Union Budgets

Disallowance restricted to 30% due to non-deduction of TDS. New chapter inserted for Business Trust. Exemption from Capital gain by reinvestment in one residential house in India. Forfeiture of advance receipt shall be taxable. Increase in the limit of deduction... Read More →

Service Tax Voluntary Compliance Encouragement Scheme, 2013. Recovery of CENVAT Credit wrongly taken. Personal penalty on director of a company through introduction of a new Section 78A. Power to arrest for certain offences introduced through a new Section 91. Download... Read More →

Amendment in General Anti Avoidance Rule. Return of Income filed without payment of self- assessment tax to be treated as defective return. Taxability of immovable property received for inadequate consideration. Download Now

General Anti-Avoidance Rules (GAAR) introduced whereby an impermissible avoidance arrangement may be disregarded/ tax benefits denied. Threshold limit for tax audit increased from Rs. 60 lacs to Rs. 100 lacs. Download Now

Approach of applicability of service tax on services changed from Positive List to Negative List. Rate of Service tax is being increased from 10% to 12%. Services declared to be taxable to avoid confusion. Changes in abatements rate. Service Recipient... Read More →

Sunset clause for power sector extended. Indirect transfer of assets in India to be taxable. Definition of Royalty enhanced through clarificatory amendment. Advance Pricing Agreement (APA) introduced. New section for TDS on transfer of immovable property. Download Now

The Point of Taxation Rules have been introduced to determine the point in time when the services shall be deemed to be provided. Download Now

Alternate Minimum Tax @ 18.5% has been proposed on LLPs. Annual income tax filing by a Liaison Office made applicable. Jurisdiction of TPO enlarged over International Transactions. Download Now

Basic MAT rate has been proposed to be increased from existing 15% to 18%. Reduction in surcharge for domestic companies. Download Now

TDS rates have got changed due to abolition of surcharge and cess. The revised and important TDS rates are given in the table format. Download Now