Income Tax articles

Budget 2018: Impact Analysis of Country by Country Reporting

It was proposed in Finance Act 2016. It is a part of three-tiered transfer pricing documentation structure which must be maintained and produced before the income-tax authorities along with a master file (contains standardized information relevant for all Multinational enterprise group members) and a local file (refers specifically to mat...

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Posted Under: Income Tax |

Union Budget 2018: Streamlining Business Connection in accordance with BEPS Action Plan

It has been widely reported that multinational corporations resort to base erosion and profit sharing (BEPS) techniques to shift their profit to tax havens or nations with lower tax incidence. ...

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Posted Under: Income Tax |

Direct Tax changes proposed in the Union Budget, 2018

Author discusses Major Direct Tax changes proposed in the Union Budget, 2018 in thre parts 1. Amendments having Financial Implication 2. Amendments making changes in compliance procedures and Amendments having making changes in departmental procedure....

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Posted Under: Income Tax |

Bias against assesses or manufacture – LTCG in budget 2018 & the premature FAQ

One important bone of contention is the long term capital gains tax on the equities and equity based mutual funds. What was in the budget speech and what was in the amendment are completely two different matters....

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Posted Under: Income Tax |

Section 112A LTCG ON Equity Share Or Units Of Equity Oriented Mutual Fund Or Units Of Business Trust FROM 01.04.2018

Hello friends as we all know that the finance bill 2018 has introduced a new section 112A for the taxability of long term capital gain arising on the transfer of equity share or units of equity oriented mutual fund or units of business trust....

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Budget 2018: Double Clampdown, Is It Fair?

In the Budget 2018, the Finance Minister has Re-Introduced taxability of Long Term Capital Gain on equities shares and equity oriented mutual fund (herein after referred as LTCGE) @ 10%. This proposal has raised many questions, some people are even calling this move as double taxation. Government named its move as rationalization of LTCGE...

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Posted Under: Income Tax |

LTCG as per Finance Bill 2018

Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act....

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Posted Under: Income Tax |

Taxability of Long Term Capital Gain on Listed Equity Shares, Units of Mutual Fund (Proposed Provision of Union Budget 2018 )

As per the present provision of Section 10(38) of Income Tax Act, the Long Term Capital Gains arising on transfer of Equity Shares or Units of Equity Oriented Funds or units of business trusts are exempt....

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Posted Under: Income Tax |

Budget 2018 – Goodies to allure corporate sector

Budget 2018 could have led to a recent stock market rally of the investors to protect tax on long term capital gains, albeit it is benevolent foremost to the rural agrarian sector, followed by corporate sector with 25% corporate tax rate for financial year 2018-19 (applicable to the domestic companies having annual turnover below Rs. 250 ...

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Posted Under: Income Tax |

Views on reintroduced tax on long-term capital gains and issues arising therefrom

Many months before the presentation of the Union Budget 2018 on 1 February 2018, newspaper reports had predicted the possibility of re-introduction of tax on long-term capital gains arising from transfer of listed equity shares / units of equity oriented mutual funds / units of business trust (specified assets)....

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Posted Under: Income Tax |
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