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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
In this write-up, I am trying to decode these lesser talked about ‘Nuances and Deeper Implications’ of the proposed amendments in Finance (No. 2) Bill, 2019, in continuation to my earlier write-up titled ‘Decoding Union Budget 2019-20’, published on 6.7.2019, as under:
Budget 2019 has brought in amendments to the rules governing M&A transactions from a tax perspective – this article provides highlights of proposed changes.
Following key amendments are being proposed in Goods and Service Tax Act, 2017 under Finance (No. 2) Act, 2019 i.e. Union Budget 2019:- 1. A Proviso has been inserted to clarify that interest for late payment of tax shall be levied only on that portion of tax which has been paid by debiting the electronic […]
Budget announced, now time to update…..Brief Highlighted Points related to Income Tax amendments proposed in Income Tax Act, 1961 under Finance (No. 2) Act, 2019:- 1. The threshold limit for reduced tax rate of 25% in case of domestic companies has been increased from Rs. 250 crores to Rs. 400 crores. Thus, a domestic company whose […]
The Start-ups were having high expectations from the first budget of Modi Govt. 2.0 and the Finance Minister, Smt. Nirmala Sitharaman hasn’t let down their expectations. She proposed to start a television programme within the DD bouquet of channels exclusively for start-ups. Further, tax proposals made by Finance Minister were aimed to encourage start-ups by […]
As per the existing provisions of Section 194C and Section 194J, an individual or HUF, who are not liable to tax audit under Section 44AB(a)/44AB(b), shall not be required to deduct tax under these provisions. Thus, no tax is required to be deducted by an individual or HUF from payment made to contractor or professional […]
Article covers the following union Budget 2019 Changes related to Transfer Pricing, Taxation of Individuals and Changes in Income Tax Rates which includes changes in Section 92D: Clarification to keep, maintain and furnishing of information and documents by Constituent Entity, Section 92CE: Clarification regarding provisions of Secondary Adjustment, Section 92CD: Effect to Advance Pricing Agreement, […]
1. Marginal Relief is required for those whose income marginally exceeds Rs. 5 Lakhs, wherein the tax payable exceeds the income that exceeds Rs. 5 Lakhs. Upto income of Rs. 5,15,630/- the tax is to be restricted to the income that exceeds the limit of Rs. 5,00,000/-. 2. Proposed increase in levy of surcharge of […]
Finance Bill, 2019 – Analyses of Key Changes Proposed -As per the Income Tax Return Statistics available from the CBDT portal for the AY 2017-18, around 4.99 crore Income tax returns were filed out of the total population of 130 crores (approx.), which is roughly 3.84% only. -Further, if we analyse the income tax returns […]
The Budget for each year is essentially a statement of income and expenditure of the Government. However, with the expansion of the Indian economy, it has acquired the role of a policy document. The Budget presented by the Finance Minister, Smt. Nirmala Sitharaman, is a policy document for the medium term.
