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...
ICAI has suggested to the government in its pre-budget memorandum that no targets should be set by the Department for collection of taxes. In fact, internal mechanism is to be developed to ensure adherence of the timelines mentioned in the Citizens charter of the Department with regard to performance of services and adherence to the timelines should be made as a part of performance appraisal of the concerned.
The taxpayers should be given due respect and be treated as a client. In fact there should be a system where the taxpayer paying tax, beyond a certain limit, is provided priority services. Like the taxpayer contributing tax more than 25 Lakhs may be issued a Gold card, like wise taxpayers contributing more than 1 crore may be issued a Platinum card.
Minimum salary limit for Profession Tax increased from Rs. 5000 to Rs. 7500. Turnover limit for registration under VAT increased from Rs. 5 lakhs to Rs. 10 lakhs. Tax Rate on Cotton reduced from 5 percent to 2 percent. Sugarcane Purchase Tax exempted for 20 13-14. Turnover limit for filing audit report increased from Rs.60 lakhs to Rs.1 crore.
Arun Jaitley to hold pre-budget consultations from tomorrow Pre-Budget consultations will kick off from today. In this exercise, Finance Minister Arun Jaitley will hold meeting with different stakeholders including, representatives of industry chambers, trade unions, financial services sector and state finance ministers to get sector-specific suggestions for the Budget. Today, Mr. Jaitley will hold meeting […]
The Government could ideally declare as policy that retrospective action shall not be resorted to, save in rarest of cases, but never for creating a fresh onus or liability for a previous period. In fairness, retrospective change if needed must invariably favour the taxpayer.
CA Sandeep Kanoi Union Finance Minister Arun Jaitley is expected to present his budget either in last week of June 2014 or in First week of July 2014. With Budget around the corner the Taxpayers are very enthused about expected tax reliefs from Mr. Arun Jaitley and started thinking that good days are around the […]
We are attaching Amendments made by Finance Act 2013 authored by CS K. K. Agrawal with solved practical questions which is extremely useful for students who are appearing for for CA, CS, CMA exam May / June 2014 attempt.
Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was already approved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha. Download Finance Bill 2014 as approved by the President
For a long time, getting a handle on finances was a major undertaking. If you’re not a natural budget planner, keeping the books straight can be a constant struggle for both people and businesses. With modern software, however, any person or business can find a program that makes them a finance pro.
Lok Sabha on Wednesday 19.02.2014 passed the Interim Budget for the financial year 2014-15 without any significant discussion. Finance Minister P Chidambaram introduced the Appropriation Bill and the Finance Bill amid din in the House by a voice vote.
