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...
Extension of date of sanction of loan for affordable residential house property under Union Budget 2021 The existing provision of the section 80EEA of the Act, inter alia, provides a deduction in respect of interest on loan taken for a residential house property from any financial institution up to one lakh fifty-thousand rupees subject to […]
Facilitating strategic disinvestment of public sector company Union Budget 2021 Section 2 of the Act provides the definitions for the purposes of the Act. Clause (19AA) of the said section defines that ―demerger, in relation to companies, means the transfer, pursuant to a scheme of arrangement under sections 391 to 394 of the Companies Act, […]
Tax neutral conversion of Urban Cooperative Bank into Banking Company Section 44DB of Act provides for computing deductions in the case of business re-organization of cooperative banks. Further, the said section, inter alia, provides that where such business reorganization of co-operative banks takes place, the deductions under sections 32, 35D, 35DD and section 35DDA will […]
Issuance of zero coupon bond by infrastructure debt fund Union Budget 2021 Clause (48) of section 2 of the Act provides for definition of zero coupon bond, as a bond issued by any infrastructure capital company or infrastructure capital fund or public sector company or scheduled bank and in respect of which no payment and […]
Tax incentives for units located in International Financial Services Centre (IFSC) under Union Budget 2021 Government has establishment a world class financial services centre. Units located in IFSC enjoy some concession. In order to make location in IFSC more attractive, it is proposed to provide the following additional incentives: (i) It is proposed to amend […]
It is proposed to insert sub-section (1A) in the said section so as to provide for hundred per cent. deductions of the profits and gains derived from the business of developing and building affordable rental housing project.
Under the existing provisions of the Act, clause (5) of section 10 of the Act provides for exemption in respect of the value of travel concession or assistance received by or due to an employee from his employer or former employer for himself and his family, in connection with his proceeding on leave to any […]
The provisions of Finance Bill, 2021, relating to direct taxes seek to amend the Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Finance (No 2) Act, 2004 and Finance Act, 2016 and the Direct Tax Vivad se Vishwas Act, 2020 to continue reforms in direct tax system through tax-incentives, removing difficulties faced by taxpayers and rationalization of various provisions.
The Finance Minister has introduced the Finance Bill, 2021 in Lok Sabha today, that is 1St February, 2021. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2021. To prescribe effectives rates of duty, following notifications are being issued:
Budget 2021- Seeks to amend notification Nos. 10/2018-Central Excise, 11/2018-Central Excise, 12/2018-Central Excise and 13/2018-Central Excise, all dated 02.02.2018, to add the reference of Agriculture Infrastructure and Development Cess in the appropriate duty of excise. Notification No. 07/2021-Central Excise Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 07/2021-Central […]
