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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Budget 2019 can be said as a boon to middle class tax payers if they plan their tax well in advance. The budget has brought some major changes to small tax payers , salaried tax payers and also a has some favourable impact on real estate sector in view of changes in house property income […]
Article provide Summary / Highlight of Interim Union Budget 2019. RATES OF INCOME-TAX Income – Tax The provisions of section 2 of, and the First Schedule to, the Finance Act, 2018 (13 of 2018. ), shall apply in relation to income-tax for the assessment year (2020-2021) or, as the case may be, the financial year […]
1. Standard deduction in respect of Salaried employees has been raised from Rs 40000 to Rs 50000: 2. Full tax rebate for individuals having taxable income upto Rs 500000 3. Increase in TDS threshold on interest on bank and post office deposits from Rs 10000 to Rs 40000 4. Section 54 Capital gain exemption now extends to two house properties (Once in a life time):
Finance Bill 2019 is passed by Lok Sabha on 12.02.2019 and Text of the same is as follows:- AS PASSED BY LOK SABHA ON 12-2-2019 Bill No. 5-C of 2019 THE FINANCE BILL, 2019 A BILL to continue the existing rates of income-tax for the financial year 2019-2020 and to provide for certain relief to […]
This interim budget as expected intends to harvest good votes in the election season and has therefore proposed various beneficial proposals for small tax payers It proposes various provisions which are beneficial for the owners of property. Let us discuss. Enhancement for limit on TDS on rent The Finance Minister (FM) has proposed to enhance […]
Interim Budget 2019-20 is presented by Interim Finance Minister, Piyush Goyal. Here are some key highlights of changes in Direct tax: – No amendments in Income tax slab and Surcharge rates 1. The existing rate of Income tax will continue. Here is brief introduction of different rates of income tax for different entities: (i) Slab […]
This E-book / Article Contains following features of Interim Budget – 2019. 1. Standard Deduction and Rebate u/s. 87A 2. Example on Nil Tax for Senior Citizen upto Rs. 7.50 Lakhs Income 3. Example on Nil Tax for Others upto Rs. 7.10 Lakhs Income 4. Example on Extreme Tax Saving upto Rs. 11 Lakhs Income […]
Unbelievable change in budget 2019 about tax saving on sale of Residential house property under Section 54 of Income Tax Act, 1961.Inter Budget 2019 has proposed rollover of capital gains under Section 54 of the Income Tax Act from investment in one residential house to two residential houses for a taxpayer having capital gains up […]
No change in tax slab, FM announces full tax rebate on annual income up to Rs 5 lakh – No tax will be there for those whose taxable income is less than Rs 5 lakh. Finance Minister has proposed that individuals with income upto Rs 5 lakh will not be required to pay any income tax for FY2019-20.
The announcement made by the Finance Minister (FM) of no tax liability for income upto Rs. 5 lakhs created euphoria initially. This most beneficial proposal in the budget evinced the maximum interest and as well as also created maximum amount of confusion in the minds of taxpayers till the dust settled down on the proposal […]
