Changes in finance bill 2012

Ravikant (Accountax) (6285 Points)

07 May 2012  

Proposed changes in Finance Bill, 2012

 

 

 

1) Withdrawal of TDS on purchase of Immovable Property

2) Retrospective amendment to Sec. 9 not applicable where assessment order already passed

3) GAAR : Provisions postponed, now effective from 01-04-2014

4) GAAR : Provisions as to onus of proof shifted to revenue

5) GAAR : Advance Ruling applicable to GAAR cases

6) GAAR : Constitution of approving panel changed

7) STT on sale of unlisted securities at 0.2%

8) No excise duty on purchase of jewellery upto Rs. 5 lakhs