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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Seeks to further amend notification No. 50/2017- Customs dated the 30th June so as to prescribe effective rate of basic customs duty (BCD) consequent to the changes proposed in the Union Budget 2018-19
The honorable finance minister Shri Arun Jaitley presented the budget on 1st February’2018. There were not much tax incentives for the taxpayers. Still, there were some proposals to benefit senior citizens. 1)Deductions available to senior citizens in respect of health insurance premium: Section 80D provides a deduction to Individual and HUF in respect of payment […]
Hope is the only thing which drives us to look forward despite of all the sufferings we are going from. Who are We? We THE COMMON MAN. Budget 2018 is nothing but it was a last hope from this government term of 5 years, to get us some ointment on our healing wounds of compliances and harassment of tax policies.
For understanding key highlights of the Budget, Mr. Bimal Jain has recorded a Video Presentation on Union Budget, 2018, discussing the various amendments brought/proposed in Indirect Taxes along with suggesting the GST road map which could have been the part of Budget.
The new budget which was introduced by Mr Jaitley saw the reintroduction of tax on Long term capital gain @10% with certain restrictions. The pivotal part of this restriction can be entirely put into one word i.e GRANDFATHERING as on 31st January 2018 , which certainly is inspired by tweets of Mr Shashi tharoor considering the usage of such a rare word.
The key Union Budget 2018 Announcements are summarized here under and a detailed executive summary of Income Tax Provisions is also attached for your ready reference.
This Union Budget 2018 presentation is restricted to the direct tax proposals only. All tax proposals are applicable with effect from 01/04/2019 i.e. from Assessment Year 2019-20, unless and otherwise specified. This presentation is for knowledge sharing purpose only and for private circulation only. It should not be considered as professional advice in any form or manner.
India is one of the first movers of such digital PE taxation and is setting up precedence in the International Taxation. It might be a rightful move for the Indian Government to capitalize on the consumer base and get a share of the profits swept by the non-resident players exploiting the huge consumption market base.
A fiscal deficit of 3.3% of GDP is proposed for 2018-19. This has been conservative approach by the govt. considering the impact of GST & Demonetization in the prior years.
Article provides detailed analysis of budget 2018 in relation personal taxation along with that comparison has also been made with budget expectations.
