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Budget

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Changes in Capital Gains Taxation: Budget 2024 Amendments

Income Tax : Explore the significant changes in capital gains taxation proposed in Budget 2024, including revised tax rates, holding periods, a...

August 14, 2024 15414 Views 3 comments Print

TDS under Section 194T of Income Tax Act, 1961

Income Tax : Learn about Section 194T introduced in Finance Bill 2024, covering TDS on payments to partners, its implications, and potential c...

August 13, 2024 16872 Views 0 comment Print

Budget 2024 Amendments: Key Changes in Trust Provisions

Income Tax : Budget 2024 introduces significant amendments in trust-related provisions under the Income Tax Act, including registration timelin...

August 13, 2024 3597 Views 0 comment Print

Intricacies of Taxation of Income from Mutual Funds

Income Tax : Explore the latest tax provisions affecting mutual fund income, including recent changes in capital gains taxation and classificat...

August 13, 2024 1458 Views 0 comment Print

Income Tax impact on buy back of shares due to changes in Finance Bill, 2024

Company Law : Tax implications of the Finance Bill 2024 on share buybacks. Key changes, examples, and their impact on shareholders' tax liabilit...

August 13, 2024 1836 Views 2 comments Print


Latest News


Proposed Amendments to Finance (No. 2) Bill, 2024: Key Changes

Income Tax : Key amendments to the Finance (No.2) Bill, 2024, include changes in tax rates, capital gains, customs duties, and excise laws, eff...

August 8, 2024 16935 Views 0 comment Print

ICAI President’s August 2024 Message: Exam Results & Economic Insights

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...

August 2, 2024 288 Views 0 comment Print

Budget 2024: Key Changes in GST and Customs

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...

July 30, 2024 1662 Views 0 comment Print

Amendment to Section 55: Clarifying Cost of Acquisition for Equity Shares

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 ...

July 27, 2024 4110 Views 0 comment Print

Budget 2024: Extended Lower TDS Deduction/ TCS Collection Scope

Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...

July 26, 2024 2511 Views 0 comment Print


Latest Judiciary


Key GST Amendments in Finance Bill 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...

July 26, 2024 4212 Views 0 comment Print

Plea in Madras HC on Penalty on CAs for Filing Wrong Information- Section 271J

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...

May 9, 2017 4935 Views 2 comments Print

In all cases where additional evidence is admitted, the CIT (A) should be considered to have exercised his powers u/s 250(4) is not acceptable

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 ...

March 18, 2012 2282 Views 0 comment Print


Latest Notifications


Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 2841 Views 0 comment Print

GST: Govt notifies section 11 to 13 of Finance Act (No. 8) 2024

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...

August 6, 2024 1626 Views 0 comment Print

Customs Tariff Amendment Rules 2024: CVD & Injury Determination

Custom Duty : Notification No. 51/2024-Customs (N.T.) introduces New Shippers Review in countervailing duty rules, effective from 24th July 2024...

July 23, 2024 375 Views 0 comment Print

Notification No. 39/2024-Customs Extends Re-import Period

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...

July 23, 2024 564 Views 0 comment Print

CBIC amends 32 Custom duty notifications to extend their validity

Custom Duty : Government of India amends 32 Customs notifications and extends the re-export period for certain foreign-origin goods under Notifi...

July 23, 2024 360 Views 0 comment Print


6% excise duty on branded readymade garments & made ups of cotton, not containing any other textile materials -Reg.

March 1, 2013 3174 Views 0 comment Print

it is hereby clarified that goods of cotton, not containing any other textile material, shall include goods made from fabrics of cotton, not containing any other textile material, even if they contain sewing threads, cords, labels, elastic tapes, zip fasteners and similar items used for stitching, fastening, holding or adornment, of materials other than cotton.

Notification No.7/2013-Central Excise; dated: 01.03.2013

March 1, 2013 1068 Views 0 comment Print

Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the excisable goods of the description specified in column (2) of the Table below and falling within the tariff item of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), from so much of the duty of excise specified thereon under the said First Schedule, as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table, namely:-

1% excise duty on Mobile handsets including Cellular phones -Reg

March 1, 2013 406 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance

Increase in compound levy rate of duty for Stainless pattis/pattas – Reg

March 1, 2013 992 Views 0 comment Print

In exercise of the powers conferred by Rule 15 of the Central Excise Rules 2002, the Central Government hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 17/2007-Central Excise, dated the 1st March, 2007

Seeks to notify ‘the resident public limited company’ as a class of persons U/s. 23A(c)(iii) of Central Excise Act, 1944

March 1, 2013 433 Views 0 comment Print

In exercise of the powers conferred by sub-clause (iii) of clause (c) of section 23A of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby specifies the resident public limited company as class of persons for the purposes of the said clause.

Notification No. 25/2013-Customs (N.T.), Dated 1st March, 2013

March 1, 2013 637 Views 0 comment Print

in Appendix F, in the column relating to Articles allowed free of duty, in item (a), for the words jewellery upto ten thousand rupees by a gentleman passenger or rupees twenty thousand by a lady passenger the words jewellery upto fifty thousand rupees by a gentleman passenger or one lakh rupees by a lady passenger shall be substituted.

Notification No.15/2013-Customs – Dated –1st March, 2013

March 1, 2013 1417 Views 0 comment Print

(i) after serial number 9 and the entries relating thereto, the following serial number and the entries shall be inserted, (ii) against serial number 12, in column (4), for the entry 10%, the entry Nil shall be substituted; (iii) after serial number 24 and the entries relating thereto, the following serial number and the entries shall be inserted

Notification No. 14/2013-Customs – Dated 1st March, 2013

March 1, 2013 418 Views 0 comment Print

The principal notification No.146/1994-Customs, dated the 13th July, 1994 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 575(E), dated the 13th July, 1994 and last amended

Notification No. 13/2013-Customs – Dated – 1st March, 2013

March 1, 2013 526 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sub-section (1) of section 3 of the Customs Tariff Act,1975 (51 of 1975), the Central Government, being satisfied that it is necessary in

Notification No. 12/2013-Customs – New Delhi, the 1st March, 2013

March 1, 2013 3108 Views 0 comment Print

(40) Conveyor system including conveyors for heat setting, cold setting, drying and reactivating and sterilizing of footwear with or without vacuum

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