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Budget 2020

Budget 2020 proposes availment of ITC through Fake Invoice as a Non-Bailable Offence

Taxscan Team

The Union Budget for the year 2020-21 has made the availment of benefits of Input Tax Credit (ITC) by the fraudulent means which is by making fake...

Budget 2020: 10% TDS applicable on Capital Gains in Mutual Funds

Budget 2020: Changes in Companies Act - Criminal Liabilities to be substituted by Civil Liabilities

International Taxation - Transfer Pricing - Budget 2020 - Budget Scan - Taxscan

Budget 2020: All You Need to Know the Changes in International Taxation and Transfer Pricing

Budget 2020: Amendments in SARFAESI Act; Eligibility limit of NBFCs for Debt Recovery reduced

M Ajith Kumar IRS appointed as new CBIC Chairman [Read Notification]

The Government of India on Thursday appointed M Ajit Kumar IRS (C&CE 84) as chairman of the Central Board of Indirect Taxes and Customs (CBIC). The appointment came just two days before the Union...

Budget 2020: Proposal for E-Commerce platforms to collect 1% TDS from sellers.

The Finance Minister Nirmala Sitharaman through her budget 2020 has proposed for a collection of 1% TDS from sellers by E-commerce Platforms. "In order to widen and deepen the tax net by bringing...

Budget 2020: Deposit Insurance Coverage limit to be increased from Rs 1 Lakh to Rs 5 Lakh per depositor

The Finance minister while presenting Budget 2020 proposes that the Insurance coverage deposit limit will be increased from Rs 1 lakh to Rs 5 lakh per depositor. Nirmala Sitharam also informed the...

Budget 2020: Penalty for False Entry or Omission in Books of Accounts

While presenting Budget 2020 finance minister proposes about the Insertion of a new section for the penalty to a person who to evade tax liability made any false entry or omission of any entry which...

16 Proposed amendments to CGST in Union Budget 2020

The Finance Minister Nirmala Sitharaman on Saturday through the union Budget has proposed the following 16 amendments to the Central Goods and Service taxes (CGST) aiming to improve the scope and...

Budget 2020 proposes to Exempt Levy of Stamp Duty on Transactions in Stock Exchanges established in IFSC

On presenting Budget 2020, finance minister proposes to exempt levy of stamp duty on transactions in stock exchanges established in International Financial Services Centre(IFSC). This provision will...

Budget 2020 proposes Concessional Tax Rate for Co-operatives

In a budget 2020 presented yesterday has announced significant changes into co-operatives. Cooperative societies are currently tax at a rate of 30% with surcharge and cess. As a major concession, and...

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