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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Clarifying the misconception: No tax exemption of Rs. 7,00,000 under New Tax Regime for FY 2022-23. Understand the correct slabs, deductions, and tax implications for the financial year.
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 31st March, 2023 / Chaitra 10, 1945 (Saka) The following Act of Parliament received the assent of the President on the 31st March, 2023 and is hereby published for general information:— THE FINANCE ACT, 2023 No. 8 OF 2023 [31st March, 2023.] An Act to […]
Explore the amendments to Section 115BAC by the Finance Act, 2023. Get insights into the rebate for individuals opting for the new tax scheme and changes in maximum exemption limits, deductions, surcharge rates, and tax slabs. Stay informed for A.Y. 2024-25 and beyond.
Discover the disparities in the treatment of Old Tax Regime (OTR) followers in the Finance Bill 2023, as the Government encourages the New Tax Regime (NTR) with changes in exemptions, rates, and deductions, raising concerns for those sticking to OTR.
Taxation of Debt Mutual Funds has been a topic of discussion for the past few days, with several amendments being made to the rules and regulations surrounding it.
Explore the concept of Marginal Relief under the New Tax Regime from FY 2023-24 onwards. Section 115BAC allows taxpayers the option to choose between lower tax rates with certain exemptions and deductions forfeited or continue paying taxes at existing rates. The income tax slab rates for FY 2022-23 and the list of exemptions and deductions not allowed under the new regime are provided.
AS PASSED BY LOK SABHA ON 24.03.2023 Bill No. 17-C of 2023 THE FINANCE BILL, 2023 A BILL to give effect to the financial proposals of the Central Government for the financial year 2023-2024. BE it enacted by Parliament in the Seventy-fourth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY 1. Short […]
List No. 1* LOK SABHA THE FINANCE BILL, 2023 (As introduced in Lok Sabha) Notice of Amendments *The President has in pursuance of clauses (1) and (3) of article 117 and clause (1) of article 274 of the Constitution recommended to Lok Sabha the moving of the amendments. Sl. No. Name of Member and text […]
Discover the key features of the Government of Tamil Nadu Budget 2023-24, covering grants, infrastructure projects, welfare schemes, and financial allocations for various sectors, contributing to the state’s development and progress.
To assure on-time payments, the stated clause would have been inserted as a Socio-Economic Welfare Measure and has been realized through the Micro and small companies. Section 43B of the Act furnishes for specific deductions to be permitted on real payments only rather than on an accrual basis.
