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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
While thinking for the entertainment now the question arises, which field is out from the service tax net? For the entertainment or enjoyment what a person thinks to do, whether it is eating outside with family, going to amusement parks, traveling outside for holiday, going to enjoy any artistic performance or any other things, all the sources are now under the service tax net and it seems that government has put the taxes on the sources of smile of a person.
Advocate Anandaday Misshra Unutilised Credit of CESS Q 1 What will be the fate of credit of Education Cess and Secondary and Higher Education Cess lying unutilized after it being subsumed in basic excise duty ? Answer : Firstly , it will not lapse since no lapsing provision is existing as on date for the same. Secondly , I […]
Rationalising the provisions of section 115JB The existing provisions contained in section 115JB of the Act provide that in the case of a company, if the tax payable on the total income as computed under the Act in respect of any previous year relevant to the assessment year commencing on or after the 1st day […]
Union Budget 2015 introduced several changes under Service Tax, particularly with regard to changes in exemptions, rationalising penal provisions, simplifying procedural aspects, clarifying disputed areas, Reverse charge, etc. This article highlights the important changes under Reverse charge mechanism.
Rates of Income Tax- No change in the basic exemption limit and the tax rates for individuals. Corporate tax rates proposed to be reduced from 30% to 25% over the next four years, starting from next financial year. For FY 2015-16, it is 30% same as last year. Additional surcharge @ 2% being levied on income exceeding Rs. 1 crore. This surcharge would be levied in place of Wealth-tax which is proposed to be abolished.
Download PPT in PDF format on Amendment in Direct and Indirect taxes proposed by Finance Bill 2015. Download PPT by Heads up team on Budget 2015
A. CHANGES APPLICABLE WEF 1ST MARCH 2015 1. Services provided to Exporter by Agent Located outside India-Exemption on the services provided by Commission Agent located outside India to an exporter located in India through Notification 42/2012 dated 29/06/2012 is being rescinded. This exemption has become redundant on account of amendments made in the Place of […]
Article Covers Amendment in Central Excise Duty Provisions vide Budget 2015-16 as presented by Union Finance Minister Mr. Arun Jaitley on 28.02.2015. It covers the changes
Recently, Our Finance Minister, Arun Jaitley has increased the rate of excise duty from 12.36% (Including Education Cess and SHE Cess) to 12.5% (without any Education Cess and SHE Cess) for most of the products. In addition to this, amendments have also been made in the exemption notification no. 12/2012-CE dated 17.03.2012.
Krishna, Honorable Finance Minister Mr. Arun Jetley has declared the Budget before Holi on 28th February. Everyone’s favorite festival Holi is approaching. Holi will be celebrated both by sprinkling colours and by teasing friends, similarly, the Budget has got some good and some bad comments at its different levels. Let’s discuss the knowledgeable and interesting topic of Holi of Budget or Budget of Holi.
