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...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Article explains Proposed Amendments in Finance Bill, 2020 applicable on Charitable Organisations and includes Cases Applicable On Organisations Registered Under Section 12A As Well As Under Section 10(23C) Of Income Tax Act,1961 and Cases Applicable Only On Organisations Registered Under Section 12A. Cases Applicable On Organisations Registered Under Section 12A As Well As Under Section […]
Disputed tax in relation to an assessment year or financial year, as the case may be, means the income-tax, including surcharge and cess (hereafter in this clause referred to as the amount of tax) payable by the appellant under the provisions of the Income-tax Act, 1961, as computed under different circumstances
How much Vivad would be closed and how much Vishwas the Vivad se Vishwas scheme will be able to achieve that in coming months would be in front of all of us,but this scheme has proved the true integrity that we professionals have. It is the professionals who foregoing their professional opportunities and are educating […]
The Finance Bill 2020, presented the Vivaad se Vishwas scheme [VVS]. The government introduced this scheme because they are positive to receive Rs. 9 lacs crore’s sum, which is stuck into tax litigations. As per a recent conference of date, 6th March on ” VVS” between “The CBDT” officials and the multiple industries spoke persons […]
1. Direct Tax Vivad se Vishwas Scheme is Applicable for all pending income tax, TDS appeals pending before CIT , ITAT, HC, SC and also for orders passed for which time limit for further appeal is not expired and appeals which are not admitted by courts as on 31.01.2020. 2. Direct Tax Vivad se Vishwas […]
The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litigation. Pursuant to the Budget announcement, the Direct Tax Vivad se Vishwas Bill, 2020 was introduced in the Lok Sabha on 5th of February, 2020 and passed by it on 4th of March, 2020.
Impact of Budget 2020 Finance Bill on charitable institutions:- 1) Re-validation of existing registrations All the existing charitable and religious institutions already registered under Section 12A (trusts and institutions registered prior to 1996), Section 12AA (trusts and institutions registered after 1996), Section 10(23C) and Section 80G will be required to re-apply to the income tax authorities […]
(I) Introduction: In recent time, Government has taken several measures to reduce tax litigations. In Finance Act (No. 2) of 2019, a dispute resolution cum amnesty scheme called “the Sabka Vishwas Legacy Dispute Resolution Scheme, 2019” has been introduced for resolution and settlement of legacy cases of Central Excise and Service Tax, which was operated […]
It is said that a person feels joyous and happy when something unexpected positively happened in one’s life but on other hand unexpected kindness showered on them by almighty God also frightened one’s inner soul simultaneously from an unexpected fear that what will happen if this happiness is taken away back. The same situation is […]
Introduction Although Direct Tax Vivad Se Vishwas Scheme has been launched to end litigation but there are number of grey areas which require clarification or can become source of future litigation. Some of these areas are being highlighted as below: 1. Vivad Se Vishwas Scheme, except section 3 of the Scheme, does not override Income […]
