Income Tax Update - 2012

[Click here to view list of notifications / circulars of 2013]

• No TDS in certain cases - Specified payment under section 197A(1f) [No.56]
• Search & Seizure - Assessment of preceding years in search cases during election period [Circular No.10]
• The Post Office Savings Account (Amendment) Rules, 2012 [GSR 926(E)]
• FAQs for Qualified Foreign Investors
• DTAA - Notified 'Specified Territory' [No.54]
• Rajiv Gandhi Equity Savings Scheme, 2012 - Corrigendum [No.53]
• The Income-tax (15th Amendment) Rules, 2012 [No.52]
• The Rajiv Gandhi Equity Savings Scheme, 2012 [No.51]
• Specified companies authorised to issue Tax-Free, Secured, Redeemable, Non-Convertible Bonds during F.Y. 2012-13 [No.46]
• Extension of time limit for filing of ITR-V forms for A.Y. 2010-11 and A.Y. 2011-12
• The Capital Gains Accounts (First Amendment) Scheme, 2012 [No.44]
• Deduction of Tax at Source on Payment of Gas Transportation Charges by the Purchaser of Natural Gas to the Seller of Gas [Circular No.9]
• The Income-tax (14th Amendment) Rules, 2012 [No.42]
• TDS on Salaries [Circular No.8]
• Monitoring of filing of appeal in the High Courts - Non-receipt of quarterly reports as per the CBDT Instruction No. 7 of 2011
• Improving quality of scrutiny assessments - Central Action Plan ('CAP') for Financial Year 2012-13
• Report in respect of cases involving COD (Committee on Disputes) clearance requisitioned vide letter no. [F-279/M-30A/2011-ITJ] due to be received since 31-12-2011
• The Income-tax (13th Amendment) Rules, 2012 [No.40]
• The Income-tax (12th Amendment) Rules, 2012 - Certificate of Residence [No.39]
• Approval of loan agreements/ long term infrastructure bonds and rate of interest for the purpose of Section 194LC of the Income-tax Act, 1961 [Circular No.7]
• Cost of Inflation Index notified [No.38]
• Certificate to be issued by CA on ITR -- The Income-tax (11th Amendment) Rules, 2012 [No.37]
• "Demand Management Fortnight"
• Advance Pricing Agreement Scheme -- The Income-tax (10th Amendment) Rules, 2012 [No.36]
• Double Taxation Agreement - Multilateral convention on mutual administrative assistance on tax matters with OECD member countries [No.35]
• The Income-tax (Ninth Amendment) Rules, 2012 [No.34]
• The Income-tax (Dispute Resolution Panel) (First Amendment) Rules, 2012 [No.33]
• Section 92 of the Income-tax Act, 1961 - Transfer pricing - Computation of Arm's length price - Notified percentage under second proviso to section 92C(2) [No.31]
• DTAA with Guernsey [No.30]
• Relaxation from compulsory e-filing of return of income for assessment year 2012-13 - for representative assessees of non-residents and in the case of private discretionary trusts [Circular No.6]
• Inadmissibility of expenses incurred in providing freebees to Medical Practitioner by pharmaceutical and allied health sector Industry [Circular No.5]
• Relaxation from compulsory e-filing of return of income for assessment year 2012-13 [Press Release]
• Extension of Due Date for filing returns [Order]
• The Income-tax (8th Amendment) Rules, 2012 [No.29]
• Verification Certificate under provisions of Rules 114(4) of IT Rules, 1962 of PAN (Individual / HUF)
• Guidelines for engagement of Standing Counsels to represent the Income-tax Department before High Courts and other judicial forums; revision of their Schedule of fees and related matters [Instruction No.3]
• Verification of high value transactions (investments/deposits/expenditure) of persons who are not assessed to income tax [Press Release]
• Section 90 of the Income-tax Act, 1961 - Double taxation Agreement - Agreement for Exchange of information with respect to taxes with Jersey [No.26]
• The Income-tax (7th Amendment) Rules, 2012 [No.25]
• Order under Section 119 of the Income Tax Act, 1961
• Authorization of AOs in certain cases to rectify/reconcile disputed arrear demand [Circular No.4]
• DTAA with Norway [No.24]
• No TDS on specifed payments for acquisition of software [No.21]
• Supplementary Memorandum Explaining the Official Amendments Moved in the Finance Bill, 2012 AS REFLECTED IN THE FINANCE ACT, 2012 [Circular No.3]
• Agreement for avoidance of Double Taxation and Prevention of Fiscal Evasion with Foreign countries - Japan - Amendment in Notification No. GSR 101(E), dated 1-3-1990 [No.19]
• Income-tax (sixth Amendment) Rules, 2012 - Insertion of rule 10AB [No.18]
• Explanatory notes to the provisions of the Finance Act, 2011 [Circular No.2]
• Guidelines for Engagement of Standing Counsels to represent the Income-Tax Department before High Courts and other Judicial Forums
• Section 80-IA of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial infrastructure undertakings, etc. - Notified undertakings [No.17]
• The Income-tax (5th Amendment) Rules, 2012 - Insertion of rule 2F [No.16]
• Issuance of TDS Certificates in Form No. 16A downloaded from TIN website [Circular No.1]
• Public Provident Fund Scheme, 1968 (PPF, 1968) and Senior Citizens Savings Scheme, 2004 (SCSS, 2004) - Revision of interest rates [Circular]
• Income-tax (Fourth Amendment Rules, 2012 – Depreciation restricted to 15% on wind mills installed after 31-3-2012 [No.15]
• The Income-tax (3rd Amendment) Rules, 2012 [No.14]
• Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13 [No.9]
• Notified bonds/debentures of Public Sector Companies [No.7]
• Notified bonds/debentures of Public Sector Companies [No.6]
• The Income-tax (2nd Amendment) Rules, 2012 [No.5]
• Signing of Convention on Mutual Administrative Assistance in tax matters as amended by the 2010 Protocol by India
• DTAA with Georgia [No.4]
• Direction that the provisions of the Income-tax Act relating to processing of returns shall or shall not apply with such exceptions, modifications and adaptations as provided in the Centralised Processing of Returns Scheme, 2011 [No.3]
• The Centralised Processing of Returns Scheme, 2011 [No.2]
• The Income-tax (First Amendment) Rules, 2012 [No.1]

[Click here to view list of notifications / circulars of 2011]

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