Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allo...
Income Tax : Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism rema...
Finance : Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
Income Tax : The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
CA, CS, CMA : Budget 2026 prioritises easing compliance, reducing penalties, and cutting litigation rather than raising tax rates. The reforms a...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
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 : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026. The rescission is ...
Excise Duty : The government has extended key excise provisions and introduced a specific duty structure for CNG blended with biogas. The key ta...
Excise Duty : The government has reduced the effective National Calamity Contingent Duty on specified tobacco products. The key takeaway is a ca...
There is no change in the personal income tax rates of the individuals and HUF for Financial Year (‘FY’) 2022-23 in reference to Assessment year (‘AY’) 2023-24. Individuals and HUF have an option same as last year to choose between the Old tax regime and the New Tax regime as introduced in in Budget 2020.
Finance Minister Smt. Nirmala Sitaraman has announced the introduction of Digital Currency into the Indian Economy in Budget 2022. It would be Central Bank Digital Currency (CBDC). RBI will bring this New Format of Currency in the Upcoming Financial Year. CBDC is a big move for the Indian Economy and India will become the first […]
The Budget 2022 has witnessed a renewed push for digital India – be it digital rupee, e-passport, e-Vidya, digitization of land records, digital banking, digital universities, the Government has laid out a digital vision towards new India. The Government has rightly always sought to immerse technology in the optimum manner in it’s pursuit towards ease […]
1) Before analysing the newly inserted sub-section (8A) to Section 139 for filing of updated return, brief overlook of the existing provisions of U/S. 139 of filing of Return.
What are Virtual digital assets Clause 47A has been introduced under section 2 of the Act which defines Virtual Digital Assets. ‘(47A) “virtual digital asset” means– (a) any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital […]
The Finance Minister in Budget 2022 announced a 30 percent tax on income resulting out of transfer of digital assets and loss if any, won’t be set off against any other income. This provision was necessary to keep a check on money that was flowing in cryptocurrency market. Although, the cryptocurrency now falls under tax […]
Taxation of virtual digital assets- Union Budget 2022 Hello readers, Today I will discuss taxation of virtual digital asset in simplified manner- As we know new scheme of taxation has been introduced for virtual digital asset in the Finance Bill. What is virtual Digital Asset? ‘’Virtual Digital Asset’’ means any information or code or number […]
यह प्रस्तावित 30% आयकर 1 अप्रैल 2022 से और 1% का टीडीएस 1 जुलाई 2022 से प्रभावी होगा, जो वित्तीय वर्ष 2022-23 से प्रभावी होगा। पिछले कुछ वर्षों में डिजिटल संपत्ति में लेनदेन तेजी से बढ़ा है। बजट 2022 में माननीय वित्त मंत्री श्रीमती निर्मला सीतारमण ने वर्चुअल एसेट क्लास में क्रांतिकारी बदलाव की घोषणा […]
Introduction Hon’ble Finance Minister Nirmala Sitharaman has presented her fourth Budget on 01 Feb 2022. The budget proposes a new new set of return concepts known as “Updated Return.” There have been three versions so far: -Original Return, -Revised Return, and -Belated Return, Finance Bill 2022 has introduced new concept of “Updated Return.” Budget proposes […]
Article explains changes vide Union Budget 2022 related to Changes in Input Tax Credit, Additional Condition of taking Input Tax Credit, Auto generated statement – Input tax, Extension of Due date for availing ITC, Availment of input tax credit, Restriction on credit usage, Cancellation of GST Registration, Extension of last date for issuance of credit […]
