Finance Bill 2021 A Crisp Analysis of Tax Provisions by Blue Consulting
Slump sale” definition widened No deduction of employee’s contribution for the delay in deposit Goodwill is not an asset Royalty & FTS excluded from Digital Tax TDS on purchase of goods introduced Board of Advance Ruling (BAR) replaces Authority of... Read More →
Finance Bill 2020 A Crisp Analysis of Tax Provisions by Blue
Highlights: 1. Time period and turnover limit increased to claim 100% exemption for start-ups 2. TDS rate on technical services reduced 3. Introduction of TDS on E-commerce transactions 4. Tightening of residency provisions 5. Dividend distribution tax in the hands... Read More →
Finance Bill 2019 A Crisp Analysis of Tax Provisions by Blue
Reduced corporate income tax rate of 25% extended to companies up to a turnover of Rs. 400 crore. Buy back of shares by listed companies will also attract an additional tax of 20% TDS coverage increased on certain amounts related... Read More →
Interim Finance Bill 2019: A crisp analysis of Income Tax Provisions
Taxable Income up to Rs. 5 lacs made tax free. Standard deduction limit raised to Rs. 50,000. Annual value of the second self occupied house to be taken as Nil. TDS limit on rent increased from Rs. 180,000 to Rs.... Read More →
Finance Bill 2018: A crisp analysis of Income Tax Provisions
Concessional corporate tax of 25% extended to companies whose annual turnover is up to Rs. 250 crore. Dividend Distribution Tax to be applicable on Deemed Dividend. Standard deduction of Rs. 40,000 introduced against salary income. Definition of “business connection” widened.... Read More →
Finance Bill 2017 A Crisp Analysis of Income Tax Provisions by Blue Consulting
Corporate tax for domestic companies having turnover up to INR 50 crore has been reduced from 30% to 25%. Period for claiming deduction for start up increased.Provision of “Secondary Adjustment” introduced in Transfer Pricing. Interest deduction restricted to 30% of... Read More →
Budget 2016-A crisp analysis of Income Tax provisions by Blue Consulting
Rate of corporate tax has been reduced to 29% for small businesses having turnover of less than Rs. 5 Cr. Clarification on concessional rate of 10% on the Long term capital gain on Unlisted Securities. Increase in threshold limit for... Read More →
Budget 2016- Analysis of Service Tax provisions by BC
Increase in service tax rate through a new levy in the name of “Krishi Kalyan Cess” by 0.5%. Indirect tax Dispute Resolution Scheme, 2016 introduced. Monetary limit for launching prosecution increased from Rs. 50 lacs to Rs. 2 crore. The... Read More →
Budget 2015-A crisp Analysis of Income Tax provisions by Blue Consulting
Rate of corporate tax has been reduced to 29% for small businesses having turnover of less than Rs. 5 Cr. Clarification on concessional rate of 10% on the Long term capital gain on Unlisted Securities. Increase in threshold limit for... Read More →
Budget 2014- Analysis of Service Tax provisions by BC (21st July’ 2014)
Advertisement through specific media now taxable. Services of “Radio Taxis or Radio Cabs” will be taxable. Some provisions of Central Excise Act inserted in Service Tax. Some existing Mega Exemptions withdrawn and some new Mega Exemptions introduced. Slab of interest... Read More →