Budget - Page 4

Insolvency and Bankruptcy Code– brighter days post budget?

As of June 2016, the total amount of gross non-performing Assets (NPAs) for public and private sector banks amounted to approximately ₹6 lakh crore. The economy remained clogged with the whopping amount of NPAs due to lack of any effective mechanism to deal with the same. ...

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Posted Under: Income Tax |

Tax on Sale of Listed Equity Shares as per unit Budget 2018

Let’s understand the tax ability of listed equity shares with a flow chart (assuming STT has been paid on purchase & sale of shares in a recognized stock exchange)...

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Posted Under: Income Tax |

Another one bites the dust!! Finance Bill 2018 proposes to nullify yet some more important judicial precedents!!

In the year 2012, the then Government had introduced retrospective amendments to the Indian Income- tax Act in order to nullify the decision rendered by the Apex Court in the case of Vodafone International Holdings B.V. vs Union of India with regard to taxation of indirect transfer of shares....

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Posted Under: Income Tax |

Special Attention on Health of Senior citizen in Union Budget!

Arjuna, In this year, main focus was on Direct taxes rather than indirect taxes. The government has suggested certain changes in the income tax rate and deductions from the total income. In this budget, the government has focused on deduction provisions in case of senior citizen....

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Posted Under: Income Tax |

PPT : An overview of Finance Bill, 2018 – Direct Taxes

A. Rates of Income-tax- Brief Impact: A. Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person. I. The rate of income tax is proposed to be same. Tax slab and rates remain unchanged....

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Posted Under: Income Tax |

Budget 2018: FM Proposes 100% deduction to Farmer Producer Companies

Government is always committed to the welfare of farmers and the emphasis is on generating higher income for farmers. Government has promoted organic farming in a big way. ...

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Posted Under: Income Tax |

You can still Save LTCG on equity by effective Planning

Since the time the FM has announced 10% Long Term Capital Gains (LTCG) without indexation benefit on Equity investments, there is continuous debate and discussion on the same. You must have read multiple articles on how the LTCG will be determined, the rules, grandfathering provision and so on....

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Posted Under: Income Tax |

Micro Analysis of Union Budget 18

It was largely expected before the budget that Exemption limit would be increased this time in the budget. This thought process was in line of the implementation of GST as somehow collection to the Government has been increased and a formal organised system has been implemented of Taxation through implementation of GST....

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Posted Under: Income Tax |

LTCG on sell of shares on or after 1st April 2018

The Budget proposes that LTCG tax will have to be paid on profit booked after March 31. Sale of shares made till March, the existing law will apply and LTCG will not be applicable. So if you sell before March 31 a stock that has been held for more than a year, you do not have to pay tax. However, if you sell it on or after April 1, LTCG t...

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Posted Under: Income Tax |

Reconciliation of each payment made by deductor to avoid duplication of work of TDS return

In order to make the process of claim of TDS error free, a system was devised some years ago in 2009 and published vide circular no 2/2009, dated 21.05.2009. The relevant excerpt from the said circular is as follows:...

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Posted Under: Income Tax
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