Wednesday, August 5, 2020

Finance Act / Budget

Rajasthan Budget 2020 proposes Amnesty Scheme to give 100% Waiver of Interest and Penalty on Stamp Duty Evasion

The Rajasthan Budget 2020 has proposed an Amnesty scheme to give a 100% waiver of interest and penalty payable on stamp duty. The following changes have also been made under Amnesty Scheme to...

Rajasthan Budget proposes to constitute GST Audit Authority and Business Intelligence Unit

Rajasthan Budget has proposed to constitute a GST Audit Authority and Business Intelligent Unit for efficient management of commercial taxes. The Commercial Taxes Department is also set to be reorganized in the...

Rajasthan Budget 2020 proposes setting up of 48 New Courts for the year 2020-21

The Rajasthan State Budget has proposed setting up of 48 New Courts in the different part of the state for the Financial Year 2020-21. Taking into account the increase in the number of...

SC strikes down Rules Governing Conduct of Tribunals introduced by Finance Bill, 2017 [Read Judgment]

The Supreme Court in the case of Rojer Mathew v South Indian Bank Ltd. by has struck down Tribunal, Appellate Tribunals and other Authorities (Qualification and other Conditions of Service of Members)...

Budget 2020: Finance Ministry invites Suggestions from Industry and Trade Associations for changes in Direct and Indirect Taxes

The Ministry of Finance has invited Suggestions from the Industry and Trade Associations for Budget 2020-21 regarding changes in direct and indirect taxes. The Ministry has invited suggestions for changes in the duty...

Govt announces Tax Relief for Start-Ups under Budget 2019

Several of the tax proposals announced by the Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament today, are aimed at promoting investments...

Budget 2019 announces Tax Relief for Individuals

The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and  Rs. 5 crore and above is proposed to be increased...

Union Budget proposes 25 % Corporate Tax extended to Companies with Annual Turnover up to Rs. 400 crore

The Union Budget 2019-20 has proposed to extend the lower rate of 25 % Corporate Tax to all companies with annual turnover up to Rs. 400 crore.  Currently, this rate is only...

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