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Budget 2018

Latest Articles


Contributions to National Pension System (NPS) u/s 80CCD(1B)

Income Tax : As the Financial Year 2017-18 is nearing completion, individual tax payers are having hardly one month time to save tax. For indi...

December 31, 2019 65580 Views 11 comments Print

Is Levying Tax on Deemed Dividend u/s 2(22)(e), Results in Double Taxation??

Income Tax : The Finance Bill 2018, has proposed to cover deemed dividend u/s 2(22)(e) of Income Tax Act, also for levy of dividend distributio...

December 30, 2019 30492 Views 5 comments Print

How LTCG tax will affect mutual funds

Income Tax : The Union Budget of 2018-19 has changed the tax treatment of all equity and equity-oriented mutual funds. This change was by way o...

December 28, 2019 14412 Views 1 comment Print

Contradiction in Intention and Implementation After Amendments in section 11 of income tax act, 1961

Income Tax : This article brings out the contradiction over the intention and implementation of amendment in section 11 so as to bring the disa...

December 26, 2019 18282 Views 6 comments Print

Clarity on Mediclaim vs Medical Reimbursements

Income Tax : As we all are aware that Finance Act, 2018 brought major amendment in the field of Medical Reimbursement Allowance and Mediclaim. ...

December 24, 2019 7674 Views 3 comments Print


Latest News


ICAI submits 26 Post Budget suggestions related to Income Tax

Income Tax : POST-BUDGET MEMORANDUM – 2018 1. INTRODUCTION 1.0 The Council of the Institute of Chartered Accountants of India considers it a ...

July 26, 2018 2760 Views 1 comment Print

All about Budget Session 2018 of Parliament; Concluded on 6th April, 2018

Finance : Budget Session 2018 of Parliament concludes The Budget Session, 2018 of Parliament which commenced on Monday, 29th January, 2018 h...

April 6, 2018 1410 Views 0 comment Print

Standard deduction available on pension from former employer: CBDT

Income Tax : The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable...

April 5, 2018 19485 Views 6 comments Print

CBEC renamed central board of indirect taxes and customs (CBIC)

Custom Duty : With the enactment of the Finance Act, 2018, CBEC is renamed as the Central Board of Indirect Taxes and Customs (CBIC). The change...

April 1, 2018 6390 Views 0 comment Print

Lok Sabha passes Finance Bill 2018 with amendments (Download Bill)

Income Tax : The Lok Sabha on March 14, 2018  passed the Finance Bill 2018 after the Finance Minister Arun Jaitley moved as many as 21 amendm...

March 15, 2018 34347 Views 1 comment Print


Latest Notifications


Govt. notifies applicability of provisions of Part VI, X & XI of Chapter VIII of Finance Act, 2018

Corporate Law : In exercise of the powers conferred by sections 146, 178 and 191 of the Finance Act, 2018 (13 of 2018), the Central Government her...

March 8, 2019 885 Views 0 comment Print

Explanatory Notes to Provisions of Finance Act, 2018

Income Tax : CBDT releases Explanatory Notes to Provisions of Finance Act, 2018 vide Circular No. 8/2018 dated 26th of December, 2018 and expla...

December 26, 2018 15951 Views 0 comment Print

CBDT withdraws Transport allowance of Rs. 1,600 pm

Income Tax : CBDT has omitted provision related to exemption of transport allowance of Rs. 1,600 per month granted to an employee other than an...

April 6, 2018 19062 Views 0 comment Print

24 FAQs on Taxation of Long Term Capital Gain on Shares

Income Tax : Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several queries have been raised in different fora on vari...

February 4, 2018 47220 Views 7 comments Print

Seeks to exempt 10% ethanol blended petrol from additional duty of excise

Excise Duty : Notification No. 12/2018-Central Excise Seeks to exempt 10% ethanol blended petrol from additional duty of excise (road and infras...

February 2, 2018 687 Views 0 comment Print


CBEC rescinds notification No. 62/2008-Central Excise dated 24.12.2008

February 2, 2018 558 Views 0 comment Print

Central Government rescinds the notification No. 62/2008 –Central Excise, dated the 24th December, 2008, published in the Gazette vide, number G.S.R. 885(E), dated 24th December, 2008, except as respects things done or omitted to be done before such rescission.

CBEC rescinds notification No. 38/2004-Central Excise dated 04.08.2004

February 2, 2018 576 Views 0 comment Print

Central Government hereby rescinds notification No. 38/2004 –Central Excise, dated 4th August, 2004 , published in Gazette vide, number G.S.R. 500(E), dated the 4th August, 2004, except as respects things done or omitted to be done before such rescission.

CBEC rescinds notification No. 11/2015-Central Excise dated 01.03.2015

February 2, 2018 1212 Views 0 comment Print

Central Government hereby rescinds notification No. 11/2015 –Central Excise, dated the 1st March, 2015 , published in Gazette of India vide, number G.S.R. 141(E), dated the 1st March, 2015, except as respects things done or omitted to be done before such rescission.

CBEC rescinds notification No. 10/2015-Central Excise dated 01.03.2015

February 2, 2018 1146 Views 0 comment Print

Central Government hereby rescinds the notification No. 10/2015 –Central Excise, dated the 1st March, 2015 , published in the Gazette of India vide, number G.S.R. 140(E), dated the 1st March, 2015, except as respects things done or omitted to be done before such rescission.

‘Nil’ rate of export duty on Electrodes of a kind used for furnaces

February 2, 2018 2763 Views 0 comment Print

Seeks to further amend notification No. 27/2011- Customs dated the 1st March, 2011 so as to prescribe ‘Nil’ rate of export duty on Electrodes of a kind used for furnaces

BCD on specified parts of cellular mobile phones and other electronic goods

February 2, 2018 4740 Views 0 comment Print

Seeks to further amend notification No. 57/2017- effective rates of BCD on specified parts of cellular mobile phones and other electronic goods Customs dated the 30th June, 2017 so as to prescribe

CBEC exempts Additional Duty of Customs (Road Cess) levied U/s. 116 of Finance Act, 1999

February 2, 2018 780 Views 0 comment Print

Notification No. 20/2018-Customs Seeks to exempt Additional Duty of Customs (Road Cess) levied under section 116 of the Finance Act, 1999

CBEC exempts Additional Duty of Customs (Road Cess) levied U/s.103 of Finance Act, 1998

February 2, 2018 573 Views 0 comment Print

Notification No. 19/2018-Customs Seeks to exempt Additional Duty of Customs (Road Cess) levied under section 103 of the Finance ( No. 2) Act, 1998

Seeks to rescind notification No. 59/99-Customs dated 11.05.1999

February 2, 2018 744 Views 0 comment Print

Central Government rescinds notification No. 59/99-Customs, dated11th May, 1999, published in Gazette vide, number 331( E), dated 11th May, 1999, except as respects things done or omitted to be done before such rescission.

Seeks to rescind notification No. 57/98-Customs dated 01.08.1998

February 2, 2018 558 Views 0 comment Print

Central Government rescinds notification No. 57/98-Customs, dated 1st August, 1998, published in the Gazette vide, number 420(E), dated the 1st August, 1998, except as respects things done or omitted to be done before such rescission.

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