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Capital gain on amalgamation – No need for issue of share by amalgamated company to amalgamating subsidiary company

No requirement of issue of shares where resulting company itself is a shareholder of demerged company

AO can refer valuation officer if in his opinion value taken on 1.4.1981 is higher than fair market value

HUF eligible to S.54B benefit on Capital gain from sale of agricultural land

S.2 Definition of Commissioner to include Director of Income-tax

RBI exempt from Wealth Tax

Assessee liable to pay advance tax on income without deduction or collection of tax

S.115JB P/L a/c prepared under regulatory Acts to be basis for computing book profit for insurance,banking,electricity company

MAT Payble on Gain from disposal of revalued asset even if Gain not credited to P/L a/c

Due date of furnishing audit report in case of international transactions extended to 30th November

Extension of time for completion of assessments and reassessments

Vodafone Effect – All demands on transfer of share of a company registered or incorporated outside India valid irrespective of any judgment

Extention in time limit for issue of notice to person who is treated as agent of a non-resident

S. 1945 CBDT may specify taxability of Foreign Payment, Amount Taxable and Tax Deductible
Explore the latest Budget updates on TaxGuru, including relevant legal provisions, notifications, circulars, case laws, compliance developments and expert analysis. This page brings together important developments and practical guidance to help taxpayers, businesses and professionals stay informed and understand the regulatory and commercial implications of changes.
