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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
A simplified GST return shall be implemented from the 1st April, 2020. It will make return filing simple with features like SMS based filing for nil return, return pre-filling, improved input tax credit flow and overall simplification. Dynamic QR-code is proposed for consumer invoices. GST parameters will be captured when payment for purchases is made through the QR-code.
Hello Everyone, on 1st February, 2020 our Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman has brought out long but deep thoughtful budget with lot of actionable commitments. On the plate of Direct Tax Proposals there are around 50 amendments brought in by the Finance Bill, 2020. Changes in Personal Income Tax Slabs being most […]
Detailed Analysis on Incentive to Individuals and HUF by insertion of New Section 115BAC under Finance Bill 2020 Dear all, all we new that new finance bill has been brought up by finance minister in last week of January 2020 in which they have inserted a new section 115BAC of Income tax act to called […]
The Finance Minister has proposed several changes in respect of taxation of Individual through Finance Bill 2020. Changes are discussed below: New Slab rates for Individuals on cost of removal of exemptions/deduction (Optional Tax Regime Sec 115BAC) The Finance Minister Nirmala Sitharaman has proposed a new optional tax regime in the budget 2020 for the […]
The Union Minister for Finance made her maiden Budget Speech and presented the Union Budget 2020-21 before the Parliament. The Seventeen Practical Important highlights of Budget 2020 are as follows: 1. Incentives to resident co-operative societies. It is proposed to insert a new section (115BAD) in the Act to provide that a co-operative society resident […]
Arjuna: Krishna, the Union Budget for 2020-21 was announced on 1st of February 2020. Various new googly provisions were proposed in the same, kindly please explain which were those? Krishna: Arjuna, In the Union Budget 2020-21, there are certain provisions proposed, those may take the taxpayer’s wicket. While playing a 20-20 cricket match, the players […]
BUDGET 2020 A snapshot of budget announcements for MSMEs, Exports, Start-ups & Innovation ⇒ MSME 1. SUBORDINATE DEBT: Working capital credit remains a major issue for the MSMEs. Hence this scheme to provide subordinate debt for MSMEs, to be provided by banks to be treated as quasi-equity and would be fully guaranteed through CGTMSE. 2. […]
TDS: A-3 DEE System | Deduct, Deposit and Declare The book ‘TDS: A 3-DEE SYSTEM’ is a mobile guide for the taxpayers. All the sections are incorporated in the form of Frequently Asked Question (FAQ). It is an attempt to keep the taxpayers updated as well as informed and provides all the information related to […]
Income Tax reduced tax rate option on individual or HUF who has business income once opted, have to apply to all subsequent years. It means it cannot go back and choose old rate with all deductions etc. (Applicable from FY 2020‐21) In Sep 2019, government announced reduced corporate tax rate to 15% or 22% and […]
This article is aimed at summarizing the various changes in Income tax act which would effect an individual tax payer. New Tax scheme- An option was provided to Individuals and HUF to opt for lower tax rate by foregoing certain exemptions / deductions.
