Good Budget

Changes in Due date of Original, Revised, Belated & Defective Return

Income Tax - Budget 2021 proposes Extending of due date for filing return of income in some cases, reducing time to file belated return and to revise original return and also to remove difficulty in cases of defective returns Section 139 of the Act contains provisions in respect of the filing of return of income for different persons […]...

Read More

Section 234C interest relaxed on dividend income, Capital Gain

Income Tax - 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 [&hell...

Read More

Tax Audit Limit proposed to increase to ten crore rupees

Income Tax - 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....

Read More

TDS/TCS on non filer of income-tax return at higher rates

Income Tax - New section 206AB of the Income Tax Act is a special provision providing for higher rate for TDS for the non-filers of income-tax return. Similarly it is proposed to insert a section 206CCA in the Act as a special provision for providing for higher rate of TCS for non-filers of income-tax return....

Read More

Major Income Tax Changes Proposed in Union Budget, 2021

Income Tax - MAJOR INCOME TAX CHANGES PROPOSED IN UNION BUDGET, 2021 In this article we will take a look at all the major income tax changes proposed in Union Budget, 2021 presented by Hon’ble Finance Minister on 1st Feb, 2021. Direct Tax Proposals: 1. Relief to Senior Citizens from filing income tax return: In order to ease […]...

Read More

Income tax Rates for assessment year 2021-22

Income Tax - Rates of income-tax in respect of income liable to tax for the assessment year 2021-22 i.e. Financial Year 2020-21 In respect of income of all categories of assessee liable to tax for the assessment year 2021-22, the rates of income-tax have either been specified in specific sections (like section 115BAA or section 115BAB for domestic [&h...

Read More

Rail Budget 2016-No Hike in Passenger Fare, WIFI at 400 Stations

Income Tax - 65,000 Additional Berths and 17,000 Bio Toilets to be Installed. Operations Audit to Improve Punctuality of trains Proposed. Wi Fi Facilities in 400 more Stations. Stations to be Developed Under PPP Mode ...

Read More
Sorry No Post Found
Sorry No Post Found

Recent Posts in "Good Budget"

Changes in Due date of Original, Revised, Belated & Defective Return

Budget 2021 proposes Extending of due date for filing return of income in some cases, reducing time to file belated return and to revise original return and also to remove difficulty in cases of defective returns Section 139 of the Act contains provisions in respect of the filing of return of income for different persons […]...

Read More
Posted Under: Finance |

Section 234C interest relaxed on dividend income, Capital Gain

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 [&hell...

Read More
Posted Under: Finance |

Tax Audit Limit proposed to increase to ten crore rupees

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....

Read More
Posted Under: Finance |

TDS/TCS on non filer of income-tax return at higher rates

New section 206AB of the Income Tax Act is a special provision providing for higher rate for TDS for the non-filers of income-tax return. Similarly it is proposed to insert a section 206CCA in the Act as a special provision for providing for higher rate of TCS for non-filers of income-tax return....

Read More
Posted Under: Finance |

Major Income Tax Changes Proposed in Union Budget, 2021

MAJOR INCOME TAX CHANGES PROPOSED IN UNION BUDGET, 2021 In this article we will take a look at all the major income tax changes proposed in Union Budget, 2021 presented by Hon’ble Finance Minister on 1st Feb, 2021. Direct Tax Proposals: 1. Relief to Senior Citizens from filing income tax return: In order to ease […]...

Read More
Posted Under: Finance |

Tax on interest on EPF Contributing exceeding Rs 2.5 Lakh

The budget proposals affecting salaried employees contributing toward Employee Provident Funds The finance minister has proposed to partially tax the interest accrued on the provident fund account of employees. Let us discuss the provision. Present Provisions Presently, any payment received by an employee from his provident fund account i...

Read More
Posted Under: Finance |

Govt attempts taxation parity between mutual fund & ULIPS

The Finance minister has proposed amendments in the Income Tax Act in an attempt to make the taxation of money received from Unit Linked Insurance Policies (ULIP) of life insurance companies on par with equity mutual funds....

Read More
Posted Under: Finance |

Budget proposals affecting home buyers

The budget has two proposals which intend to extend the tax benefits available to home buyers. Extension of time limit for availing home loan interest deduction to buy a house An individual is entitled to , under Section 80EEA, claim deduction of interest upto Rs. 1.50 lakh for loan taken from financial institutions to buy […]...

Read More
Posted Under: Finance |

Relaxation for Small Companies & One Person Company

Relaxation for Small Companies and One Person Company as per Union Budget 2021 The Union Budget 2021 has proposed 2 major changes in companies Act First one is relaxes threshold for Small Companies and 2nd one is allows NRIs to form One Person Company. A. Change in definition of small companies As per the new […]...

Read More
Posted Under: Finance |

Affordable Housing gets shot in the Arm

A host of measures have been proposed in the Finance Bill 2021, which is targeted to provide relief to both the affordable house buyers as well as the developers of affordable housing projects. These specific and targeted measures would help to boost the activity in the real estate sector. a. Increase in tolerance limit upto […]...

Read More
Posted Under: Finance |

Browse All Categories

CA, CS, CMA (6,025)
Company Law (8,245)
Custom Duty (9,170)
DGFT (4,772)
Excise Duty (4,694)
Fema / RBI (5,137)
Finance (5,545)
Income Tax (40,796)
SEBI (4,433)
Service Tax (3,937)

Search Posts by Date

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031