Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allo...
Income Tax : Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism rema...
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...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Amidst expectation of this Budget to be the last Budget for present Indirect tax regime and July 1, 2017 marking GST advent, gist of the key anticipations which could be addressed are as follows:
CA Sharad Jain Introduction: The section 40(a)(ia) of the Income Tax Act (“Act”) was brought on the statute by the Finance (No. 2) Act, 2004, with effect from 1-4-2005 i.e., from Assessment Year 2005-06 with the aim to ensure better compliances of TDS provisions. Since inception, these provisions are being felt by the tax assesses […]
Finance Minister Mr. Arun Jetley will be declaring the Finance Budget of 2017-18 on 1st February in the Loksabha. Every citizen of this country is curiously waiting for the Budget. The Budget has to face the problems like Elections, Demonetarization of currency etc. while it is presented.
Government urged to to reduce customs duty on chilled and frozen seafood from present level of 30% to 10% to bring down food inflation and satiate high demand for seafood in India.
The budget 2017-18 is going to be unique in many aspects. For the very first time the Railway Budget will be merged with the General Union Budget. Also the Union Budget will be presented one month in advance on 1st February, 2017.
Government of India on Tuesday finally announced that Union Budget will now be presented on 1 February, in order to depart from old-era tradition of presenting Union Budget on last working day of February. The announcement has come a day before the beginning of the month-long Winter Session of Parliament, to be held from 16 November to 16 December.
In layman’s term, the union budget presents an estimate of revenue and expenditure of the country in the forthcoming financial year that begins on the 1st of April and ends on 31st March.
Making a strong appeal to different political parties to let the Union Budget for 2017-18 be presented to Parliament on February 1, the apex industry chamber ASSOCHAM today said the advancement to this effect would help the government to begin its capital and other expenditure right from April and revive the much needed economic growth.
The Central Government earmarked close to Rs 20 lakh crore on the expenditure head of the Budget for 2016-17. It would be safe to assume that for the financial year 2017-18, the total expenditure to be allocated by Finance Minister Mr Arun Jaitley would be between Rs 22 lakh crore and Rs 23 lakh crore. This would be about 14 per cent of India’s Gross Domestic Product at current prices.
Yes. Its that time of the year again when the common man, the salaried person looks out to what’s in store for them – concessions, rebates. The Union Budget for the next fiscal shall be announced early this year on February 1, 2017 and the common man awaits.
