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TMI Short Notes
Home TMI Notes Bill This  

TMI Short Notes on various issues

 

  1. Extension of date of sanction of loan for affordable residential house property
  2. Extension of date of incorporation for eligible start up for exemption and for investment in eligible start-up
  3. Removing difficulties faced by taxpayers Increase in safe harbour limit of 10% for home buyers and real estate developers selling such residential units
  4. Relaxation for certain category of senior citizen from filing return of income-tax
  5. Rationalisation of provisions related to Sovereign Wealth Fund (SWF) and Pension Fund (PF)
  6. Addressing mismatch in taxation of income from notified overseas retirement fund
  7. Rationalisation of provisions of Minimum Alternate Tax (MAT)
  8. Exemption of deduction of tax at source on payment of Dividend to business trust in whose hand dividend is exempt
  9. Rationalisation of the provision concerning withholding on payment made to Foreign Institutional Investors (FIIs)
  10. Rationalisation of provisions relating to tax audit in certain cases
  11. Advance tax instalment for dividend income
  12. Raising of prescribed limit for exemption under sub-clause (iiiad) and (iiiae) of clause (23C) of section 10 of the Act
  13. Extending due date for filing return of income in some cases, reducing time to file belated return and to revise original return and also to remove difficulty in cases of defective returns
  14. Rationalisation of various Provisions Payment by employer of employee contribution to a fund on or before due date
  15. Constitution of Dispute Resolution Committee for small and medium taxpayers
  16. Constitution of the Board for Advance Ruling
  17. Income escaping assessment and search assessments
  18. Allowing prescribed authority to issue notice under clause (i) of sub-section (1) of section 142
  19. Provision for Faceless Proceedings before the Income-tax Appellate Tribunal (ITAT) in a jurisdiction less manner
  20. Discontinuance of Income-tax Settlement Commission
  21. Reduction of time limit for completing assessment
  22. Rationalisation of the provision of Charitable Trust and Institutions to eliminate possibility of double deduction while calculating application or accumulation
  23. Taxation of proceeds of high premium unit linked insurance policy (ULIP)
  24. Rationalisation of the provision of slump sale
  25. Rationalisation of provision of transfer of capital asset to partner on dissolution or reconstitution
  26. Provisional attachment in Fake Invoice cases
  27. Rationalisation of the provisions of Equalisation Levy
  28. Depreciation on Goodwill
  29. Rationalisation of the provision relating to processing of returned income and issuance of notice under sub-seciton (2) of section 143 of the Act
  30. Adjudicating authority under the PBPT Act
  31. Rationalisation of the provision of presumptive taxation for professionals under section 44ADA
  32. Clarification regarding the scope of Vivad se Vishwas Act, 2020
  33. Definition of the term “Liable to tax”
  34. Income Declaration Scheme (IDS) amendment
  35. Tax Deduction at Source (TDS) on purchase of goods
  36. TDS/TCS on non filer at higher rates
  37. Taxability of Interest on various funds where income is exempt
  38. CUSTOMS
  39. AMENDMENTS IN THE CUSTOMS ACT, 1962
  40. AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975
  41. AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
  42. CHANGES IN CUSTOMS RULES
  43. OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN RESPECTIVE NOTIFICATIONS [with effect from 2.2.2021, unless specified otherwise]
  44. Other miscellaneous changes
  45. Pruning and review of customs duty concessions/ exemptions
  46. Prescribing the condition of observance of the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR Rules, 2017) for certain conditional entries in notification No. 50/2017-Customs dated 30.06.2017, in lieu of certain exiting conditions. Besides certain other conditions for imports are being rationalized/simplified
  47. IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS ON IMPORT OF CERTAIN ITEMS [to be effective from 02.02.2021] [Clause [115] of the Finance Bill, 2021]
  48. OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS/ TECHNICAL CHANGES BY AMENDING NOTIFICATION NO. 50/2017-CUSTOMS DATED 30.06.2017
  49. Review of levy of Social Welfare Surcharge on various items
  50. Other Miscellaneous changes pertaining to Anti-Dumping Duty (ADD)/ Countervailing Duty (CVD)/ Safeguard Measures

....6........

 

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