Rs. 10 Cr ceiling proposed for capital gain exemption in Union Budget – 2023: An overview
"I propose to cap deduction from capital gains on investment in residential homes under Sections 54 and 54F to Rs 10 crore to target ...
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The Blogs
Charitable Trust & Budget-2023 proposal to amend the time limit to file Form 9A and 10:
Charitable Trust & Budget-2023 proposal to amend the time limit to file Form 9A and 10:
It is proposed that the due date for furnishing Form No. 9A and 10 by Charitable Institutions would be 2 months prior to ...
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An overview of the Karnataka Budget for FY 2023-24
An overview of the Karnataka Budget for FY 2023-24
Tax Proposals
Simplification of Profession Tax Act. Increase in exemption limit for lower income employees from Rs.15,000 to Rs.25,000
For effective verification of dealers transactions and to ensure data similarity, Govt have switched ...
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An overview of the Direct Tax Proposals in the Finance Bill – 2023
An overview of the Direct Tax Proposals in the Finance Bill - 2023
Union Budget-2023 was certainly neither a populist budget nor an election budget. It has clearly laid the emphasis on prioritizing economic growth with capital spending to generate ...
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Union Budget-2023: Whether the old Tax Regime is still better?
Union Budget-2023: Whether the old Tax Regime is still better?
Though there are numerous benefits & motivation for the taxpayers to opt for the new tax regime, still the old regime could be better in some cases. Here is a ...
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Union Budget-2023: New Tax Regime vs. Old Tax Regime – Which one is better?
Union Budget-2023: New Tax Regime vs. Old Tax Regime - Which one is better?
Though the concept of a new tax regime without any deductions & exemptions was introduced 3 years ago, it is yet not so popular. Numbers of taxpayers ...
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Union Budget 2023: Roll of cost Auditor widened by to prevent permanent deferral of taxes through undervaluation of inventory
Union Budget 2023: Roll of cost Auditor widened by to prevent permanent deferral of taxes through undervaluation of inventory
Assessees are required to maintain books of account for the purposes of the Act. The Central Government has notified the ...
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Union Budget 2023: TDS and taxability on net winnings from online games
Union Budget 2023: TDS and taxability on net winnings from online games
Section 194B of the Act provides that the person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle ...
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Union Budget 2023: Preventing misuse of presumptive schemes under section 44BB and section 44BBB
Union Budget 2023: Preventing misuse of presumptive schemes under section 44BB and section 44BBB
Section 44BB of the Act provides for presumptive scheme in the case of a non-resident assessee who is engaged in the business of providing services ...
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Union Budget 2023: Removal of exemption from TDS on payment of interest on listed debentures to a resident
Union Budget 2023: Removal of exemption from TDS on payment of interest on listed debentures to a resident
Section 193 of the Act provides for TDS on payment of any income to a resident by way of interest on ...
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Union Budget 2023: Tax avoidance through distribution by business trusts to its unit holders
Union Budget 2023: Tax avoidance through distribution by business trusts to its unit holders
Finance (No.2) Act, 2014 introduced a special taxation regime for Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InVIT) [commonly referred to as business ...
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Union Budget 2023: Removal of exemption of news agency under clause (22B) of section 10
Union Budget 2023: Removal of exemption of news agency under clause (22B) of section 10
Clause (22B) of section 10 of the Act, inter-alia, provides exemption to any income of a notified news agency which is set up in India ...
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Union Budget 2023: Extending deeming provision under section 9 to gift to not-ordinarily resident
Union Budget 2023: Extending deeming provision under section 9 to gift to not-ordinarily resident
Under the Act, income which, inter-alia, is deemed to accrue or arise in India during a year is chargeable to tax. Sub-section (1) of section 9 ...
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Union Budget 2023: Extending the scope for deduction of tax at source to lower or nil rate
Union Budget 2023: Extending the scope for deduction of tax at source to lower or nil rate
Section 197 of the Act relates to grant of a certificate of tax deduction at lower or nil rate. It provides for ...
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Union Budget 2023: Increasing threshold limits for presumptive taxation schemes
Union Budget 2023: Increasing threshold limits for presumptive taxation schemes
The existing provisions of Section 44AD of the Act, inter-alia, provide for a presumptive income scheme for small businesses. This scheme applies to certain resident assessees (i.e., an individual, ...
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Union Budget 2023 Ease in claiming deduction on amortization of preliminary expenditure
Union Budget 2023 Ease in claiming deduction on amortization of preliminary expenditure
Section 35D of the Act provides for amortization of certain preliminary expenses which are incurred prior to the commencement of business or after commencement, in connection with ...
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Union Budget 2023: 15% concessional tax to promote new manufacturing co-operative society
Union Budget 2023: 15% concessional tax to promote new manufacturing co-operative society
The Taxation Laws (Amendment) Act, 2019, inter-alia, inserted section 115BAB in the Act which provides that new manufacturing domestic companies set up on or after 01.10.2019, which ...
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Union Budget 2023: Conversion of Gold to Electronic Gold Receipt and vice versa
Union Budget 2023: Conversion of Gold to Electronic Gold Receipt and vice versa
Pursuant to the announcement in the Union Budget 2021-22 about Gold Exchange, SEBI has been made the regulator of the entire ecosystem of the proposed gold ...
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