Income Tax : Explore the significant changes in capital gains taxation proposed in Budget 2024, including revised tax rates, holding periods, a...
Income Tax : Learn about Section 194T introduced in Finance Bill 2024, covering TDS on payments to partners, its implications, and potential c...
Income Tax : Budget 2024 introduces significant amendments in trust-related provisions under the Income Tax Act, including registration timelin...
Income Tax : Explore the latest tax provisions affecting mutual fund income, including recent changes in capital gains taxation and classificat...
Company Law : Tax implications of the Finance Bill 2024 on share buybacks. Key changes, examples, and their impact on shareholders' tax liabilit...
Income Tax : Key amendments to the Finance (No.2) Bill, 2024, include changes in tax rates, capital gains, customs duties, and excise laws, eff...
CA, CS, CMA : ICAI President's August 2024 message highlights India's economic growth, recent exam results, and the Union Budget's role in achie...
Goods and Services Tax : Discover the major amendments in GST, excise, and customs duties introduced in Budget 2024, including changes in CGST, IGST, and C...
Income Tax : Finance Bill 2024 proposes an amendment to Section 55 of the Income Tax Act to clarify the computation of cost of acquisition for ...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Goods and Services Tax : Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions...
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 : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Goods and Services Tax : Govt. sets October 1, 2024, for Finance Act 2024, Section 13; April 1, 2025, for Sections 11 and 12, under Notification No. 16/202...
Custom Duty : Notification No. 51/2024-Customs (N.T.) introduces New Shippers Review in countervailing duty rules, effective from 24th July 2024...
Custom Duty : Notification No. 39/2024-Customs amends No. 45/2017-Customs to extend re-import period from 3 to 5 years, effective from 24th July...
Custom Duty : Government of India amends 32 Customs notifications and extends the re-export period for certain foreign-origin goods under Notifi...
Under the existing provisions of the Act, clause (5) of section 10 of the Act provides for exemption in respect of the value of travel concession or assistance received by or due to an employee from his employer or former employer for himself and his family, in connection with his proceeding on leave to any […]
The provisions of Finance Bill, 2021, relating to direct taxes seek to amend the Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Finance (No 2) Act, 2004 and Finance Act, 2016 and the Direct Tax Vivad se Vishwas Act, 2020 to continue reforms in direct tax system through tax-incentives, removing difficulties faced by taxpayers and rationalization of various provisions.
The Finance Minister has introduced the Finance Bill, 2021 in Lok Sabha today, that is 1St February, 2021. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2021. To prescribe effectives rates of duty, following notifications are being issued:
Budget 2021- Seeks to amend notification Nos. 10/2018-Central Excise, 11/2018-Central Excise, 12/2018-Central Excise and 13/2018-Central Excise, all dated 02.02.2018, to add the reference of Agriculture Infrastructure and Development Cess in the appropriate duty of excise. Notification No. 07/2021-Central Excise Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 07/2021-Central […]
Budget 2021- CBIC Seeks to exempt E-20 fuel from Road and Infrastructure Cess – Notification No. 06/2021-Central Excise Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 06/2021-Central Excise New Delhi, the 1st February, 2021 G.S.R. 88(E).- In exercise of the powers conferred by sub-section (1) of section 5A […]
Budget 021- CBIC Seeks to exempt M-15 fuel from Road and Infrastructure Cess – Notification No. 05/2021-Central Excise Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 05/2021-Central Excise New Delhi, the 1st February, 2021 G.S.R.87(E).– In exercise of the powers conferred by sub-section (1) of section 5A of […]
Budget 2021- Seeks to amend notification No. 01/2017 – Customs (CVD) dated 7th September, 2017 so as to temporarily revoke the operation of the said notification for the period from 2nd February, 2021 to 30th September, 2021. Notification No. 02/2021-Customs (CVD) Dated 1st February, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification […]
Budget 2021- Seeks to amend notification No. 28/2002-Central Excise, dated 13.05.2002, to exempt M-15 and E-20 fuels from Special Additional Excise Duty and to add the reference of Agriculture Infrastructure and Development Cess in the appropriate duty of excise. Notification No. 04/2021-Central Excise Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of […]
Budget 2021- Seeks to rescind notification No. 02/2020 – Customs (CVD) dated 9th October, 2020– Notification No. 01/2021-Customs (CVD) Dated 1st February, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 01/2021-Customs (CVD) New Delhi, the 1st February, 2021 G.S.R. 81(E).- In exercise of the powers conferred by sub-section (2) of section […]
Budget 2021- Seeks to exempt Agriculture Infrastructure and Development Cess on blended fuels- Notification No. 03/2021-Central Excise Dated 1st February, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 03/2021-Central Excise New Delhi, the 1st February, 2021 G.S.R 85 (E). – In exercise of the powers conferred by section 5A of the […]
