Income Tax : Govt. has come out with index table called Cost Inflation Index whose base year was fixed as 1-4-1981. In Finance Bill 2017 the Go...
Income Tax : Krishna, Government of India has taken a major step towards ensuring that people get their own house by introducing Pradhan Mantri...
Income Tax : Article discusses Union Budget 2017 provisions related to ELECTORAL BOND. It discusses if the same is a legal weapon to curb and m...
Income Tax : Central Government is putting all efforts to curb use of cash which is focused on un-accounted transactions. As we all know, not a...
Income Tax : Finance Act’2017 had made some major changes relating to Charitable and religious trusts. In this Article we have discussed five...
Income Tax : TAXGURU invites you to be a part of ‘BUDGET 2021 Knowledge Sharing Campaign‘. The campaign has been initiated with the...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : Download Union Finance Budget 2018 as presented by Finance Minister Arun Jaitley today in Lok Sabha AS INTRODUCED IN LOK SABHA ON ...
CA, CS, CMA : The Finance Bill, 2017 proposed an insertion of Section 271J in the Income-tax Act, 1961. Considering the undue hardships to be ca...
Finance : Lok Sabha Speaker congratulates the Prime Minister, Union Finance Minister, Members of Union Cabinet, Members of Lok Sabha and Off...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : CBDT has issued Explanatory Notes to the Provisions of the Finance Act, 2017 vide Circular No. 02/2018 dated 15.02.2018 clarifying...
Income Tax : Every person responsible for deduction of tax under section 194-IB shall furnish the certificate of deduction of tax at source in ...
Corporate Law : Central Government hereby appoints the 26th day of May, 2017 as the date on which the provisions of the PART XIV of Chapter VI of ...
Goods and Services Tax : The Acts and Rules, which are amended, vide budget 2017-18 in Maharashtra are as follows: 1. The Maharashtra Purchase Tax on Sugar...
Income Tax : CBDT notified that Section 269ST not applies to cash receipt from banking company, post office savings bank or co-operative bank....
Budget 2017- it is proposed to provide that expenditure in respect of which payment has been made by the assessee to a person referred to in under section 40A(2)(b) are to be excluded from the scope of section 92BA of the Act. Accordingly, it is also proposed to make a consequential amendment in section 40(A)(2)(b) of the Act.
Budget 2017-In order to reduce compliance burden in certain cases, it is proposed to amend section 206C, to exempt the following class of buyers such as the Central Government, a State Government, an embassy, a High Commission, legation, commission, consulate and the trade representation of a foreign State
Existing provision of section 10(12A)of the Income Tax Act, 1961 provides that payment from National Pension System (NPS) to a subscriber on closurer of his account or opting out shall be exempt up to 40% of total corpus at time of withdrawal .
Continuation of Lower Withholding Tax Rate of 5% on Foreign Currency Borrowings- It is proposed to continue the withholding tax rate of 5% on interest on foreign currency borrowings before 1 July 2020.
Welfare spending in India suffers from misallocation: as the pair of charts show, the districts with the most poor (in red on the left) are the ones that suffer from the greatest shortfall of funds (in red on the right) in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.
Against the backdrop of robust macro-economic stabiity, the year was marked by two major domestic policy developments, the passage of the Constitutional amendment, paving the way for implementing the transformational Goods and Services Tax (GST), and the action to demonetise the two highest denomination notes. The GST will create a common Indian market, improve tax […]
The Economic Survey 2016-17, which was presented today in parliament by the Finance Minister Shri.Arun Jaitly, examines whether the effects associated with the aid curse and the “natural resources curse” internationally are discernible in the context of the Indian States.
GDP growth in 2017-18 is projected at 6 ¾ to 7 ½ percent Post-demonetisation. Middle class to get affordable housing due to fall in Real Estate prices. Remonetisation to eliminate cash squeeze by April 2017.
It is proposed to insert an Explanation section 132 and 132A to declare that reason to believe or reason to suspect, as the case may be, shall not be disclosed to any person or any authority or Appellate Tribunal.
It is proposed to insert a new section 115BBG to provide that where the total income of the assessee includes any income from transfer of carbon credit, such income shall be taxable at the concessional rate of ten per cent ( plus applicable surcharge and cess) on the gross amount of such income.
