Page-3 of Income Tax Department

E-file returns compulsory if income exceeds Rs 10 Lakhs

People with income of Rs 10 Lakhs per annum will have to file their tax returns electronically beginning 2011-12 Financial year. The CBDT (Central Board of Direct Taxes) has issued a notification making e-filing compulsory for assessment year 2012-13 onwards ..


Advance Pricing Agreement Scheme gets clearance of FM

Finance ministry approved the Advance Pricing Agreement (APA) scheme, related to transfer pricing regulations. The APA scheme, proposed in Budget 2012-13, is being considered as one of the major industry-friendly initiatives. The finance ministry’s green signal to the provisions devised ..



Current Affairs : July 17, 2011

World Bank probable to approve $1 Billion credit for NRLP   The Rural Development Ministry to sign agreement with World Bank for Soft Loan worth of $ 1 billion Objective of the Loan: To implement the National Rural Livelihoods Project ..