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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
The process of approval and registration of trusts, institutions, funds, university, hospital etc. proposed to be rationalised with effect from 1.6.2020. Now, the approval or registration or notification for exemption will be valid for a period not exceeding five years at one time;
Section 115BAC of Income Tax Act. 1. Clause 53 of the Bill seeks to insert new section 115BAC in the Income-tax Act relating to tax on income of individuals and Hindu undivided family. These amendments will take effect from 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-2021 and subsequent […]
VIVAD SE VISHWAS scheme Bill, 2020 was introduced to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. Article 19 of Indian Constitution provides freedom of Speech and Expression, every citizen of India has given right to raise his voice and express his views, as the old quote says “Individuals […]
Budget 2020: Concerns / Issues As To Proposed Provisional Registration/ Approval Under Section 12AB, Section 10(23C) & Section 80G Introduction : It has been proposed under the Finance Bill, 2020 that w.e.f. 01st June, 2020 the registration / approval to the charitable / religious institutions, educational institutions, medical institutions etc. will be granted for the […]
Q.1 Who are going to be benefitted from this scheme? Ans. Every person, to whom demand is raised and who has filed the appeal before the CIT(A), High Court or Supreme Court and such appeal is pending on 31st Jan 2020. Q.2 When is this scheme going to be implemented and what is the last […]
TDS on E Commerce Transactions under Section 194O with effect from 01st April 2020 Are you planning to start selling your products or providing service on e-commerce platforms or Are you E commerce participant i.e. currently selling your products or providing services on e-commerce platforms? If your answer is yes, then this article will be […]
Brief of New Section 115BAC of Income Tax Act: New Income Tax Slab for the FY 20-21 A New section 115BAC of the Income-Tax Act, has been inserted with effect from the 1st day of April 2021 i.e. AY 2021-22. This section will provide the new and lower-income tax slab rates for the individual and […]
Direct and Indirect Taxes Updates- January 2020 (including Highlights of Finance Bill 2020) DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT has released Circular which explains provisions related to TDS on Salary under Section 192 of Income Tax Act, 1961 applicable for A.Y. 2020-21 or F.Y. 2019-20. Circular also explains taxation of different […]
1. What is the objective of the Vivad se Vishwas scheme? Ans: To provide for a one-time settlement scheme for resolution of disputed tax and for matters connected therewith or incidental thereto. 2. Who can avail the Vivad se Vishwas scheme? Ans: An Assessee whose appeal, whether filed by the Assessee or the Dept or both, […]
. In all 16 amendments have been proposed under the CGST Act, 2017 by virtue of clauses 116 to 131 of the Finance Bill, 2020. Parallel 2 amendments have been proposed under the IGST Act, 2017 by virtue of clauses 132 & 133 of the Finance Bill, 2020. Also parallel 4 amendments have been proposed under the UT GST Act, 2017 and one amendment has been proposed under the Compensation to States Act, 2017.
