Income Tax : 32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 1...
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 n...
Income Tax : What is Section 194M, Reason for the introduction of Section 194M, What is the meaning of ‘work’, ‘contract’, and ‘profe...
Excise Duty : Who is eligible to file declaration under SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019? Any person falling under the fol...
Excise Duty : Dispute Resolution scheme came by Finance (No. 2) Act ‘2019 to give major relief to the taxpayers having unpaid outstanding ...
Excise Duty : Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Unio...
Excise Duty : Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects...
Income Tax : DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 A. INTRODUCTION 1.0 The Cou...
Income Tax : List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No...
CA, CS, CMA : As the Announcement under UNION BUDGET 2019 had proposed a new section 194 M of the Income Tax Act,1961, which requires an Individ...
Excise Duty : Only the persons who are eligible in terms of Section 125 can file a declaration under the Scheme. The eligibility conditions are ...
Income Tax : Taxation Laws (Amendment) Ordinance, 2019 amends Section 92BA, section 115BA Section 115JB, Section 115QA and Finance (No.2) Act, ...
Excise Duty : As you may be aware. the `Sabka Vishwas Legacy Dispute Resolution Scheme’ will come into effect on 1st September 2019. There...
Excise Duty : 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 Rev...
Income Tax : Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter...
Direct Tax Proposal – Quick Insight [Budget for clean environment, technology advancement, low cost housing and less cash economy] Brief presentation dealing with following subject areas proposed in Budget. i) Tax Rate ii) Electric vehicle [Section 80EEB] iii) Affordable Housing [Section 80-IBA & Section 80EEA] iv) Start-ups v) Tax deducted at source vi) Income Tax Return […]
Indirect Tax Budget (GST) -2019 1. Provision of Inter Transfer of fund of Electronic Cash ledger from one head to another: Financial Bill proposes to allow a taxpayer to transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger to integrated tax, central tax, state tax, union […]
Conditions for Compulsory filing of Income-Tax Return: Budget 2019 It is a common understanding that an obligation file the return of income under the income-tax Act arises only if the income exceeds the maximum amount not chargeable to tax or when a person desires a loss sustained by him to be carried forward in future. […]
The Union Budget for 2019-20 was placed before Parliament on 05.07.2019. Some of the significant proposals related to Income Tax Act, 1961 are as under:
Union Budget for the year 2019-20, as laid in the Parliament on 5th July, 2019 is the first Budget of the new Union Government and so for the Union Finance Minister, a woman. While the Budget promises a host of plans, welfare schemes and developmental activities, here is a snap shot of the of the major offerings in terms of direct and indirect taxation in the backdrop of economic slowdown.
There are many issues in this proposed Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. Hope such issues get addressed favorably in the Rules and other clarifications to be issued in this regard.
The most awaited Union Budget 2019 is unveiled. This being the maiden budget of Modi 2.0, expectations of stakeholders and public at large were high. In order to provide relief to taxpayers and promote digital economy the Hon’ble Finance Minister Nirmala Sitharaman has proposed the following: Proposals to provide relief to taxpayers Interchangeability of Permanent […]
First women Finance Minister of India presented a decent budget with an aim to boost infrastructure and foreign investment in the country. The announced budget focused on bringing transparency in processes and procedures by proposing introduction of faceless assessment system, levy of TDS on cash payments above threshold limit and promoting digital payments. While the […]
Significant Direct Tax Proposals In The Finance (No. 2) Bill, 2019 Rates of tax No change in tax rates and basic exemption limit Tax rates for all persons, other than domestic companies, would continue to be the same for A.Y. 2020-21 as applicable for A.Y. 2019-20. Further, there would be no change in the basic […]
Union Budget 2019 Highlights – International Taxation 1. Relaxation in conditions of special taxation regime for offshore funds [Section 9A] In case of the investment fund incorporated or registered outside India, which satisfies certain conditions as provided in subsection 3 of section 9A of the IT Act, the fund management activity carried out through an […]
