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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Full exemption from levy of Special Additional Duty of Customs has been provided to Ships; Aircrafts imported by non-scheduled operators and specified parts of personal computers viz., Microprocessor for computer, other than motherboards, Floppy disc drive, Hard disc drive, CD-ROM drive, DVD Drive/DVD Writers, Flash memory and Combo drive. The exemption on parts of personal computers is subject to actual user condition.
Amendment of section 40A – (i) New clause 7A of the Finance Bill,2011 7A. In section 40A of the Income Tax Act, in sub-section (9), after the words, brackets and figures “under clause (iv)”, the words, brackets, figures and letter “or clause (iva)” shall be inserted with effect from the 1st day of April, 2012. (ii) Amended section 40A(9).
Highlights Of The Budget Presented By Deputy Chief Minister Shri Ajit Pawar, On Wednesday, 23rd March 2011. PART-I + Remarkable growth in revenues of the State • 2009-10 Revenue Receipts Rs.86,910 crore, 2010-11 Revenue Receipts Rs. 1,07,159 crore
The Union Finance Minister also announced the basic reduction of custom duty on raw silk (not thrown) from 30 per cent to 5 per cent ad valorem. This was done to augment domestic availability for weavers, both in the handloom and the power loom segments, Shri Mukherjee added. The Finance Minister said that a number of representations supporting and opposing this move have been received. Responding to them, the Finance Minister said that he would like to assure the House that the Government would keep a close watch on import volumes and domestic prices and respond, if required, to mitigate any adverse impact on the domestic sericulture sector.
LIST NO.1- LOK SABHA FINANCE BILL, 2011 (As Introduced in Lok Sabha) Notice of Amendments Dated: March 21, 2011. Amendment of section 40A- insert ‘ 7A In section 40A of the Income tax Act, in sub-section (9), after the words, brackets and figures under clause (iv), the words, brackets, figures and letter or clause (iva) shall be inserted with effect from the 1st day of April, 2012.’.
The Institute of Chartered Accountants of India organized a Workshop on Indirect Proposals of the Union Budget 2011-12 at its Headquarter in New Delhi on March 17,2011. The Workshop was addressed by Shri S. Dutt Majumder, Chairman, Central Board of Excise and Customs. Shri Y.G. Parande, Member, CBEC, Shri V. K. Garg, Joint Secretary (TRU), CBEC and Shri Roopam Kapoor, Officer on Special Duty, CBEC were also participated in the Workshop and interacted with the members and experts of the field of indirect taxes.
The Union Budget 2011-2012 is likely to be more beneficial for the special and underdeveloped states, including J&K, Himachal Pradesh and Bihar, rating agency Fitch said on Wednesday.”The Union budget 2011-2012 is a credit positive for special-category states, who receive a larger share of their revenues from the central government. Underdeveloped states are benefited from higher allocation to Backward Region Grant Fund in FY12,” Fitch Ratings Director Devendra Kumar Pant said.
Consequent upon the printing and publishing of the Budget Bulletins, 2011 (both Customs and Central Excise & Service Tax), the Directorate of Publicity and Public Relations has subsequently been informed that the following corrections are required to be incorporated in the above said Budget Bulletins, 2011.
Hitting out at the Finance Minister for increasing export duty on iron ore, the Federation of Indian Mineral Industries has written to Pranab Mukherjee requesting a roll back to the pre-Budget level. “We would be grateful if you consider sympathetically rolling back the increase in export duty to pre-Budget 2011-12 level,” FIMI Secretary General R K Sharma wrote in a letter to the Finance Minister.
The Textiles Ministry is seeking rollback of excise duty on branded apparel, following protest from retailers, including Shoppers Stop and Pantaloons , who have gone on strike today protesting the new levy.
