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 ..
At present there is no liability on an individual or Hindu undivided family (HUF) to deduct tax at source on any payment made to a resident contractor or professional when it is for personal use. Further, if the individual or HUF is carrying on business or profession which is not subjected to audit,..
The salient features of the rates specified in the said Part III are indicated in the following paragraphs
Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person.
Paragraph A of Part-III of First Schedule to the Bill provides following rate..
Several tax proposals aim to promote investments in start-ups and sunrise industries in the country
Lower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore instead of the current limit of Rs.250 crore
Increase in surcharge by 3% for those wi..
In order to further discourage cash transactions and move towards less cash economy, it is proposed to insert a new section 194N in the Act to provide for levy of TDS at the rate of two per cent on cash payments in excess of one crore rupees in aggregate made during the year, by a banking company or..