Union Budget News

Govt Considers Decriminalising Delayed TCS Filing in Finance Bill: CBDT Chairman

03 August 2024 at 09:10

The Union Budget has introduced a series of tax simplification measures, with significant implications for TCS compliance. Ravi Agarwal, Chairman of the CBDT, has hinted at the potential decriminalisation of delays in TCS filings

Posted in Union Budget | 1 comments | 2223 Views

Budget 2024: Property Owners to Face Higher Taxes as Loophole is Plugged

31 July 2024 at 08:58

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a significant change in the taxation of rental income from residential properties. To curb tax evasion, it has been mandated that such income can only be declared under the 'Inco

Posted in Union Budget | 2 comments | 4740 Views

New Fund Established to Support MSMEs Amidst Controversial 45-Day Payment Rule

31 July 2024 at 08:56

In the Union Budget 2024-25, FM has addressed the central government’s controversial 45-day payment rule by announcing a new fund in collaboration with banks to support India's cash-strapped MSMEs.

Posted in Union Budget | 2637 Views

Amendments to Sections 201 and 206C: Time Limit for Deeming Assessee in Default Reduced

27 July 2024 at 09:10

Reducing time limitation for orders deeming any person to be assessee in default

Posted in Union Budget | 2685 Views

Proposed Amendments to Section 276B: Rationalising Prosecution for Delayed Tax Payments

27 July 2024 at 09:09

Amendments proposed in section 276B of the Act for rationalisation of provisions

Posted in Union Budget | 1818 Views

Amendments to Black Money Act 2015: Increased Penalty Threshold for Undisclosed Foreign Assets in ITR

27 July 2024 at 09:08

Amendments in section 42 and 43 of the Black Money Act, 2015 relating to penalty for failure to disclose foreign income and asset in the ITR

Posted in Union Budget | 2625 Views

Amendment to Equalisation Levy Provisions: Key Changes Effective 1st August 2024

27 July 2024 at 09:07

Amendment of provisions related to Equalisation Levy

Posted in Union Budget | 1 comments | 2928 Views

Direct Tax Vivad se Vishwas Scheme 2024: Key Features

27 July 2024 at 09:07

It is proposed that this Scheme shall come into force from the date to be notified by the Central Government. The last date for the Scheme is also proposed to be notified.

Posted in Union Budget | 1 comments | 1521 Views