Budget 2019

32 Income Tax Amendments – Assessment Year 2020-21

Income Tax - 32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 115BAB explained RATES OF TAXES APPLICABLE TO ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020) A. INDIVIDUAL AND HINDU UNDIVIDED FAMILY a) Individual Below 60 years /HUF Particulars of Taxable income Rate a ...

Read More

Finance Act 2019 amendments (Applicable for AY 2020-21 i.e. FY 2019-20)

Income Tax - FINANCE ACT 2019- AMENDMENTS (Applicable for AY 2020-21 i.e FY 2019-20) Some important amendments made by Finance Act 2019 to be noted while filing returns for AY 2020-21 1. Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall […]...

Read More

TDS Section 194M

Income Tax - What is Section 194M, Reason for the introduction of Section 194M, What is the meaning of ‘work’, ‘contract’, and ‘professional services’ in Section 194M, Who has to deduct TDS under section 194M, When can one deduct tax at source under section 194M, Rate of TDS under Section 194M and What is the time limit on […]...

Read More

FAQs: Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Income Tax - Who is eligible to file declaration under SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019? Any person falling under the following categories is eligible, subject to other conditions under the Scheme, to file a declaration:...

Read More

Relief Measure: Sabka Vishwas (Legacy dispute Resolution) Scheme, 2019

Income Tax - Dispute Resolution scheme came by Finance (No. 2) Act ‘2019 to give major relief to the taxpayers having unpaid outstanding liability as on 30-06-2019  with regards to Service Tax , Excise and under 26 other Indirect Tax enactments and Scheme is named as ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019′. Let summ...

Read More

E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Income Tax - Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS, 2019 or the Scheme) to close the pending legacy disputes of Service Tax and Excise....

Read More

Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019

Income Tax - Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases. In the Union Budget 2019-20, the Hon’ble Finance Minister announc...

Read More

7 Post Budget 2019 Suggestions by ICAI

Income Tax - DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 A. INTRODUCTION 1.0 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Post-Budget Memorandum to the Government. 1.1 In this memorandum, we have suggested certain amendments to the prop...

Read More

Amendments proposed in Finance (No. 2) Bill, 2019

Income Tax - List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No Name of Member and text of Amendment Clause No. SMT. NIRMALA SITHARAMAN: 7 Page 6, for lines 47 to 49, substitute.- “(viii) income arising outside . India, being any sum of money referred to in sub-clau...

Read More

Tax Deducted at Source under Section 194M of Income Tax Act, 1961

Income Tax - As the Announcement under UNION BUDGET 2019 had proposed a new section 194 M of the Income Tax Act,1961, which requires an Individual or an HUF, to deduct TDS @5%, where they make payment which exceeds Rs. 50 lakh in a year to a contractor or to a professional. Any Person Other than Those who […]...

Read More
Sorry No Post Found

Clarifications on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Circular No. 1072/05/2019-Central Excise - (25/09/2019) - Only the persons who are eligible in terms of Section 125 can file a declaration under the Scheme. The eligibility conditions are captured in Form SVLDRS-1 (Sr. No. 8). The system automatically disallows persons who are not eligible from filing a declaration....

Read More

Taxation Laws (Amendment) Ordinance, 2019

No 15 OF 2019 - (20/09/2019) - Taxation Laws (Amendment) Ordinance, 2019 amends Section 92BA, section 115BA Section 115JB, Section 115QA and Finance (No.2) Act, 2019. It also inserts section 115BAA - Tax on income of certain domestic companies and 115BAB- Tax on income of certain new domestic manufacturing companies....

Read More

SVLDRS declarations to be handled by Designated Committees

SVLDRS Advisory No. 01/2019 - (30/08/2019) - As you may be aware. the `Sabka Vishwas Legacy Dispute Resolution Scheme’ will come into effect on 1st September 2019. There will be two Designated Committees in each Commissionerate to handle the declarations made under this scheme. DIRECTORATE GENERAL OF SYSTEMS & DATA MANAGEMENT CENTRAL...

Read More

Circular on Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019

Circular No. 1071/4/2019-Central Excise 8 - (27/08/2019) - Circular No. 1071/4/2019-Central Excise.8 F. No. 267/78/2019/CX-8-Pt.III Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Dated, the 27th August, 2019 To The Principal Chief Commissioners/ Chief Commissioners (All) The Principal Director Gene...

