Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...
Income Tax : Explore India's Budget 2024 expectations and projections, including potential tax relief, increased healthcare and education spend...
Income Tax : Explore the key expectations for Budget 2024, including potential tax reliefs, increased deductions, and economic growth strategie...
Income Tax : Explore rationale behind rationalizing income tax rates in India, its impact on compliance, and potential benefits for taxpayers. ...
Income Tax : Explore the comprehensive Pre Budget Memorandum 2024-25 addressing crucial aspects like tax base expansion, avoidance mitigation, ...
Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...
Goods and Services Tax : Explore Rajasthan Budget 2024-25 tax proposals with reductions in VAT rates, abolition of certain taxes, and new incentives. Detai...
CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Explore comprehensive suggestions for Union Budget 2024-25 in direct tax domain, addressing key reforms and their potential impact...
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 : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...
Income Tax : On February 15, 2024, President Droupadi Murmu granted his assent to the Finance Act 2024 (Budget 2024), officially bringing the g...
Income Tax : Explore the details of F. No. 375/02/2023 - IT-Budget by the Ministry of Finance. Learn about the remission of outstanding tax dem...
Custom Duty : Explore the impact of Budget 2024-25 updates by the Office of the Pr. Commissioner of Customs. Learn about changes, timelines, and...
Income Tax : The Finance Bill, 2024, also known as Bill No. 14 of 2024, is a legislative proposal introduced in the Lok Sabha, the lower hous...
Union Budget 2021 proposed to relax Section 234C interest on Dividend income along with capital gains if shortfall in the advance tax payments and tax due has been paid in the subsequent advance tax instalments. Advance tax instalment for dividend income, Capital Gain etc. Section 234C of the Act provides for payment of interest by […]
It is proposed to increase the threshold limit for Tax Audit Under section 44AB from five crore rupees to ten crore rupees in cases listed above.
Changes Proposed In Goods And Services Tax – Union Budget-2021-22 The Finance Bill 2021, have proposed certain changes in CGST Act, 2017 & IGST Act, 2017 in order to curb input credit frauds and safeguard Government revenues. The amendments carried out in the Finance Bill, 2021 will come into effect from the date when the […]
Rationalisation of the provision of presumptive taxation for professionals under section 44ADA Section 44ADA of the Act relates to special provision for computing profits and gains of profession on presumptive basis. Sub-section (1) of the said section provides that notwithstanding anything contained in sections 28 to 43C, in case of an assessee, being a resident […]
The Act currently does not define the term ‘liable to tax’ though this term is used in section 6, in clause (23FE) of section 10 and various agreements entered into under section 90 or section 90A of the Act. Hence, it is proposed to insert clause (29A) to section 2 of the Act providing its […]
With the objective of reducing pending income tax litigation, generating timely revenue for the Government and giving benefit to taxpayers by providing them peace of mind, certainty and savings on account of time and resources, the Direct Tax Vivad se Vishwas Act, 2020 (VsV) was enacted on 17th March, 2020. The settlement provisions under the […]
Budget 2021- excess amount of tax, surcharge or penalty paid in pursuance of a declaration made under Income Declaration Scheme (IDS) shall be refundable to the specified class of persons without payment of any interest. The Income Declaration Scheme, 2016 (the Scheme) contained in Chapter-IX of the Finance Act, 2016 provided an opportunity to the […]
Chapter XVIIB of the Act relates to deduction of tax at source. The provisions of this chapter provide for TDS on various payments at rates contained therein. It is proposed to provide for TDS by person responsible for paying any sum to any resident for purchase of goods. The rate of TDS is kept very […]
Article explains Changes in Custom duty proposed/carried out by Union Budget 2021 and explains Amendment in the Custom Act, 1962, Amendments in Customs Tariff Act, 1975, Amendments In First Schedule To Customs Tariff Act, 1975, Changes In Customs Rules, Other Proposals Involving Changes In Basic Customs Duty Rates In Respective Notifications [with effect from 2.2.2021, […]
Article explains Changes in Excise duty proposed/carried out by Union Budget 2021 and explains Amendment in Fourth Schedule , Retrospective amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944, Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944, Imposition Of Agriculture Infrastructure And Development Cess […]
