What is ITR-V, Time Limit, where to submit and what if not submitted within time

What is ITR-V, Time Limit, where to submit and what if not submitted within time Posted: 15 Feb 2012 07:14 PM PST What is an ITR-V? ITR-V stands for 'Income Tax Return – Verification' form. This form is received when you e-file without using a digital signature. Income Tax Department needs to verify the authenticity of income tax return when filed... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Is it mandatory for me to file an Income Tax Return if I have a PAN? Posted: 15 Feb 2012 06:55 PM PST You need to file an Income Tax Return if your Total Taxable Income exceeds the basic exemption limit before taking into account deductions, i.e., tax saving investments. The basic exemption limit for financial year 2011-2012 and 2010-2011 is as... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Auto-fill Form No. 49A in Excel for PAN Application Posted: 15 Feb 2012 06:36 PM PST The file has a built in auto fill form facility . The user is required to fill the pop up data forms and PAN Form 49A in excel shall be updated automatically. The template has the facility for (a) AO Details (b) warning if CAP Lock is turned off (c)... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Budget 2012- CBDT committee suggests standard deduction of Rs 50 thousand for salaried employees Posted: 15 Feb 2012 06:15 PM PST The members of the Committee representing different fields made various suggestions to improve tax administration, better taxpayer services and impetus to the economy. The suggestions among others include to extend the Section 80CCF of Income tax... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Company Secretaries June, 2012 Examination -Applicability of the latest Finance Act and other changes Posted: 15 Feb 2012 04:19 PM PST All students may note that for the June 2012 Examination Session in respect of Direct Taxes the applicable Assessment Year shall be 2012-13 (Previous Year 2011-12). Thus, they will have to study Finance Act, 2011 for June 2012 Examination. Further... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CAG extends last date for empanelment application and submission of documents Posted: 15 Feb 2012 02:31 PM PST OFFICE OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA. Last date extended upto 29th Februrary 2012. The last date for submission of documents is 31 March 2012. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Consideration received by Assessee for software not royalty Posted: 15 Feb 2012 09:06 AM PST DDIT Vs. Solid Works Corporation (ITAT Mumbai) - The ruling of the AAR in the case of Dassault (supra) was approved by the Hon'ble Delhi High Court in the case of DIT Vs. Ericsson AB,New Delhi (supra). It can therefore be said that the Hon'ble... [[ This is a content summary only. Visit www.taxguru.in for full article.]] How To Complain Against Corruption Posted: 15 Feb 2012 08:26 AM PST The Government of India has authorized the Central Vigilance Commission (CVC) as the Designated Agency to receive written complaints for disclosure on any allegation of corruption or misuse of office and recommend appropriate action under the Public... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Investor Grievance Redressal Mechanism at Stock Exchanges – Circular No. CIR/MIRSD/2/2012 – Dated – February 15, 2012 Posted: 14 Feb 2012 07:23 PM PST With a view to increase investor confidence in the securities market and in order to make it more convenient to the investors to file their grievances and arbitration cases near to their places, SEBI has initiated steps to set-up this facility by... [[ This is a content summary only. Visit www.taxguru.in for full article.]] FEMA – Clarification – Purchase of Immovable Property in India – Reporting requirement Posted: 14 Feb 2012 07:19 PM PST when a person resident outside India, who has established in India in accordance with the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000, a branch, office or other place of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Export of Goods and Services- Simplification and Revision of Softex Procedure Posted: 14 Feb 2012 07:15 PM PST As per the revised procedure, a software exporter, whose annual turnover is at least Rs. 1000 crore or who files at least 600 SOFTEX forms annually, will be eligible to submit a statement in excel format as per Annexure A, giving all particulars... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Minimum Export Price of Onions – DGT Notification No 96 (RE – 2010)/2009-2014 Posted: 14 Feb 2012 06:42 PM PST Minimum Export Price (MEP) of all varieties of onions excluding Bangalore Rose Onions and Krishnapuram Onions will be US$ 125 per Metric Ton F.O.B. It was US$ 150 per Metric Ton for general category onion as notified on 11.01.2012. For Bangalore... [[ This is a content summary only. Visit www.taxguru.in for full article.]]