Budget News
39 more amendments in Finance Bill which was implemented in Finance Act, 2022 received assent of President
1) Loss from one Virtual Digital Asset (VDA) cannot be set-off against income from another VDA. 2) Definition of ‘transfer’...
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How to calculate and pay additional Tax on updated return | Section 140B | Budget 2022
Finance bill, 2022 has introduced section 140B of the Income tax act wherein such person is required to pay additional...
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Now file updated Income tax return within 2 years from the end of relevant assessment year | Detailed Discussion | Budget 2022
Who can file the updated return? Anyone can file the updated return irrespective of whether the person has filed original...
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INTRODUCTION OF CENTRAL BANK DIGITAL CURRENCY ‘DIGITAL RUPEE’ ANNOUNCED | RBI to issue it from 2022-23
The Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman today announced the introduction of Digital Rupee to be issued by...
Read more[Breaking News] India will now charge tax on Digital asset including cryptocurrency, NFT etc at 30%: Section 115BBH
As per the above provision below are bullet points for taxation of digital asset: Income from Digital asset shall be...
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[Live] Updates and Tax changes for Budget 2022 | Tax on cryptocurrency | Income tax and GST udpates in Budget 2022 [Download Bill]
India's Digital currency: RBI to bring Digital Rupee from 2022 and bring India's own digital currency which will be regulated...
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Union Budget 2022-23 to be presented on 1st February, 2022 in Paperless form
To mark the final stage of Union Budget making process, sweets provided to core staff due for “lock-in” at their...
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Finance Minister Smt. Nirmala Sitharaman concludes pre-Budget meetings for forthcoming Union Budget 2022-23
The stakeholder groups made several suggestions on various issues that included increased R&D spending, infrastructure status for digital services, incentives...
Read moreFinance bill 2021 passed in both houses or parliament and is now an act | More than 100 amendments | 25 Major amendments of Finance act, 2021
Every year our Hon'ble Finance Minister presents Finance bill in the parliament through which necessary amendments are made to the...
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Now issuing fake invoices can even lead to attachment of your property under Income tax
Section 271AAD was introduced by Budget, 2020 wherein penalty was introduced for issuing fake invoices or omission of any entry....
Read moreNow senior citizen’s are not required to file Income tax return | Budget 2021
Budget 2021 was presented on 01.02.2021 in the parliament. Although there was no major announcements in the Budget for common...
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What is Section 194Q- TDS on sale of goods introduced by Budget 2021? TDS u/s 194Q vs. TCS 206C(1H)
Budget 2021, was presented in Parliament on 01.02.2021 wherein although very few amendments were introduced in Direct tax as compared...
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Time limits of return filing and assessment in Income tax which has been proposed to be reduced by Budget 2021
As we know that under Income Tax and many other law as well government is trying to increase the use...
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Petrol and Diesel Prices to be increased by Budget 2021 by introducing new cess
In our series of discussion about Budget 2021 we must understand that Budget is not only about changes in Direct...
Read more2 Major amendments in Budget 2021 which would affect HNI – High net worth individuals
In our earlier post we had discussed in brief various changes made by Budget 2021 to Income tax and GST....
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- Important Direct Tax Amendments in Budget 2023 for individual and business owners
- [Live] Updates and Tax changes for Budget 2023 | Tax on cryptocurrency | Income tax and GST udpates in Budget 2023 [Download Bill]
- 2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022
- CBDT instructs Income tax officer to complete 148/ 147 assessment before 31.05.2023
- Final stage of Union Budget 2023-24 commences with Halwa Ceremony
- Clarification on entitlement of ITC where place of supply is determined in terms of proviso to sub-section (8) of section 12 of the IGST Act
- Consequences of Accepting cash while selling a Immovable property, land or house | 100% Penalty
- How many articles can a Chartered Accountant register for articleship?
- Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns – Update
- ICAI has launched free task management or practice management software for members in Practice
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