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...
(i) Under the existing provisions of section 10 of the Act, any payment from the NPS Trust to an assessee on closure of his account or on his opting out of the pension scheme, to the extent it does not exceed forty per cent of the total amount payable to him at the time of […]
With a view to improve environment and to reduce vehicular pollution, it is proposed to insert a new section 80EEB in the Act so as to provide for a deduction in respect of interest on loan taken for purchase of an electric vehicle from any financial institution up to one lakh fifty thousand rupees subject […]
In Union Budget 2019, finance minister, Nirmala Sitharaman announced the major solution to our environment is to making our country more economy efficient as well as environmental efficient too, “Aiming to becoming a global hub for electric vehicle manufacturing, the government has already moved GST council to lower the GST rate on electric vehicles(EV) from 12% […]
Finance Minister declared a scheme namely ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019’. It aimed to settle unresolved issues pertaining to pre-GST regime.
Seeks to further amend notification No 27/2011- Customs dated 1st March 2011 to reduce the export duty on EI tanned leather and Hides, skins and leathers, tanned and untanned, all sorts vide Notification No. 27/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 27/2019-Customs New Delhi, the 6th […]
Seeks to further amend notification No 14/2006- Customs dated 1st March 2006 in order to change the classification of other dyed fabrics of nylon from 5407 42 00 to 5407 42 vide Notification No. 26/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 26/2019–Customs New Delhi, the 6th […]
Seeks to further amend notification No 50/2017- Customs dated 30th June, 2017 so as to prescribe effective rate of Basic Customs Duty (BCD) vide Notification No. 25/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 25/2019 –Customs New Delhi, the 6th July, 2019 G.S.R. 482(E).— In exercise of […]
Seeks to further amend notification No 57/2017- Customs dated 30th June, 2017 to explicitly exclude the specified electronic items from scope of entry at S.No. 6A of the notification and to provide the effective rates on other goods vide Notification No. 24/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) […]
Seeks to further amend notification No 25/2005-Customs dated 1st March, 2005 to explicitly provide BCD exemption on the specified parts of line telephone handset vide Notification No. 23/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 23/2019 – Customs New Delhi, the 6th July, 2019 G.S.R. (E)….- In […]
Seeks to further amend notification No 25/2002-Customs dated 1st March, 2002 to exempt specified capital goods use for manufacture of specified electronic items vide Notification No. 22/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2019–Customs New Delhi, the 6th July, 2019 G.S.R.479(E).– In exercise of the powers […]
