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TMI Short Notes on various issues

 

  1. REVIEW OF LEVY OF SOCIAL WELFARE SURCHARGE [SWS] ON VARIOUS ITEMS BY AMENDING NOTIFICATION NO. 11/2018- CUSTOMS DATED 02.02.2018
  2. DUTY CONCESSIONS ON SPECIFIED ITEMS WHEN IMPORTED BY BONAFIDE EXPORTERS
  3. OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES/HEALTH CESS IN RESPECTIVE NOTIFICATIONS [with effect from 2.2.2022, unless specified otherwise]
  4. PROPOSALS INVOLVING CHANGES IN EFFECTIVE BASIC CUSTOMS DUTY RATES IN RESPECT OF PHASED MANUFACTURING PROGRAM [PMP] WITH RESPECT TO SPECIFIC ELECTRONIC GOODS
  5. PRUNING AND REVIEW OF CUSTOMS DUTY CONCESSIONS/ EXEMPTIONS
  6. AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
  7. OTHER LEGISLATIVE AMENDMENTS PERTAINING TO CUSTOMS
  8. AMENDMENTS IN THE CUSTOMS ACT, 1962
  9. EXPLANATORY MEMORANDUM TO THE FINANCE BILL, 2022
  10. Promoting Voluntary Tax Compliance and Reducing Litigation
  11. Definition of the term “slump sale”:
  12. Reduction of Goodwill from block of assets to be considered as ‘transfer’
  13. Income-tax authorities for the purposes of section 133A of the Act
  14. Amendment in the provisions of section 119 of Income-tax Act
  15. Amendment in the provisions of section 263 of the Act
  16. Amendment to sub-section (1A) of section 35
  17. Consequential Amendments
  18. Clarifying that application will be allowed only when its actually paid
  19. Voluntary Contributions for the renovation and repair of temples, mosques, gurudwaras, churches etc notified under clause (b) of sub-section (2) of section 80G
  20. Taxation of certain income of the trusts or institutions under both the regimes at special rate
  21. Providing clarity on taxation in certain circumstances
  22. The provisions of section 115TD to apply to any trust or institution under the first regime.
  23. Bringing consistency in the provisions relating to payment to specified person
  24. Bringing consistency in the provisions of two exemption the regimes
  25. Reference to the Principal Commissioner or Commissioner (PCIT/CIT) for the cancellation of registration/approval
  26. Penalty for passing on unreasonable benefits to trustee or specified persons
  27. Amendment in the provisions of section 179 of the Act
  28. Rationalization of the provisions of sections 271AAB, 271AAC and 271AAD of the Act
  29. Rationalization of provisions relating to assessment and reassessment
  30. Set off of loss in search cases - Amendment in the provisions of section 79A of the Act
  31. Amendment in Faceless Assessment under section 144B of the Act
  32. Faceless Schemes under the Act
  33. Similar amendment is proposed in Section 271C.
  34. Alignment of the provisions relating to Offences and Prosecutions under Chapter XXII of the Act
  35. Cash credits under section 68 of the Act
  36. Amendment in the provisions of section 248 of Income-tax Act and insertion of new section 239A
  37. Withdrawal of exemption under clauses (8), (8A), (8B) and (9) of section 10 of the Income-tax Act, 1961- reg
  38. Withdrawal of concessional rate of taxation on dividend income under section 115BBD
  39. Scheme for taxation of virtual digital assets
  40. Provisions pertaining to bonus stripping and dividend stripping to be made applicable to securities and units
  41. Widening the scope of reporting by producers of cinematograph films or persons engaged in specified activities
  42. TDS on benefit or perquisite of a business or profession
  43. Rationalization of provisions of TDS on sale of immovable property
  44. Rationalization of provisions of section 206AB and 206CCA to widen and deepen tax-base
  45. Facilitating strategic disinvestment of public sector companies
  46. Exemption of amount received for medical treatment and on account of death due to COVID-19
  47. Condition of releasing of annuity to a disabled person
  48. Incentives to National Pension System (NPS) subscribers for state government employees
  49. Tax Incentives to International Financial Services Centre (IFSC)
  50. Rationalization of provisions of the Act to promote the growth of co-operative societies

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