The Reader

INCOME TAX

1. 01-04-2009 - Advance Tax Limit Increased to 10000 from 5000.

2. Wealth Tax Limit Increased: The recommended amendment will apply for the value of net wealth as on 31st March, 2010 and will apply in relation to assessment year 2010-11.

3. 01.04.2011 - Amendment to Section 44AA – Maintenance of Accounts

4. 01.04.2011 - Amendment to Section 44AB – Audit of Accounts

5. 01.04.2011 - Section 44AD Substituted – Presumptive Income

6. 01.04.2011 - Amendment to Section 44AE – Income from goods Transport.

7. 01.10.2009 - Amendment to Section 50C – Value of Capital asset transferred

8. 01.10.2009 - Amendment to Section 56 – Transactions without consideration of more than Rs. 50,000/-

9. 01.04.2003 - Amendment to Section 80A – Deductions

10. 01.10.2009 - Amendment to Section 80G – Charitable Institutions

11. 01.04.2008 - Amendment to Section 80IA – Power Generation

12. 01.04.2000 - Section 80IB – Tax Holiday

13. 01.10.2009 - Section 90 Substituted – DTAA –

14. 01.10.2009 - Amendment to Section 92C – Transfer Pricing – Arm's Length Price

15. 01.04.1998 - Amendment to Section 115JA – Deemed Income

16. 01.04.2001 - Amendment to Section 115JB

17. 01.10.2009 - Amendment to Section 131 – Discovery, Inspection etc – “Dispute Resolution Panel” included

18. 01.06.1994 - Amendment to Section 132 – Search and Seizure – Additional Commissioner Empowered

19. 01.10.2009 - Amendment to Section 139A – PAN – “Quarterly” removed

20. 01.04.1989 - Amendment to Section 147 – Reassessment – Scope enhanced

21. 01.10.2009 - Section 194C Substituted – TDS – Payment to Contractors

22. 01.10.2009 - Amendment to Section 194I – TDS – Rent

23. 01.10.2009 - Amendment to Section 200 – Quarterly Returns gone – Periodicity to be prescribed

24. 01.10.2009 - Amendment to Section 201 – TDS failure

25. 01.10.2009 - Amendment to Section 203A – Quarterly Statement is no more quarterly

26. 01.10.2009 - Amendment to Section 206A & 206C – Quarterly to unspecified period

27. 01.10.2009 - Amendment to Section 246A – Dispute Resolution Panel

28. 01.10.2009 - Amendment to Section 253 – Appeal to ITAT – Dispute Resolution Panel

29. 01.06.2007 - Amendment to Section 271 – Concealment of Income

30. 01.04.1988 - Amendment to Section 271B – Provisional Attachment

31. 01.10.2009 - Substitution of Section 282 – Service of Notice – Courier and Email recognized

32. 01.10.2010 - New Section 282B – Allotment of Document Identification Number

33. 01.10.2009 - New Section 293C – Power to Withdraw approval