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...
The list of Budget documents presented to the Parliament, besides the Finance Minister’s Budget Speech, is given below
Budget 2018-2019 Speech of Arun Jaitley Minister of Finance February 1, 2018 Section I Governance, Economy and Development Madam Speaker, 1. I rise to present the Budget for 2018-19. 2. Madam, four years ago, we pledged to the people of India to give this nation an honest, clean and transparent We promised a leadership capable […]
The Finance Minister has, while presenting the Union Budget 2018-19, introduced the Finance Bill in the Lok Sabha on the 1st of February, 2018. While Clause 99 of the Bill relates to exemption from integrated tax levied under section 3(7) of the Customs Tariff Act, 1975, Clauses 103 to 105 of the Bill cover the changes relating to service tax levied under the erstwhile Chapter V of the Finance Act, 1994, prior to 1St July 2017.
Download Union Finance Budget 2018 as presented by Finance Minister Arun Jaitley today in Lok Sabha AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2018 Bill No. 4 of 2018 THE FINANCE BILL, 2018 Download Union Finance Budget 2018
Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament. Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors. Government says, a series of structural reforms will propel India among the fastest growing economies of the world. Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path.
> To reduce the cost of capital for the MSMEs by improving lenders access to low-cost funding sources. > Lowering of income tax rates for businesses and professionals. This will also encourage them to wider taxation coverage. > From a digital perspective expect more incentives on digital payments and by bringing some changes in direct […]
Limited Liability Partnerships (LLP) were introduced with the objective to overcome the inherent limitations of partnership firms – blended with features of the “company” form of business structure. It was envisaged that the LLP model will soon gain immense popularity; however, there are some practical (and largely tax) challenges that need to be addressed in order to make LLPs the go-to structure for businesses.
Inheritance or Estate Tax is levied on the value of assets passed on to legal heirs through inheritance. Whether the time has come to reintroduce said inheritance tax in India? Whether prevailing conditions are in its favour? The answer is affirmative. In the interest of revenue, if not in this budget, the Ministry of Finance […]
As per the provisions of section 10(5) of the Income-tax Act, 1961, an exemption of the value of leave Travel Concession/ Assistance received by the employee from his employer is provided subject to fulfillment of prescribed conditions.
Section 234E provides for levy of fees of Rs 200 per day where there is delay in filing of quarterly TDS returns.
