Tag: budget
Suggestions invited from the Industry and Trade Associations for Budget 2024-25 In the context of formulating the proposals for the Union Budget of 2024-25, the Ministry of Finance has invited suggestions and views from public. Suggestions may be send for changes in the duty structure, rates and broadening …
The Direct Tax Vivad se Vishwas Act 2020 gets notified. Download Copy The Direct Tax Vivad se Vishwas Act 2020 has received the assent of the President on the 17th March, 2020. The Act provides for resolution of disputed tax and for matters connected therewith or incidental …
E-scheme for levy of Faceless Income Tax Penalty u/s 274 with dynamic jurisdiction In order to impart greater efficiency, transparency and accountability to the assessment process under the Act a new e-assessment scheme has already been introduced. Section 274 of the Act provides for the procedure for imposing …
Faceless e-appeal scheme for filing of appeals before Commissioner (Appeals). Amendment to section 250 Presently, most of the functions/ processes under the Income Tax Act, including e-assessment scheme, filing/processing of returns, issuance of refunds or demand notices are done electronically. Lately, the filing of appeals before Commissioner (Appeals) …
Scope for TDS on interest income u/s 194A widened to include co-operative societies Section 194A of the Act provides for TDS on interest other than interest on securities. It provides that any person not being individual or HUF who is responsible for paying to a resident any income …
Exemption non-resident from filing of ITR on royalty or FTS income on deduction of TDS Union Budget 2020 has provided for exemption to non-residents from filing of ITRs on fulfilling certain conditions. Presently, section 115A of the Act provides for the determination of tax for a non-resident whose …
Key Highlights of Income tax/GST proposals of Union Budget 2019-20 Union Finance Minister Nirmala Sitharaman shall present Union Budget-2019 at Parliament on 5th July 2019. Watch Union Budget 2019-20 live Key highlights of income tax proposals of Union Budget 2019-20 Income Tax Proposals 1. Finmin thanks to the …
Presumptive Tax u/s 44ADA-reduce tax rate, increase threshold says ICAI in its Pre-Budget Memorandum-2019 on Direct Taxes and International Tax to the Government The Finance Act, 2016 has inserted a new section 44ADA which provide for special provision for computing profits and gains of profession on presumptive basis. …
Finance Minister holds his 7th Pre-Budget Consultation Meeting with the representatives of the Banks and Financial Institutions (FIs) Press Information Bureau Government of India Ministry of Finance 15-December-2017 20:34 IST The Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley holds his 7th Pre-Budget Consultation Meeting with …
ICAI Pre-Budget Memorandum-2018 on Direct and Indirect Taxes submitted to the Government in view of the ensuing Budget ICAI Pre-Budget Memorandum-2018 on Direct Taxes and International tax. The memorandum contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2018-19. The suggestions …
