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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
137 Additional Sub-Urban Services for Mumbai,Chennai & Kolkata -Minister for Railways Shri Dinesh Trivedi said with a view to further enhancing the carrying capacity of suburban services additional services are being introduced in Mumbai, Chennai and Kolkata. These include 75 new services in Mumbai, 18 in Chennai and 44 in Kolkata area.
The allocation under passenger amenities in this year’s Railway Budget has been raised to Rs. 1102 crore. The allocation under this head in 2011-12 was Rs. 762 crore. Some of the important passenger and other user friendly measures introduced or being proposed during 2012-13 are:
Proposed Increase not Enough to Cover Impact of Fuel Price Rise in 8 Years Railway Minister Shri Dinesh Trivedi has announced minor increase in fares so as to cause minimal impact on the common man and to keep the burden within tolerance limits in general. He has proposed only 2 paise per km extra for […]
75 New Express Trains, 21 new Passenger Services, 9 DEMU and 8 MEMU services. 137 Services New Sub-Urban Services to Come up in Mumbai, Chennai & Kolkata . 725 km New Lines to be Introduced
assenger fares increased marginally. The increase will be by 2 paise per km for suburban and ordinary second class; 3 paise per km for mail/express second class; 5 paise per km for sleeper class; 10 paise per km for AC Chair Car, AC 3 tier and First Class; 15 paise per km for AC 2 tier and 30 paise per km for AC I.
The Budget Session, 2012 of Parliament (10th Session of the Fifteenth Lok Sabha and the 225th Session of the Rajya Sabha) commenced today, the 12th of March, 2012 and subject to exigencies of Government Business, the Session will conclude on Tuesday, the 22nd of May, 2012. During this period, the two Houses will adjourn for recess on Friday, the 30th of March 2012, to reassemble on Tuesday, the 24th of April, 2012 to enable the Department–related Parliamentary Standing Committees to examine the Demands for Grants relating to various Ministries/Departments and make their reports to the Houses. The Session will provide 35 sittings – 15 sittings during first part of the Session before recess and 20 sittings during second part of the Session.
Increase in the Basic Income Tax Exemption Limits for Individuals – To compensate partially for rising inflation it would be right move if govt. increases basic exemption limit from the current Rs. 180,000 to Rs. 3,00,000/-. The education cess of 3% is expected to be abolished. Similarly, the basic exemption limits for women and senior citizens may also be correspondingly increased.
Key recommendations of the Parliament Standing Committee on Finance Raise annual income limit for I-T from Rs 1.8 lakh to Rs 3 lakh. 10% I-T on annual income beyond Rs 3 lakh and up to Rs 10 lakh. 20% on annual income beyond Rs 10 lakh and up to Rs 20 lakh. 30% on annual income over Rs 20 lakh
The Union Budget 2012-13 date is out. Finance Minister Pranab Mukherjee will address Parliament on March 16, a minister said on Tuesday. Parliamentary affairs minister Pawan Kumar Bansal said the Budget session of Parliament will start on March 12, with the Railway Budget slated to be presented on March 14.
A Parliamentary panel scrutinising the Direct Taxes Code – DTC Bill has suggested raising the income tax exemption limit to 3 lakh rupees from the present 1.8 lakhs. It has also suggested hiking of deduction on savings to 2.5 lakh rupees.
