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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
The Union Budget for 2017-18 has shown the Government’s intent not only to create new work opportunities but to help the enterprising with limited means to set up their small ventures and stand up on their own.
Section 155(14A) proposes to provide that where the payment of foreign tax is under dispute credit of such taxes will be available in India in the year in which the dispute is settled, on satisfaction of certain conditions. To give effect to this an enabling provision shall be inserted through which Tax Authority
In order to ensure that the person furnishing report or certificate undertakes due diligence before making such certification, new section 271J is proposed to be inserted so as to provide that if an accountant or a merchant banker or a registered valuer
Article deals with proposed amendment in Section 2(hf), section 47(xb) and section 49(2AE) related to Tax neutral conversion of preference shares to equity shares and sought Clarification regarding tax treatment for earlier years
The Finance Act, 2012 amended Section 9(1)(i) of the Act with retrospective effect from 1st April 1962 to provide that any share or interest in an entity incorporated outside India shall be deemed to be situated in India if such share or interest derives, directly or indirectly, its value substantially from assets located in India.
The proposed introduction of section 115BBG providing for a 10 percent tax on income from transfer of carbon credits is a welcome move. This would go a long way in helping to resolve the uncertainty and litigation over the taxability of income from the transfer of carbon credits going forward.
The Finance Act, 2016 had inserted new Section 115BBDA to tax dividend income in excess of Rs. 10 lacs in case of an Individual, HUF and Firm at the rate of 10%.
The Finance Bill, 2017 proposes to amend section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act
An issue arises as to whether the proposed amendment intends to take out sale of jewellery completely from TCS levy or intends to retain the TCS levy on jewellery but with lower threshold of Rs. 2 lakhs.
Looking to the hard realities, practical problems of traders in respect of payments for the purchases for business, there was need to increase threshold limit of Rs. 20000/- instead it is proposed to be Rs. 10000/- w.e.f. from 1.4.2017(effective date i.e. from the start of the FY 2017-18).
