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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Your attention is invited to provisions of sub-section (2) of section 11 of the Central Excise Act, 1944. Central Excise Officers are empowered under this provision to issue an order to any other person from whom money is due to such person from whom recovery of arrears is required to be made. Such notice for recovery to the other person is generally referred as Garnishee Notice. Similar provisions are contained in section 142(1)(d) of the Customs Act, 1962 and section 87(b) of the Finance Act, 1994 .
Wiping Every Tear from Every Eye: The Jan Dhan Yojana, Aadhaar and Mobile Numbers Provide the Solution Both the Central and State Government subsidize the price of wide range of products with the expressed intention of making them affordable for the poor. Rice, wheat, pulses, sugar kerosene, LPG, naptha, water, electricity, diesel, fertilizer, iron ore, […]
In the short run, growth will receive a boost from the cumulative impact of reforms, lower oil prices, likely monetary policy easing facilitated by lower inflation and improved inflationary expectations, and forecasts of a normal monsoon in 2015-16. Using the new estimate for 2014-15 as the base, GDP growth at constant market prices is expected to accelerate to between 8.1 and 8.5 percent in 2015-16.
The much awaited railway budget that directly focuses on Aam Aadmi of rural as well as urban India and is the main source of commuting in India ,is out today. Mr. Suresh Prabhu has put forward a different kind of a budget and has not declared any hopes of running new trains on any sector […]
Speech of Shri Suresh Prabhakar Prabhu introducing the Railway Budget for 2015-16 on 26th of February, 2015 Madam Speaker, 1. I rise to present before this August House the Statement of Estimated Receipts and Expenditure for 2015-16 for Indian Railways. 2. At the outset, let me thank the Hon’ble Prime Minister, Shri Narendra Modi ji, […]
Aaj ka railway budget.. From the mind and mouth of a CA indeed! PASSENGERS to be called CONSUMERS This certainly catches the ears ! Certain points being put forward by him, remind me of certain points to be included in Annual Reports of companies. Premier points put forward by CA Suresh Prabhu Energy Conservation, Technology […]
CA Umesh Sharma Arjuna (Fictional Character): Krishna, Honorable Finance Minister Mr. Arun Jetley will be declaring the Finance Budget of 2015-16 on 28th February in the Loksabha. Everyone is excited for the Budget. But Krishna, it is said that everyone must live within their own budget, why so? Krishna (Fictional Character): Arjuna, in simple language, […]
1. Tax Slabs should be revised as per the DTC Bill Provisions The Parliamentary Standing Committee on Finance (PSC) in its Report on the Direct Taxes Code Bill 2010 (DTC Bill) has appropriately recommended the following revised tax slabs for individual taxpayers. 0-3 Lakh – Nil 3-10 Lakh- 10% 10-20 Lakh – 20% Beyond 20 Lakh – […]
All Party Meet for mutual consultations on Budget Session of Parliament on February 22 Session to open with President’s Address to members of both the Houses 44 items of Government Business on the agenda for Budget Session The Government will discuss with leaders of various parties the financial, legislative and other business to be taken […]
After the Lok Sabha General Elections in 2014, Bharatiya Janta Party (BJP) led by Shri Shri Narendra Modi formed the Government at the Centre in May 2014. Shri Arun Jaitley took over the charge as the Finance Minister in the new Government. He presented his First Budget in Parliament on 10th July, 2014. This will be his second Budget as the Union Finance Minister.
