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Union Budgets


Finance Bill 2019 A Crisp Analysis of Tax Provisions by Blue

  1. Reduced corporate income tax rate of 25% extended to companies up to a turnover of Rs. 400 crore.
  2. Buy back of shares by listed companies will also attract an additional tax of 20%
  3. TDS coverage increased on certain amounts related to immovable property
  4. Deemed accrual of the gift made to a person outside India.
  5. TDS of 2% on cash withdrawal in excess of Rs. 1 crore in aggregate.
  6. Surcharge on super-rich increased from 15% to 37%

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 EBIDTA. Limit of cash expenses reduced to half. Limit of receipt in cash restricted with penal provisions. Rationalisation of provisions of Section 10AA.

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 limitation period has been increased from 18 months to 30 months for issuance of demand notices.