Union FM Nirmala Sitharaman to Discuss Finance Bill before Lok Sabha on March 24, 2023
The Lok Sabha has scheduled the discussion on the Finance Bill and its passing on March 24, 2023. Nirmala Sitharaman, the finance minister, will...
![Finance Bill, 2023 Amends Income Tax Penalty Provisions [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Finance-Bill-2023-Amends-Income-Tax-Penalty-Provisions-TAXSCAN.jpg "Finance Bill, 2023 Amends Income Tax Penalty Provisions [Read Finance Bill]")
![Budget 2023: Finance Bill Amends Income Tax Act to Insert Designation New Joint Commissioner (Appeals)to Dispose First Appeals [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Budget-2023-Finance-Bill-Amends-Income-Tax-Act-TAXSCAN.jpg "Budget 2023: Finance Bill Amends Income Tax Act to Insert Designation New Joint Commissioner (Appeals)to Dispose First Appeals [Read Finance Bill]")
Finance Bill, 2022 proposes Amendment to Provision relating to Tax Liability of Directors of Private Companies [Read Finance Bill]
The Finance Bill, 2022 has proposed to amend the provisions of section 179 of the Income Tax Act, 1961 relating to tax liability of directors of the private limited companies applicable from 1st...
![Finance Bill, 2022 proposes Amendment to Provision relating to Tax Liability of Directors of Private Companies [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Finance-Bill-2022-Tax-Liability-of-Directors-Private-Companies-Budget-2022-Taxscan.jpg "Finance Bill, 2022 proposes Amendment to Provision relating to Tax Liability of Directors of Private Companies [Read Finance Bill]")
Budget 2022: No TDS on Transfer of Immovable Property If Consideration paid or Stamp Duty Value are both less than Rs. 50 Lakhs
The Finance Bill 2022 stated that no TDS on Transfer of Immovable Property if Consideration paid or Stamp Duty Value are both less than Rs. 50 Lakhs. Section 194-IA of the Act provides for...
Budget 2022: Anti-avoidance provisions to deal with Transactions in Securities & Mutual Funds applicable to Dividend Stripping & Bonus Stripping
The Finance Bill, 2022 tabled on Tuesday amended section 94 of the Income Tax Act to include dividend stripping and bonus stripping with effect from 1st April 2023. The provision contains anti...
Budget 2022: Income Tax Proceedings shall be valid even after Completion of Business Reorganization Process, Entities shall file Modified Returns
The Finance Bill, 2022 has incorporated some new provisions in order to regulate the assessment proceedings and the procedure of taxation in case of succession to business in the event of...
Setback to Pharma Companies: Freebies to Doctors are Ilegal, No Deduction allowed, clarifies Finance Bill, 2022
In a major setback to the pharma companies, the Finance Bill, 2022 clarified that the gifts and freebies to doctors shall not be treated as business expenditure under section 37 of the Income Tax...
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]")
Assessee can’t be held liable for Interest for short-fall of Advance Tax which arises due to Default of Payer in deducting TDS, rules Supreme Court [Read Judgment]
The Apex Court held that the assessee cannot be held liable for interest for short-fall of advance tax which arises due to Default of Payer in Deducting TDS before the Financial Year 2012-13. The...
![Assessee can’t be held liable for Interest for short-fall of Advance Tax which arises due to Default of Payer in deducting TDS, rules Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/09/Advance-Tax-TDS-Supreme-Court-Taxscan.jpg "Assessee can’t be held liable for Interest for short-fall of Advance Tax which arises due to Default of Payer in deducting TDS, rules Supreme Court [Read Judgment]")