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....
Section 139(5) – Reduction in time limit for filing revised return – Retention of existing time limit for filing of revised tax return at least in cases of claim of foreign tax credit
The Union Budget for 2017-18 has shown the Government’s intent not only to create new work opportunities but to help the enterprising with limited means to set up their small ventures and stand up on their own.
Section 155(14A) proposes to provide that where the payment of foreign tax is under dispute credit of such taxes will be available in India in the year in which the dispute is settled, on satisfaction of certain conditions. To give effect to this an enabling provision shall be inserted through which Tax Authority
In order to ensure that the person furnishing report or certificate undertakes due diligence before making such certification, new section 271J is proposed to be inserted so as to provide that if an accountant or a merchant banker or a registered valuer
Article deals with proposed amendment in Section 2(hf), section 47(xb) and section 49(2AE) related to Tax neutral conversion of preference shares to equity shares and sought Clarification regarding tax treatment for earlier years
The Finance Act, 2012 amended Section 9(1)(i) of the Act with retrospective effect from 1st April 1962 to provide that any share or interest in an entity incorporated outside India shall be deemed to be situated in India if such share or interest derives, directly or indirectly, its value substantially from assets located in India.
The proposed introduction of section 115BBG providing for a 10 percent tax on income from transfer of carbon credits is a welcome move. This would go a long way in helping to resolve the uncertainty and litigation over the taxability of income from the transfer of carbon credits going forward.
The Finance Act, 2016 had inserted new Section 115BBDA to tax dividend income in excess of Rs. 10 lacs in case of an Individual, HUF and Firm at the rate of 10%.
The Finance Bill, 2017 proposes to amend section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act
An issue arises as to whether the proposed amendment intends to take out sale of jewellery completely from TCS levy or intends to retain the TCS levy on jewellery but with lower threshold of Rs. 2 lakhs.
