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UK aims to raise £500M annually through Digital Service Tax

With the Finance Bill, 2020, the Government of the UK has decided to launch Digital Service Tax (DST) with effect from 1 April 2020. 2% Value-Added...

ICAI invites suggestions on Tax Proposals of Union Budget 2020

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

Finance Bill 2019 empowers RBI to supersede the Board of an NBFC

CBDT releases Explanatory Notes to Provisions of Finance Act, 2018 [Read Circular]

No Deductions for Industrial Undertakings If Income Tax Return not filed within Due Dates

The Finance Bill introduced by the Union Finance Minister Arun Jaitley last day proposed that the industrial undertakings cannot avail the benefit of section 80 deductions under the Income Tax Act if...

All You Need to Know about Some Major Income Tax Changes from 1st April 2017

The budgetary exercise for the coming financial year has been completed by the Lok Sabha by passing the Finance Bill. The following are some important income tax changes that will came into effect...

Finance Bill would be passed by the Parliament before the 31st March, 2017, says FM Arun Jaitley

Finance Minister Arun Jaitley releases the Revised General Financial Rules (GFR) 2017. The Union Finance Minister Arun Jaitley said since this time, the Finance Bill would be passed by the...

CBDT Committee recommends Levy of Tax on Digital Services

A Committee constituted by the Central Board of Direct Taxes (CBDT) has recommended for the levy of tax on most digital services. The Committee constituted to examine taxation of E-Commerce, has...

Govt. won’t withdraw the proposal for Imposing Excise Duty on Gold; Lok Sabha passes Finance Bill 2016

The Finance Minsiter Arun Jaitley today announced that will not roll back the proposal of imposing 1% of excise duty on gold. The decision was announced by the Union Finance Minister Arun Jaitley...