Read More

Govt notifies Part I, IV, VI & VII of Chapter VI of Finance Act, 2019

S.O. 2899(E), S.O. 2900(E), S.O. 2901(E), S.O. 2902(E) - (09/08/2019) - Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter VI of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force. PUBLISHED BY AUTHORITY MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New D...

Read More

Recent Posts in "Budget 2019"

32 Income Tax Amendments – Assessment Year 2020-21

32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 115BAB explained RATES OF TAXES APPLICABLE TO ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020) A. INDIVIDUAL AND HINDU UNDIVIDED FAMILY a) Individual Below 60 years /HUF Particulars of Taxable income Rate a ...

Read More
Posted Under: Income Tax | ,

Finance Act 2019 amendments (Applicable for AY 2020-21 i.e. FY 2019-20)

FINANCE ACT 2019- AMENDMENTS (Applicable for AY 2020-21 i.e FY 2019-20) Some important amendments made by Finance Act 2019 to be noted while filing returns for AY 2020-21 1. Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall […]...

Read More
Posted Under: Income Tax |

TDS Section 194M

What is Section 194M, Reason for the introduction of Section 194M, What is the meaning of ‘work’, ‘contract’, and ‘professional services’ in Section 194M, Who has to deduct TDS under section 194M, When can one deduct tax at source under section 194M, Rate of TDS under Section 194M and What is the time limit on […]...

Read More
Posted Under: Income Tax |

FAQs: Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Who is eligible to file declaration under SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019? Any person falling under the following categories is eligible, subject to other conditions under the Scheme, to file a declaration:...

Read More
Posted Under: Income Tax |

E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS, 2019 or the Scheme) to close the pending legacy disputes of Service Tax and Excise....

Read More
Posted Under: Income Tax | ,

Clarifications on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Circular No. 1072/05/2019-Central Excise 25/09/2019

Only the persons who are eligible in terms of Section 125 can file a declaration under the Scheme. The eligibility conditions are captured in Form SVLDRS-1 (Sr. No. 8). The system automatically disallows persons who are not eligible from filing a declaration....

Read More

Relief Measure: Sabka Vishwas (Legacy dispute Resolution) Scheme, 2019

Dispute Resolution scheme came by Finance (No. 2) Act ‘2019 to give major relief to the taxpayers having unpaid outstanding liability as on 30-06-2019  with regards to Service Tax , Excise and under 26 other Indirect Tax enactments and Scheme is named as ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019′. Let summ...

Read More
Posted Under: Income Tax |

Important points of Taxation Laws (Amendment) Ordinance, 2019

Important pointers of The Taxation Laws (Amendment) Ordinance, 2019 1) For existing Companies – (Whether Manufacturing or not) a. Rate of tax – 22% + applicable surcharge and cess b. Conditions – Have not availed any deduction under i. Additional allowance on scientific research, ii. Section 32AD, 32AB, 35CCC, 35CCD iii. Additional ...

Read More
Posted Under: Income Tax |

Applicability, Eligibility, Relief, Procedure of Sabka Vishwas Scheme

Article explains Applicability of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, Eligibility for Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, Relief under the Scheme, Procedure to file forms under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 and Status of cases/ appeal pending before the authorities. Sabka Vi...

Read More
Posted Under: Income Tax |

Taxation Laws (Amendment) Ordinance, 2019

No 15 OF 2019 20/09/2019

Taxation Laws (Amendment) Ordinance, 2019 amends Section 92BA, section 115BA Section 115JB, Section 115QA and Finance (No.2) Act, 2019. It also inserts section 115BAA - Tax on income of certain domestic companies and 115BAB- Tax on income of certain new domestic manufacturing companies....

Read More

Browse All Categories

CA, CS, CMA (6,324)
Company Law (9,000)
Corporate Law (11,460)
Custom Duty (9,856)
DGFT (4,948)
Excise Duty (5,076)
Fema / RBI (5,440)
Finance (5,967)
Income Tax (44,847)
SEBI (4,843)
Service Tax (4,250)