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Budget 2010

Latest Articles


Union Budget Preview 2011-12

Income Tax : The Union Budget 2011-12 will revolve around fiscal consolidation, inflation control, administrative checks and inclusive growth. ...

February 25, 2011 1211 Views 0 comment Print

Budget 2010 on Goods and Service Tax

Goods and Services Tax : 1st April 2011 is proposed as new date for its implementation. He recognized several developments in the field of computerization,...

June 6, 2010 466 Views 0 comment Print

Budget 2010- Provisions regarding issuance of Certificate for TDS/TCS by the deductor/collector (Section 203 & Section 206C)

Income Tax : The existing provisions contained in subsection 3 of Section 203 states that there is no requirement to issue a certificate by the...

May 31, 2010 381 Views 0 comment Print

Analysis of Budget Amendment related to disallowance of expenses for late payment of TDS- Section 40(a)(ia)

Income Tax : As per existing provision, in case of TDS deducted as per Chapter XVII-B but the payment of the same not deposited with the Govern...

May 31, 2010 742 Views 0 comment Print

Changes in provisions related to Computation of profits in the case of units in SEZ – S. 10 AA (7)

Income Tax : Section 10AA was inserted in the Income-tax Act, 1961 (“the Act”) by the Special Economic Zones Act, 2005 (“the SEZ Act”) ...

May 26, 2010 1138 Views 0 comment Print


Latest News


ICAI suggests inclusion of Relatives of HUF in Definition of term relative U/s. 56(2)(vii)

Income Tax : Under the existing provisions of section 56(2)(vii), any sum or property received by an individual or HUF for inadequate considera...

January 14, 2018 3066 Views 0 comment Print

Reference to Valuation Officer U/s. 55A – ICAI suggests reasonable tolerance limit to reduce litigation

Income Tax : This section empowers the assessing officer to refer the matter to the valuation officer for the purposes of ascertaining the fair...

January 14, 2018 1029 Views 1 comment Print

Capital gain on transfer of residential property -Section 54GB- ICAI Suggestions

Income Tax : The Finance Act, 2012 had inserted a new section 54GB to exemptlong-term capital gains on transfer of a residential property, bein...

January 14, 2018 2529 Views 0 comment Print

Exemption u/s 54 not to be denied due to delay in completion of project beyond control of assessee

Income Tax : With difficulties being faced by the Real Estate Sector business (due to delay in clearances, nonavailability of finance and a slu...

January 14, 2018 1026 Views 0 comment Print

Budget 2011- FM to present Budget on Feb 28; Industry and tax-payers hopeful

Income Tax : Finance Minister Pranab Mukherjee is set to present his sixth national budget Monday, with people hoping for measures that will he...

February 27, 2011 10358 Views 0 comment Print


Latest Notifications


Finance Bill, 2010 – Notice of Amendments – Bill passed by Lok Sabha on 29-4-2010

Income Tax : on or after the 1st day of April, 2010, where the specified business is in the nature of developing and building a housing project...

April 29, 2010 510 Views 0 comment Print

Custom duty notifications dated 27.02.2010 related to Union budget 2010-11 amendments and provisions

Custom Duty : All the Custom duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provis...

February 28, 2010 2607 Views 0 comment Print


Latest Posts in Budget 2010

ICAI suggests inclusion of Relatives of HUF in Definition of term relative U/s. 56(2)(vii)

January 14, 2018 3066 Views 0 comment Print

Under the existing provisions of section 56(2)(vii), any sum or property received by an individual or HUF for inadequate consideration or without consideration is deemed as income and is taxed under the head Income from other sources.

Reference to Valuation Officer U/s. 55A – ICAI suggests reasonable tolerance limit to reduce litigation

January 14, 2018 1029 Views 1 comment Print

This section empowers the assessing officer to refer the matter to the valuation officer for the purposes of ascertaining the fair market value of the capital asset.

Capital gain on transfer of residential property -Section 54GB- ICAI Suggestions

January 14, 2018 2529 Views 0 comment Print

The Finance Act, 2012 had inserted a new section 54GB to exemptlong-term capital gains on transfer of a residential property, being a house or a plot of land, owned by an individual or HUF, if the net consideration on sale of property

Exemption u/s 54 not to be denied due to delay in completion of project beyond control of assessee

January 14, 2018 1026 Views 0 comment Print

With difficulties being faced by the Real Estate Sector business (due to delay in clearances, nonavailability of finance and a sluggish demand) numerous projects are delayed in execution. As a result, an assessee who has sold a house and invested in another flat which is under construction by a builder /developer

Budget 2011- FM to present Budget on Feb 28; Industry and tax-payers hopeful

February 27, 2011 10358 Views 0 comment Print

Finance Minister Pranab Mukherjee is set to present his sixth national budget Monday, with people hoping for measures that will help them brave high prices and industry expecting steps that would spur demand and reduce tax burden .

Union Budget may not tinker too much with duty rates -CARE

February 27, 2011 7281 Views 0 comment Print

No increase in passenger fares and freight rates in the Railway budget presented on Friday, might be seen as an expectation of no significant increase in excise duties in the coming Union Budget on Monday. CARE Ratings on Friday said it expects no significant increase in excise duties in the coming Union Budget.

Union Budget Preview 2011-12

February 25, 2011 1211 Views 0 comment Print

The Union Budget 2011-12 will revolve around fiscal consolidation, inflation control, administrative checks and inclusive growth. We do not anticipate any major roll-back of stimulus (indirect taxes) since some concerns lurk about pace of economic growth in 2011.

Finance Minister to meet Congress leaders on budget tomorrow

February 15, 2011 315 Views 0 comment Print

Ahead of the budget session beginning next week, Finance Minister Pranab Mukherjee will hold consultations with senior party leaders tomorrow at the AICC headquarters in New Delhi. With Assembly elections scheduled in five states including West Benga

FM Meets Film Industry Delegation as Part of Pre-Budget Consultations

February 6, 2011 219 Views 0 comment Print

Union Finance Minister Shri Pranab Mukherjee met here today the film industry delegation who were accompanying the Minister of Information and Broadcasting Ms. Ambika Soni as part of his pre-Budget consultations. The delegation consisted of about 20

Govt announce dates for Budget 2011-12 and budget session

February 2, 2011 425 Views 0 comment Print

The budget session of Parliament will begin on Feb 21 and the general budget is slated to be presented to Lok Sabha on Feb 28. The decision to recommend the date for convening of the session to the President was taken at a meeting of the Cabinet Co

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