Cenvat Credit on goods transport agency service availed for transport of goods from place of removal to buyer’s premises not admissible-Supreme Court ABCAUS Case Law Citation: ABCAUS 2189 (2018) (02) SC The Issue: The main issue involved in the present case was with regard to the admissibility of …
Deductions u/s 80-JJAA of The Income-Tax Act Extended To Footwear And Leather Industry To Help Employment Generation The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed to extend the benefits under Section 80-JJAA of the Income-tax Act to footwear and leather industry. While presenting the …
Long-term capital gains on sale of equity shares taxable @ 10% – New section 112A applicable from AY 2019-20 Under the existing provisions, long term capital gains arising from equity shares of a company or an unit of equity oriented fund or an unit of business trusts is exempt …
Tax Relief to Senior Citizens in Budget 2018-19. Health insurance premium, medical treatment of specified diseases, interest income and non deduction of tax at source (A) Deductions in respect of health insurance premium and medical treatment Section 80D, inter-alia, provides that a deduction upto Rs 30,000/- shall be allowed …
Requirement to obtain Permanent Account Number enlarged for entities Section 139A has been amended to provide that entities (other than individuals) shall apply for a PAN if it enters into a financial transaction of Rs. 250000/- or more in a financial year. Also applying for PAN has been made …
Standard deduction of Rs. 40000/- for salaried employees for the AY 2019-20 is reintroduced in the Budget 2018-19 Proposals presented in Lok Sabha today As per the speech of the Finance Minister, the standard deduction is being made available in lieu of transport and reimbursement of miscellaneous medical allowance. Presently, …
