TMI Short Notes

TMI Short Notes on various issues

401. Reducing time limitation for orders deeming any person to be assessee in default (TAX ADMINISTRATION)

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402. Widening ambit of section 200A of the Act for processing of statements other than those filed by deductor (TAX ADMINISTRATION)

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403. Extending the scope for lower deduction / collection certificate of tax at source (TAX ADMINISTRATION)

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404. ​​​​​​​Notification of certain persons or class of persons as exempt from TCS (TAX ADMINISTRATION)

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405. Time limit to file correction statement in respect of TDS/ TCS statements (TAX ADMINISTRATION)

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406. Penalty for failure to furnish statements (TAX ADMINISTRATION)

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407. Submission of statement by liaison office of non-resident in India (TAX ADMINISTRATION)

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408. Determination of Arms Length Price in respect of specified domestic transactions in proceedings before Transfer Pricing Officer (TAX ADMINISTRATION)

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409. Discontinuation of the provisions allowing quoting of Aadhaar Enrolment ID in place of Aadhaar number (TAX ADMINISTRATION)

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410. ​​​​​​​Amendments in sections 245Q and 245R related to Advance Rulings (TAX ADMINISTRATION)

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411. Powers of the Commissioner (Appeals) (TAX ADMINISTRATION)

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412. Amendment of section 271FAA to comply with the Automatic Exchange of Information (AEOI) framework (TAX ADMINISTRATION)

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413. Amendment to include the reference of Black Money Act, 2015 for the purposes of obtaining a tax clearance certificate (TAX ADMINISTRATION)

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414. Rationalisation of provisions related to time-limit for completion of assessment, reassessment and recomputation

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415. Amendment of Section 80G (TAX ADMINISTRATION)

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416. Removing reference to National Housing Board in Section 43D of the Act (TAX ADMINISTRATION)

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417. Adjusting liability under Black Money Act, 2015 against seized assets (TAX ADMINISTRATION)

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418. Amendment of Section 24 of the Prohibition of Benami Property Transactions Act, 1988 (Amendments to the Prohibition of Benami Property Transactions Act, 1988)

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419. Insertion of Section 55A in the Prohibition of Benami Property Transactions Act, 1988 (Amendments to the Prohibition of Benami Property Transactions Act, 1988)

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420. AMENDMENTS TO THE CUSTOMS ACT, 1962

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421. AMENDMENTS TO THE CUSTOMS TARIFF ACT, 1975

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422. AMENDMENTS TO THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975

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423. CUSTOMS - OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS

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424. CUSTOMS - OTHER MISCELLANEOUS AMENDMENTS

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425. Amendment of Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995

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426. Customs - Other notification changes

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427. Review of Customs duty Exemptions - Review of conditional exemption rates of BCD

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428. Customs - Review of exemptions prescribed by other notifications:

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429. CUSTOMS DUTY EXEMPTIONS / CONCESSIONS BEING ALLOWED TO LAPSE

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430. CUSTOMS - SOCIAL WELFARE SURCHARGE (SWS)

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431. CUSTOMS - AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC)

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432. Amendment of Central Excise Notification

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433. AMENDMENTS IN THE CGST ACT, 2017

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434. AMENDMENTS IN THE IGST ACT, 2017

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435. AMENDMENTS IN THE UTGST ACT, 2017

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436. AMENDMENTS IN THE GST (Compensation to States) Act, 2017

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437. RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals]

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438. TDS - Rates for deduction of income-tax at source during the financial year (FY) 2023- 24 from certain incomes other than “Salaries”.

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439. Rate of TDS on Salaries and Computation of Income for Advance Tax for FY 2023-24 / Assessment Year 2024-25

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440. Rate of Income Tax - Individual, HUF, association of persons, body of individuals, artificial juridical person for the FY 2023-24 i.e. AY 2024-25

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441. Co-operative Societies - Rate of Income Tax

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442. Firms – Rate of Income Tax on Firms / Partnership Firm

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443. Local authorities - Rate of Income Tax

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444. Companies – Rate of Income Tax / Corporate Tax

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445. Income Tax - Rebate under section 87A

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446. AMENDMENTS IN THE CGST ACT, 2017 and IGST Act, 2017

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447. AMENDMENT TO SEVENTH SCHEDULE TO THE FINANCE ACT, 2001

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448. AMENDMENTS TO THE CUSTOMS ACT, 1962

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449. Decriminalisation of section 276A of the Act

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450. Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI) and providing for alternative mechanism for vacation of office of the Administrator.

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