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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Personal Income Tax (For Individual, HUF, AOP (other than co-operative) BOI and AJP Currently Tax will be nil up to Income ₹ 5 lakh in both regime (old and new), in proposed scheme this limit increase up to ₹ 7 lakh in the new tax regime. It means that in old regime limit of ₹ […]
Article contains Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023 and Explanatory Memorandum to Notification No. 05/2023-Central Excise, dated the 1st February, 2023 which are notified to give effect to changes proposed by Union Finance Budget 2023-24. Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023: […]
Introduction The Indian Union Budget 2023, which is the annual financial statement of the Government of India, was presented by Finance Minister Nirmala Sitharaman on 1 February 2023. This year’s budget has witnessed a significant shift in focus, as the Union Government has made substantial investments to stimulate the economy, improve access to education and […]
Learn about the recent amendments made in the CGST & IGST Act 2017 by the Finance Bill 2023. Stay updated with the changes in tax legislation.
Budget 2023: Seeks to amend 32 notifications in order to provide a specific end date for these notifications vide Notification No. 12/2023-Customs Dated: 1st February, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 12/2023-Customs | Dated: 1st February, 2023 G.S.R. 77(E). – In exercise of the powers conferred by sub-section (1) […]
Budget 2023: CBIC extends validity of following 3 notifications till up to the 31st March, 2028 vide Notification No. 11/2023-Customs Dated: 1st February, 2023 Notification No. 90/2009- Customs, dated 7th September, 2009 (Exemption to imports from Antarctica of goods used for or related to Indian Antarctic Expedition or Indian Polar Science Programme), Notification No. 33/2017- […]
Budget 2023: Seeks to further amend notification No. 146/94-Customs, dated the 13th July, 1994 to extend the exemption benefit to Warm blood horse for equestrian sports and extend the validity of said notification up to the 31st March, 2028 vide Notification No. 10/2023-Customs Dated: 1st February, 2023 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF […]
Budget 2023: Seeks to further amend notification No. 57/2000-Customs which exempts gold, silver and platinum imported under specified schemes vide Notification No. 09/2023-Customs dated: 1st February, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 09/2023-Customs | dated: 1st February, 2023 G.S.R. 74(E).– In exercise of the powers conferred by […]
Budget 2023: Seeks to further amend notification No.22/2022-Customs regarding India-UAE Comprehensive Economic Partnership Agreement vide Notification No. 08/2023-Customs Dated: 1st February, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 08/2023-Customs | Dated: 1st February, 2023 G.S.R. 73(E).– In exercise of the powers conferred by sub-section (1) of section 25 of the […]
Budget 2023: Seeks to further amend notification No. 230/86-Customs by Project Import Regulations, 2023 notified vide Notification No. 07/2023-Customs Dated: 1st February, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NEW DELHI Notification No. 07/2023-Customs | Dated: 1st February, 2023 G.S.R 72(E).- In exercise of the powers conferred by section 157 of the […]
