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Budget

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Budget 2024 – Issues in Presumptive Taxation

Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...

July 16, 2024 4737 Views 0 comment Print

Anticipating India’s Budget 2024: Expectations and Projections

Income Tax : Explore India's Budget 2024 expectations and projections, including potential tax relief, increased healthcare and education spend...

July 15, 2024 1056 Views 0 comment Print

Anticipations and Expectations for Budget 2024

Income Tax : Explore the key expectations for Budget 2024, including potential tax reliefs, increased deductions, and economic growth strategie...

July 11, 2024 417 Views 0 comment Print

Rationalise Income Tax Rates to augment income and for better Compliance

Income Tax : Explore rationale behind rationalizing income tax rates in India, its impact on compliance, and potential benefits for taxpayers. ...

June 21, 2024 1107 Views 2 comments Print

Pre Budget Memorandum 2024-25: Tax Base, Avoidance, Litigations

Income Tax : Explore the comprehensive Pre Budget Memorandum 2024-25 addressing crucial aspects like tax base expansion, avoidance mitigation, ...

June 19, 2024 25143 Views 3 comments Print


Latest News


Postmortem of Union Budget 2024: A Comprehensive Webinar

Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...

July 16, 2024 3852 Views 3 comments Print

Rajasthan Budget 2024-25 Tax Proposals

Goods and Services Tax : Explore Rajasthan Budget 2024-25 tax proposals with reductions in VAT rates, abolition of certain taxes, and new incentives. Detai...

July 10, 2024 459 Views 0 comment Print

Budget 2024 Proposals: GST & Income Tax Amendments

CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...

June 29, 2024 5280 Views 0 comment Print

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3255 Views 0 comment Print

Suggestions for Union Budget 2024-25 in Direct Tax Domain

Income Tax : Explore comprehensive suggestions for Union Budget 2024-25 in direct tax domain, addressing key reforms and their potential impact...

June 17, 2024 1083 Views 0 comment Print


Latest Judiciary


Plea in Madras HC on Penalty on CAs for Filing Wrong Information- Section 271J

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...

May 9, 2017 4908 Views 2 comments Print

In all cases where additional evidence is admitted, the CIT (A) should be considered to have exercised his powers u/s 250(4) is not acceptable

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 ...

March 18, 2012 2264 Views 0 comment Print


Latest Notifications


Budget 2024: CBDT invites Suggestions on changes in direct & indirect taxes 

Income Tax : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...

June 12, 2024 849 Views 0 comment Print

Finance Act 2024: President Grants Assent

Income Tax : On February 15, 2024, President Droupadi Murmu granted his assent to the Finance Act 2024 (Budget 2024), officially bringing the g...

February 15, 2024 5685 Views 0 comment Print

Government announces Remission of Income Tax Demands as per Budget 2024

Income Tax : Explore the details of F. No. 375/02/2023 - IT-Budget by the Ministry of Finance. Learn about the remission of outstanding tax dem...

February 13, 2024 12321 Views 0 comment Print

Updation of changes vide Budget 2024-25 in System

Custom Duty : Explore the impact of Budget 2024-25 updates by the Office of the Pr. Commissioner of Customs. Learn about changes, timelines, and...

February 1, 2024 825 Views 0 comment Print

Finance Bill, 2024 for Interim Budget 2024-2025

Income Tax : The Finance Bill, 2024, also known as Bill No. 14 of 2024, is a legislative proposal introduced in the Lok Sabha, the lower hous...

February 1, 2024 8406 Views 0 comment Print


5 Major Custom Duty Proposals of Union Budget 2023-24

February 3, 2023 705 Views 0 comment Print

In this article author covered 5 Major Custom Duty Proposals of Union Budget 2023-24 which includes Exemptions from Social Welfare Surcharge

Highlights of Proposed GST Amendments in Finance Bill 2023

February 3, 2023 1974 Views 0 comment Print

Learn about the amendments to the GST in Finance Bill 2023 & how they will affect composition dealers. Keyphrase Highlights of Proposed GST Amendments in Finance Bill 2023

Budget 2023: Threshold limits for presumptive taxation schemes increased

February 3, 2023 55884 Views 0 comment Print

Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceeds one crore rupees in any previous year. The limit is raised to ten crore rupees where at least 95% of receipts/payments are in non-cash mode.

Section 35 – Preliminary expenses – Removal of condition of activity

February 3, 2023 2994 Views 0 comment Print

Income Tax Section 35D amended to remove condition of activity in connection with preliminary expenses of a concern approved by CBDT

15% concessional Income tax to promote new manufacturing co-op society

February 3, 2023 2679 Views 0 comment Print

Budget 2023: section 115BAE provides concessional tax regime of 15% to new manufacturing co-operative societies

Budget 2023: Definition of ‘strategic disinvestment’ in section 72A amended

February 3, 2023 2349 Views 0 comment Print

Section 72A amended to provide strategic disinvestment shall mean sale of shareholding by Central Government, State Government or PSU in a PSU

Budget 2023: Exemption to development authorities etc

February 3, 2023 1614 Views 0 comment Print

It is proposed to amend Income Tax Act so as to exclude income of a body or authority or Board or Trust or Commission, not being a company, from the scope of clause (46) of section 10 of the Act and insert a new clause (46A) in section 10 of the Act for their income.

Budget 2023: Tax Incentives to International Financial Services Centre

February 3, 2023 1764 Views 0 comment Print

Learn about the budget 2023 tax incentives for International Financial Services Centre units under the act. Offshore Derivative Instruments income exempt from taxes. Transfer of assets for relocation extended to 31st March 2025.

Conversion of Gold to Electronic Gold Receipt & vice versa not transfer

February 3, 2023 1524 Views 0 comment Print

Transfer of physical gold to Electronic Gold Receipt issued by a Vault Manager or vice versa shall not be considered as ‘transfer’ Section 47

Section 80-IAC deduction- Incorporation date extended for eligible start-up

February 3, 2023 7671 Views 1 comment Print

Budget 2023 amends Section 80-IAC to extend the period of incorporation of eligible start-ups to 1st day of April 2024.

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