Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allo...
Income Tax : Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism rema...
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...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
First women Finance Minister of India presented a decent budget with an aim to boost infrastructure and foreign investment in the country. The announced budget focused on bringing transparency in processes and procedures by proposing introduction of faceless assessment system, levy of TDS on cash payments above threshold limit and promoting digital payments. While the […]
Significant Direct Tax Proposals In The Finance (No. 2) Bill, 2019 Rates of tax No change in tax rates and basic exemption limit Tax rates for all persons, other than domestic companies, would continue to be the same for A.Y. 2020-21 as applicable for A.Y. 2019-20. Further, there would be no change in the basic […]
Union Budget 2019 Highlights – International Taxation 1. Relaxation in conditions of special taxation regime for offshore funds [Section 9A] In case of the investment fund incorporated or registered outside India, which satisfies certain conditions as provided in subsection 3 of section 9A of the IT Act, the fund management activity carried out through an […]
Last week, the first full time female Finance Minister of India, Nirmala Sitharaman, presented the first budget of Modi Government 2.0, which sets the tone for the Government’s policy for the next five years. This maiden Budget by the Finance Minister primarily focuses on the mission to drive India to become a five trillion-dollar economy […]
Analysis of Finance Bill (02) 2019- Goods and Service Tax The major proposed amendment by Finance bill (02) 2019 under GST are as follows. Few amendments which are not so important are not covered. 1. Amendment in Section 10 (Composition Scheme)- To Extend the Benefit of Composition Scheme to Supplier of Service Also History of […]
Are you an Individual or HUF Taxpayer? Be Ready to Deduct TDS on Contractual and Professional Services from 1st September 2019 In the Budget 2019 a new Section 194M has been inserted to require any individual or HUF (who is not required to deduct tax under Section 194C or 194J) to deduct tax at source […]
(A) New reforms in Union Budget 2019-20: – Lower rate of 25% Corporate Tax extended to Companies with Annual Turnover upto INR 400 Crore from earlier cap of upto INR 250 crores, covering 99.3% of the Companies. A relief to corporate sector and one of advantage of running your business as Corporate Entity. – To […]
Article analyses Budget Proposals by the Finance Act (No. 2), 2019 – Relevant for International Tax, Transfer Pricing & Non-Resident which includes Amendment of section 9 – Gift made to person outside India (non-resident), Amendment of section 9A – Providing relaxation in condition for offshore funds, Amendment of section 10 – Exemption of interest income […]
Article explains Union Budget 2019 Proposals Involving Changes in Export Duty Rates, Proposals Involving Change in Excise Duty Rate Though Notifications, Effective change in rate of Special Additional Excise Duty and Road and Infrastructure Cess on Petrol and Diesel, Amendments In Fourth Schedule To Central Excise Act, 1944, Amendment in the Sixth Schedule to the […]
Article contains Clause wise Amendments in the Customs Act, 1962 vide Finance (No.2) Bill, 2019 and Other Proposals Involving Changes In Basic Customs Duty Rates, Clarificatory Amendments In Respective Rate Notifications, Effective change in rate of Road and Infrastructure Cess on Petrol and Diesel, Amendment In The Sixth Schedule To Finance Act, 2018 and Other Miscellaneous […]
