Union Budget News

Finance Bill 2023 passed in Lok Sabha with over 45 amendments

24 March 2023 at 08:39

Today, i.e. 24th March, Union Finance Minister Nirmala Sitharaman will move The Finance Bill, 2023 in Lok Sabha to give effect to the financial proposals of the Central Government for the financial year 2023-2024 be taken into consideration.

Posted in Union Budget | 17565 Views

Govt. proposes draft dispute settlement scheme as announced in Union Budget 2023-24

09 February 2023 at 08:47

Government proposes quick settlement of contractual disputes to promote ease of doing business as announced in Union Budget 2023-24

Posted in Union Budget | 4236 Views

Government provides big relief to MSMEs for COVID-19 period

07 February 2023 at 08:39

Government provides a big relief to MSMEs for COVID-19 period; fulfils promise announced in Union Budget 2023-24

Posted in Union Budget | 3921 Views

Budget 2023-24: Life Insurance Maturity Sum With Over Rs. 5 Lakh Premium To Be Taxed

03 February 2023 at 08:34

An individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceeds Rs.5 lakh, according to a Budget proposal presented on Wednesday.

Posted in Union Budget | 8430 Views

Budget 2023-24: Removal of certain funds from section 80G

02 February 2023 at 13:11

Section 80G of the Act, inter alia, provides for the procedure for granting approval to certain institutions and funds receiving donation and the allowable deductions in respect of such donations to the assessee making such donations.2. Sub-section (

Posted in Union Budget | 9258 Views

Memorandum explaining provisions in Finance Bill 2023

02 February 2023 at 13:01

FINANCE BILL, 2023PROVISIONS RELATING TO DIRECT TAXESIntroductionThe provisions of Finance Bill, 2023 (hereafter referred to as "the Bill"), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as 'the

Posted in Union Budget | 11244 Views

Finance Bill 2023

02 February 2023 at 12:23

AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2023Bill No. 17 of 2023THE FINANCE BILL, 2023 - A BILLto give effect to the financial proposals of the Central Government for the financial year 2023-2024.BE it enacted by Parliament in the Seventy-fourth Y

Posted in Union Budget | 8091 Views

ICAI invites suggestions on tax proposals of Union Budget 2023-24

02 February 2023 at 08:36

Please submit your valuable suggestions latest by 11th February, 2023.

Posted in Union Budget | 3438 Views

Budget 2023-24: Increasing threshold limit for co-operatives to withdraw cash without TDS

01 February 2023 at 22:01

Section 194N of the Act provides that a banking company or a co-operative society engaged in carrying on the business of banking or a post office, which is responsible for paying any sum to any person (referred to as the recipient) shall, at the time

Posted in Union Budget | 7935 Views

Budget 2023-24: Extending the scope for deduction of tax at source to lower or nil rate

01 February 2023 at 22:01

Section 197 of the Act relates to grant of a certificate of tax deduction at lower or nil rate. It provides for assessee to apply to the Assessing Officer for TDS at zero rate or lower rate, if the tax is required to be deducted under sections 192, 1

Posted in Union Budget | 4599 Views