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...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
The much awaited Union Budget for the year 2014-15 is presented today by the Finance Minister, Mr Arun Jaitely in the Parliament. Though there is no change in the general rate of Excise Duty or Service tax, significant legislative changes have been made in the Section 35 F of the Central Excise Act, Section 83 of the Finance Act and in Section 129E of the Customs Act, which proposes a statutory pre-deposit of Duty demanded, instead of filing a separate stay petition.
Union Budget – Direct tax proposals – an Individual Point of view – 1. Increase of Basic exemption limit: Major expectation of increase in basic exemption limit has been given in the budget; the limit has been increased from Rs.2 lakhs to Rs. 2.50 lakhs for individuals except senior citizens and for senior citizens between 60 to 80 years has been increased from Rs. 2.50 lakhs to Rs. 3 lakhs. The revised income tax slabs are given below the table
CA Bikash Bogi BULLET POINT SUMMARY of Direct Tax Provisions INDIVIDUALS / HUF / AOP / BOI No change in income tax rates. Income Tax Exemption limit increased to Rs. 2.5 Lakh from Rs. 2 lakh. For Senior citizens exemption limit increased to Rs. 3 lakh. Deduction u/s 80C increased to Rs. 1.5 lakh from […]
CA Gaurav Mittal KEY HIGHLIGHTS 1) Fiscal Deficit targeted at 4.1% for 2014-15 and to bring it to 3% by 2016-17. 2) GST to be introduced by the year end. 3) No retrospective amendments by this Government. 4) A new committee under CBDT to study cases pending because of retrospective amendments. 5) FDI on Defense […]
PM on Union Budget This is a Budget that converts hopes and aspirations of the people into trust; new ray of hope for the poor and downtrodden The Budget will give an impetus to Jan Bhagidari (people’s participation) and Jan Shakti (people’s power) We are going in the right direction to overcome challenges faced in […]
(a) private limited company shall have the same meaning as is assigned to private company in clause (68) of section 2 of the Companies Act, 2013 (18 of 2013); (b) resident shall have the same meaning as is assigned to it in clause (42) of section 2 read with sub-section (3) of section 6 of the Income-tax Act, 1961 (43 of 1961).
Budget 2014- Changes in Place of Provision of Services Rules, 2012 Vide Notification No. 14/2014-ST Dated 11-7-2014 (Effective From 1-10-2014).
(a) if payment is made within a period of six months of the date of invoice, be the date on which payment is made; (b) if payment is not made within a period of six months of the date of invoice, be determined as if rule 7 and this rule do not exist.
18 per cent. for the first six months of delay; 24 per cent. for the period beyond six months up to one year and 30 per cent. for any delay beyond one year.
G.S.R. 480(E).- In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act,1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax (Determination of Value) Rules, 2006
