INCOME TAX MATTERS ( A monthly journal on - Income tax and wealth tax- since 1999) - ( subscription for the year 2010 (TWO VOLUMES) is only Rs. 1600/-) - For subcription and to Know more click here

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Notifications, circulars, press releases, etc. relating to Income tax issued during the year 2009

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Gift-in-kind is taxable w e f  1-10-2009, value of which exceeds Rupees Fifty Thousand
Press Release No. 402/92/2006-MC (21 of 2009), dated 30-9-2009 - For full text click here

 

Extension of Time Limit for Filing Itr-V Form - Press Release, Dated, 13-8-2009

 

Cost Inflation Index for the purpose of computing Long Term Capital Gain

New Changes for efiling of Income-tax Return for AY 2009-10 - Press release dated 3-6-2009 - For full text click here

 

NEW RETURN FORMS FOR ASSESSMENT YEAR 2009-10 – MATTERS CONNECTED THERETO - CIRCULAR NO. 03 / 2009, DATED 21-5-2009

For full text click here

 

New TDS and TCS payment and information reporting system - Notification No. 858(E), dated 25th March, 2009 published in Official Gazette Circulars No. 02/2009, dated 21-5-2009

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INCOME-TAX (EIGHT AMENDMENT) RULES, 2009 - AMENDMENT IN RULES 24Q AND 26Q; SUBSTITUTION OF RULES 30, 31, 31A, 31AA, 37CA, 37D AND FORMS 16, 16A, 16AA, 27D, 27Q AND 27EQ; INSERTION OF FORM 24C; OMISSION OF RULE 37A –
NOTIFICATION NO. 31/2009[F.NO.142/22/2008-TPL]/S.O.858(E), DATED 25-3-2009--For full text click here

 

 

10. Income-tax (Fourth Amendment) Rules, 2009 - Amendment in rule 37A regarding time limit for filing of TDS statements in form 27Q in case of non residents - NOTIFICATION NO. 11/2009 [F. NO. 142/01/2008-TPL], DATED 21-1-2009 - For full text click here

 

9. Income-tax (Third Amendment) Rules, 2009 - Amendment in New Appendix 1 - NOTIFICATION NO. 10/2009, DATED 19-1-2009 - 50% depreciation allowed on New commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of April, 2009 and is put to use before the 1st day of April, 2009 for the purposes of business or profession - For full text click here

 

8. Centre for Policy Research, New Delhi approved for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 - NOTIFICATION NO. 6/2009, DATED 7-1-2009 - For full text click here

 

 

7. Double Taxation Avoidance Agreement with the Council of Ministers of Serbia and Montenegro u/s 90 of the Income-tax Act, 1961- - Notification No. 5/2009 [F.No. 503/1/797-FTD-1]/S.O. 97(E), Dated 7-1-2009 - For full text click here

6. Issue of tax free bonds by India Infrastructure Finance Company Limited specified for the purposes of Section 10(15)(iv) of the Income-tax Act, 1961 NOTIFICATION NO. 9/2009 [S.O. 99(E)], DATED 7-1-2009 - For full text click here

5. Aeronautical Development Agency, DRDO Bhawan, New Delhi has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5D of the Income-tax Rules, 1962 (said Rules) with effect from 1-4-2006 in the category of "scientific research association' subject to the certain conditions. - NOTIFICATION NO. 8/2009, DATED 7-1-2009 - For full text click here

 

 

4. Centre for Liquid Crystal Research, Bangalore, has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5D of the Income-tax Rules, 1962 (said Rules) with effect from 1-4-2005 in the category of 'scientific research association' subject to the certain conditions. - NOTIFICATION NO. 7/2009, DATED 7-1-2009 - For full text click here

 

 

3. Deduction in respect of subscription to National Housing Bank Term Deposit Scheme notified for the purposes of Section 80C(2)(xv) of the Income-tax Act, 1961 - NOTIFICATION NO. 3/2009 [S.O. 21(E),], DATED 5-1-2009 - For full text click here

2. Income-tax (Second Amendment) Rules, 2009 - Amendments in rule 5D and 5E - NOTIFICATION NO. 2/2009, DATED 5-1-2009 - For full text click here

 

 

 

1. INCOME-TAX (FIRST AMENDMENT) RULES, 2009 -  NOTIFICATION NO. 1/2009, DATED 5-1-2009 - Insertion OF RULE 40E - Prescribed conditions for the purposes of section 115WB (2) (B) (iii) - relating to non-transferable pre-paid electronic meal card - For full text click here