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...
Explanatory Memoranda to notification Nos. 3 to 6/2017-Customs, dated 2.2.2017 Sl. No. Notification No. Description 1. 3/2017-Customs Seeks to further amend Notification No. 27/2011-Customs dated 1.3.2011. 2. 4/2017-Customs Seeks to further amend Notification No. 21/2012-Customs, dated the 17.03.2012 so as to specify the rate of additional duty of customs leviable under sub-section 3(5) of Customs Tariff […]
Clauses 120 to 128 of the Bill cover the amendments made to,- • Chapters V and VA of the Finance Act, 1994;• the Service Tax (Determination of Value) Rules, 2006; Other changes are being given effect to by inserting new entries, and amending/omitting existing entries in notification No. 25/2012-ST dated 20.6.2012 and by amending the CENVAT Credit Rules, 2004.
Finance Minister Arun Jaitley has Presented his 3rd Union Budget today in Lk Sabha. Vide this Budget Finance Minister has proposed Changes in around 150 Provisions. We have attached herewith copy of Finance Bill 2017 i.e. Union Budget 2017 as presented in Lok Sabha for ready reference of Our readers. Click here to Download Copy of […]
In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016
Budget 2017-2018 Speech of Arun Jaitley Minister of Finance February 1, 2017 Madam Speaker, On this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18. Spring is a season of optimism. I extend my warm greetings to everyone on this occasion. 2. Madam Speaker, our Government was elected amidst huge expectations […]
The list of Budget documents presented to the Parliament, besides the Finance Ministers Budget Speech, are the following
We are largely a tax non-compliant society & the burden of tax-evaders falls on honest taxpayers : FM Rate of growth in advance tax in personal income tax in last 3 quarters of this financial year is as high as 34.8% 76 lakh individuals reported income over Rs 5 lakh, 56 lakh of them are […]
Hon’ble Finance Minister Shri Arun Jaitley tabled today Economic Survey Report 2017 in the Parliament, outlining the broad direction of the Union Budget 2017 and the economic performance of the Country.
If we analyze, we will understand that, it is tendency of the people to save tax, they do tax planning. If the Tax rates are too high, tax planning and ways and means to save tax will emerge
The latest round of FICCI’s Economic Outlook Survey puts forth an annual median GDP growth forecast of 6.8% for 2016-17. This is 0.5 percentage points lower than the estimate of 7.3% put across in the last round. The Central Statistical Organization had projected a GDP growth of 7.1% for 2016-17 earlier this year.