1 March 2014 - Wealth18.com

Mar12014 by wealth18.comNo Comments

Last date for filing ITR-V extended for 3 AY till 31-March-2014

News, Taxation

CBDT Circular 04/2014 dated 10-Feb-2014 CBDT has extended the Last date for filing ITR-V for 2 assessment years AY 2009 - 2010, 2010 -2011, 2011-2012 for returns which were filed electronically & any refund was due. Please note that this extension is only for returns where REFUNDS were due. The taxpayer need to send a duly signed copy of ITR-V to the CPC by Speed Post. Normally, when the tax payer files his Income tax returns online without digital signature, he need to take the print it of ITR V acknowledgement, sign it & send it to IT CPC. So if you have filed return online and are waiting for your refund for last few years, just check whether your ITR V was received by CPC or not. if not, then you can send it again by Speed post. How to check if CPC has received your ITR V or ...

Rakesh Jhunjhunwala invests Rs 11 crore in HT media

Stocks

On 28-Feb-2014, Rakesh Jhunjhunwala's company Rare Enterprises bought 15 lakh shares in HT media for approx Rs 11 crore. He bought the shares at average price of Rs 71.25 . Following this , the shares of HT media spiked 8% and ended at Rs 77.50 During Dec 2013 quarter, HT Media had reported a Consolidated net sales of Rs 573 crore & consolidated net profit of Rs 67.02 crore Market cap - Rs 1817 crore The 52-week high of the share was Rs 123.70 and the 52-week low was Rs 69.50. The company's trailing 12-month (TTM) EPS was at Rs 0.94 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 82.45. See Portfolio Holding of Rakesh JhunJhunwala

Section 87A Tax rebate / Tax credit of Rs 2000

Featured, Taxation

In Budget 2013, a new Section 87A was introduced under Income tax Act to allow for tax credit / rebate of Rs 2000 to taxpayers whose taxable income is upto Rs 5 lakhs. Persons whose taxable income is upto Rs 5 lakhs will get a tax credit / tax rebate of Rs 2000 under Section 87A of Income Tax Act 1961. As per new section 87A, “An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his / her total income with which he/she is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less.” Key features This tax re...