New 15G and 15H forms introduced for F.Y. 2013-14

Income Tax Dept. has changed 15G and 15H forms for non deduction of TDS from Bank Deposits and certain other deposits. From the F.Y 2013-14, new forms to be submitted to the deductor for non deduction of TDS. As earlier, these forms , 15G (for non senior citizens) and 15H (for senior citizens) to be submitted in duplicate alongwith copy of PAN Card.
Download and Print Form 15G
Download and Print Form 15H

INcome Tax Cadre Review and Restructure : Cabinet nod likely on 21st March 2013

Update : No cabinet meeting took place on 21.03.2013
It is learnt from ITEF sources that much awaited cadre review proposal, after clearance of Committee of Secretaries, now endorsed by Finance Minister on 12th March and submitted for cabinet approval. Next cabinet meeting is scheduled on 21st March and possibly it may be cleared on that very day.

Income Tax offices will remain open on 30 and 31st March

On account of holiday on 27th and 29th March 2013 and the current financial year is going to end on March, CBDT decided to keep offices open on saturday and sunday, the 30th and 31st March 2013 throughout the country to receive returns.
Click here to view the order

Cadre restructuring underway in CBDT, CBEC : Revenue Secy

NEW DELHI, MARCH 5:  

Cadre restructuring of CBDT and CBEC is underway, Revenue Secretary Sumit Bose has said.

This would lead to more commissioners to be deputed at appellate levels to deal with backlog of cases, Bose said at a post-budget meeting with FICCI members here today.

Source : Business Line

Income crossed Rs 5 lac ? efiling is mandatory.

Taxpayers with annual incomes exceeding Rs 5 lakh will be required to file their returns in the electronic form, a senior finance ministry official said today.
How to efile ? Click here to visit this video

The finance ministry is also making provisions for the e-filing of wealth tax returns.

“Income tax returns for the group above Rs 5 lakh will be e-filed. This is a move towards using technology so that the interface between the assessing officer and assessee is minimised,” revenue secretary Sumit Bose said at an industry event.

The government had last year introduced the system of e-filing of returns for assessees with an annual income of Rs 10 lakh and above.

Click here to efile your return