Budget 2023 introduces Concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of income Tax Act.
Discover the dark side of the Budget 2023 Trump Card- the new income tax regime. Find out the reduced tax rates & increased exemptions unveiled by FM Nirmala Sitharaman & how it differs from the old income tax regime.
In this article author covered 5 Major Custom Duty Proposals of Union Budget 2023-24 which includes Exemptions from Social Welfare Surcharge
Learn about the amendments to the GST in Finance Bill 2023 & how they will affect composition dealers. Keyphrase Highlights of Proposed GST Amendments in Finance Bill 2023
Discover how corporate takeover laws decrease tax evasion & what mechanisms are most likely at work in developing countries with this unified perspective. Best Practices of Corporate Governance In Developing World: A Unified Perspective.
Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceeds one crore rupees in any previous year. The limit is raised to ten crore rupees where at least 95% of receipts/payments are in non-cash mode.
Income Tax Section 35D amended to remove condition of activity in connection with preliminary expenses of a concern approved by CBDT
Budget 2023: section 115BAE provides concessional tax regime of 15% to new manufacturing co-operative societies
Section 72A amended to provide strategic disinvestment shall mean sale of shareholding by Central Government, State Government or PSU in a PSU
It is proposed to amend Income Tax Act so as to exclude income of a body or authority or Board or Trust or Commission, not being a company, from the scope of clause (46) of section 10 of the Act and insert a new clause (46A) in section 10 of the Act for their income.
