It may be noted that dual non-taxation of any distribution made by the business trust i.e. which is exempt in the hands of the business trust as well as the unit holder, is not the intent of the special taxation regime applicable to business trusts.
Exemption to news agencies under clause (22B) of section 10 of Income Tax Act is proposed to be withdrawn from assessment year 2024-25
Sums on which tax is required to be deducted under section 194LBA of Income Tax Act shall be eligible for certificate for TDS deduction at lower or nil rate
Budget 2023 amends section 9(1)(viii) of Income Tax Act to extend deeming provision to sum of money exceeding fifty thousand rupees, received by a not ordinarily resident, without consideration from a person resident in India.
Explore the Union Budget 2023–24 presented by Smt. Nirmala Sitharaman, aiding the macroeconomy & increasing citizens’ opportunities. Unleash Budget 2023 updates for the agrarian sector.
With the Union Budget 2023, the Finance Minister, Nirmala Sitharaman, revised the presumptive taxation, amendment to section 194N and more – learn about the key highlights & takeaways.
Learn about how GST law & IBC law interact and their implications on property of a taxable person. Explore the Section 82 of CGST act, CIRP & IBC to understand more.
We all know that staying upbeat in business is uncommon. Not many can achieve this. Checking and cross-checking others is not the key. The acceptance of the organization by the rest of the world largely depends on its attaining core values such as impeccable quality, complete and timely delivery, a great relationship, best service performance, stakeholder happiness, and many more.
Section 87A rebate increased from the current Rs. 5 Lakhs to Rs. 7 Lakhs in the New tax regime. Currently, those with income up to 5 lakhs do not pay any income tax in both old and new tax regimes. The budget proposes to increase the rebate limit to 7 lakhs in the new tax regime. Thus, persons in the new tax regime, with income up to 7 lakhs will not have to pay any tax.
Make changes to the GST vide Budget 2023 with Sec.10 of CGST Act offering relief to suppliers of goods via e-commerce operators. Pay dues within 180 Days as per Sec.16 of CGST Act with Sec.17(3) of CGST eliminating value of exempt supplies.
