Budget 2022: Any Surcharge/Cess shall be treated as Tax, Business Expenditure shall not be allowed w.e.f 1st April 2005 [Read Finance Bill]
The Union Budget 2022 has clarified the treatment of surcharge and cess and stated that the same shall be treated as tax and therefore, no deduction...
Cash Credits u/s 68 of Income Tax Act: Finance Bill, 2022 mandates Explanation of Source of Funds in the Hands of Creditor or Entry Provider [Read Finance Bill]
The Finance Bill, 2022 has mandated the Explanation of Source of Funds in the hands of creditor or entry provider. Section 68 of the Act provides that where any sum is found to be credited...
![Cash Credits u/s 68 of Income Tax Act: Finance Bill, 2022 mandates Explanation of Source of Funds in the Hands of Creditor or Entry Provider [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Cash-Credits-Income-Tax-Act-Finance-Bill-Explanation-finance-bill-2022-Funds-Creditor-entry-provider-budget-2022-budgetscan-budget-session-Taxscan.jpeg "Cash Credits u/s 68 of Income Tax Act: Finance Bill, 2022 mandates Explanation of Source of Funds in the Hands of Creditor or Entry Provider [Read Finance Bill]")
Finance Bill, 2022 provides clarity Section 80G Deduction for Voluntary Contributions for Renovation, Repair of Temples, Mosques, Gurudwaras, Churches [Read Finance Bill]
The Finance Bill, 2022 has provided the clarity Section 80G deduction for Voluntary Contributions for renovation, repair of temples, mosques, gurudwaras, churches. Donations for the renovation and...
![Finance Bill, 2022 provides clarity Section 80G Deduction for Voluntary Contributions for Renovation, Repair of Temples, Mosques, Gurudwaras, Churches [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Finance-Bill-2022-Section-80G-deduction-Voluntary-Contributions-for-renovation-repair-of-temples-mosques-gurudwaras-churches-budget-scan-budget-session-budget-2022-Taxscan.jpg "Finance Bill, 2022 provides clarity Section 80G Deduction for Voluntary Contributions for Renovation, Repair of Temples, Mosques, Gurudwaras, Churches [Read Finance Bill]")
Budget 2022: Govt withdraws Exemptions to Income of Individuals assigned with Duties outside India for Co-operative Technical Assistance Programmes [Read Finance Bill]
The Finance Bill, 2022 presented during the budget speech of the Finance Minister Nirmala Sitharaman on Tuesday has withdrawn certain exemptions provided under Clause (8) of the section 10 of the...
![Budget 2022: Govt withdraws Exemptions to Income of Individuals assigned with Duties outside India for Co-operative Technical Assistance Programmes [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Budget-2022-Government-withdraws-Exemptions-Income-of-Individuals-assigned-Duties-outside-India-co-operative-technical-assistance-programmes-taxscan.jpeg "Budget 2022: Govt withdraws Exemptions to Income of Individuals assigned with Duties outside India for Co-operative Technical Assistance Programmes [Read Finance Bill]")
![Budget 2022: Finance Minister announces Customs Reforms and Duty Rate Changes [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Customs-Duty-Budget-2022-Finance-Minister-Customs-Reforms-duty-rate-taxcsan.jpg "Budget 2022: Finance Minister announces Customs Reforms and Duty Rate Changes [Read Finance Bill]")
Budget 2022: No Appeal when an Identical Question of Law is Pending before Jurisdictional High Court or Supreme Court [Read Finance Bill]
With a view to reduce the litigation and the cost, the Finance Minister has proposed a mechanism as per which, when in an appeal by revenue an identical question of law is pending before...
![Budget 2022: No Appeal when an Identical Question of Law is Pending before Jurisdictional High Court or Supreme Court [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Budget-2022-Jurisdictional-High-Court-Supreme-Court-Litigation-Management-Identical-Question-of-Law-Taxscan.jpeg "Budget 2022: No Appeal when an Identical Question of Law is Pending before Jurisdictional High Court or Supreme Court [Read Finance Bill]")
Budget 2022: Finance Minister reduces Alternate Minimum Tax Rate and Surcharge for Cooperatives [Read Finance Bill]
The Finance Minister, Nirmala Sitharaman in her Budget Speech has announced the reduction in Alternate minimum tax rate and Surcharge for Cooperatives. Currently, cooperative societies are...
![Budget 2022: Finance Minister reduces Alternate Minimum Tax Rate and Surcharge for Cooperatives [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Budget-2022-Budget-Scan-Budget-Session-Finance-Minister-Reduces-Alternate-minimum-tax-rate-and-Surcharge-Cooperatives-taxscan.jpeg "Budget 2022: Finance Minister reduces Alternate Minimum Tax Rate and Surcharge for Cooperatives [Read Finance Bill]")
Budget 2022: Finance Minister clarifies the stand on ‘Health and Education cess’ as Business Expenditure [Read Finance Bill]
The Finance Minister, Nirmala Sitharaman in her Budget Speech has clarified the stand on ‘Health and Education cess’ as business expenditure. The income-tax is not an allowable expenditure for...
![Budget 2022: Finance Minister clarifies the stand on ‘Health and Education cess’ as Business Expenditure [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Budget-2022-Budget-Session-Budget-Scan-Finance-Minister-Health-and-Education-cess-business-expenditure-Taxscan.jpg "Budget 2022: Finance Minister clarifies the stand on ‘Health and Education cess’ as Business Expenditure [Read Finance Bill]")