The Halwa ceremony, marking the commencement of the Budget printing process for Union General Budget 2020-21, was held here in North Block on the 20th of January 2020 in the presence of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
Union General Budget 2020-21 is..
Prime Minister Shri Narendra Modi invited ideas and suggestions for the Union Budget 2020 on MyGov.
He said, "The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development. I invite you all to share your ideas and suggestions fo..
The Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman started her Pre-Budget Consultations with different stakeholder Groups in connection with the forthcoming General Budget 2020-21 here on the 16th of December. Her first meeting was with the stakeholder Groups from&nb..
PRE-BUDGET MEMORANDUM - 2020
DIRECT TAXES AND INTERNATIONAL TAX
1.1 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum - 2020 on Direct Taxes and International Tax to the Government. The memorandum contains suggestion..
Model Tenancy Act(MTA) to Promote Growth of Rental Housing Segment by Regulating Renting of Premises
To Balance Interests of Owner & Tenant by Establishing Adjudicating Mechanism for Speedy Dispute Redressal Draft Model Tenancy Act(MTA), 2019 Issued for Seeking Comments from Public/Stak..
Facilitating demerger of Ind-AS compliant companies
One of the existing conditions for tax-neutral demergers is that the resulting company should record the property and the liabilities of the undertaking at the value appearing in the books of accounts of the demerged company. It has been represe..
Tax incentive for affordable housing
In order to provide an impetus to the ‘Housing for all’ objective of the Government and to enable the home buyer to have low-cost funds at his disposal, it is proposed to insert a new section 80EEA in the Act so as to provide a deduction ..
Mandating acceptance of payments through prescribed electronic modes
In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulation of black money and to promote digital economy, it is proposed to insert a new section 269SU in ..
TDS at the time of purchase of immovable property
Section 194-IA of the Act relates to payment on transfer of certain immovable property other than agricultural land and provides
for levy of TDS at the rate of one per cent. on the amount of consideration paid or credited for transfer o..
Currently, a person other than a company or a firm is required to furnish the return of income only if his total income exceeds
the maximum amount not chargeable to tax, subject to certain exceptions. Therefore, a person entering into certain high value
transactions is not necessarily required to ..