag: Taxation, Finance