Various amendments proposed for tax Incentives to International Financial Services Centre (IFSC), including to exempt Income of a non-resident from offshore derivative instruments, Income from over the counter derivatives …
Dividend received by an Indian company from a specified foreign company, in which the recipient Indian company holds at least 26% shares, is taxable at 15% whereas the dividend …
Amendments proposed in the provisions relating to extension of timeline for issuing directions upto 31/03/2024 in respect of Faceless Schemes u/s 92CA, 144C, 253 and 264A of the Income …
Amendments proposed for widening the scope of reporting u/s 285B of the Income Tax Act applicable in the case of producers of cinematograph films, to further include certain persons …
Proposed amendments in relation to exemption of amount received for medical treatment and on account of death due to COVID-19, vide clauses 10 and 16 of the Finance Bill …
Amendments proposed in IT S. 43B to clarify that deduction for payment of interest on loans/ borrowings from specified FIs/ NBFCs/ Banks/ Co-op. Banks, is to be based on …
Amendments proposed in IT S. 14A to clarify the statutory position in the matter disallowance of expenditure in relation to income which does not form part of taxable income, …
Amendments proposed in relation to taxation of successor entity subsequent to business reorganization/ restructuring, including introduction of Mechanism to recast Tax demands, vide Clauses 50, 53 and 54 of …
IT S. 40(ii)(a) disallows payments on account rates/ taxes on the profits or gains of any business or profession in computing the taxable PGBP. However, some taxpayers claim deduction …
Reduction in AMT (from 18.5% to 15%) and Surcharge (from 12% to 7%) for Co-operative Societies by the Finance Bill 2022.