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...
Presenting the first Union Budget of the third decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long term measures.
Finance Bill, 2020 (BILL No. 26 OF 2020) dated 01st February 2020 Honorable Finance Minister Nirmala Sitharaman has presented Budget for 2020-21 in Parliament today and proposed lots of Significant Changes in Direct and Indirect Taxes. Full Text of the same is as below:- LOK SABHA ———— The following Bill was introduced in Lok Sabha […]
100 more Airports to be developed by 2024 to support UDAAN Scheme. Union budget proposes Rs. 22000 Crore for Power and Renewable Energy sector in Current FY National Gas Grid to be expanded from the present 16200 km to 27000 km. Government to consider corporatizing at least one major port and its listing on stock exchanges
148 Km long Bengaluru Suburban Transport Project at a cost of Rs 18600 Crore proposed. A National Logistics Policy to create a single Window E-Logistics Market Proposal to Monetise at least 12 Lots of Highway Bundles of over 6000 Km before 2024. Proposal to Set up large Solar Power Capacity Alongside Rail Tracks, on Railway’s Land. Four Station Re-Development projects and Operation of 150 Passenger Trains through PPP Mode. National Skill Development Agency to give Special Thrust to Infrastructure-Focused Skill Development Opportunities.
Please find below exhaustive summary of Changes in Customs, Central Excise, GST law and rates that have been proposed through the Finance Bill, 2020, which was introduced in Lok Sabha by Finance Minister on 1st Februare 2020
Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman has releases Prominent Themes of Union Budget 2020-21 / Finance Bill 2020. Budget Highlights (Key Features) Prominent Themes of the Budget GOVERNANCE STRUCTURAL REFORMS IBC Honourable exit through IBC for companies. GST 20 per cent reduction in turn […]
Major Reforms Proposed in Administration of GST Regime- Simplified GST Return to be Implemented from 1st April, 2020 To weed out Dummy or Non-Existent Units Aadhaar Based Verification of Taxpayers to be introduced Dynamic QR-Code proposed for Consumer Invoices
Press Information Bureau Government of India Ministry of Finance 01-February-2020 14:43 IST New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers New tax regime to be optional for the taxpayers New rates entail estimated revenue forgone of Rs 40,000 Crore per year In order to provide significant relief to the individual […]
MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore. Increased limit to apply only to Businesses carring out less than 5% of their business transactions in cash Significant tax relief to start-ups
‘Vivad Se Vishwas’ scheme proposed to reduce litigations in direct taxes; scheme to remain open till 30th June, 2020 Faceless appeals proposed to eliminate human interface for imparting greater transparency in dispute settlement CBDT to adopt a taxpayers’ charter; details to be notified soon Pan to be allotted online on the basis of Aadhaar without any requirement of detailed application.