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TMI Short Notes
Home TMI Notes Bills This  

TMI Short Notes on various issues

 

  1. Amendment of Definition of ‘Capital Asset’
  2. Extension of timeline for tax benefits to start-ups
  3. Rationalisation of taxation of capital gains on transfer of capital assets by non-residents
  4. Rationalization of tax deducted at source (TDS) rates
  5. TDS rate reduction for section 194LBC
  6. TDS threshold rationalization TDS provisions have various thresholds of amount of payment or amount of income, beyond which tax is required be deducted. It is proposed to rationalize these thresholds as below
  7. Section 193 – Interest on securities
  8. Section 194 – Dividends
  9. Section 194A – Interest other than interest on securities
  10. Section 194B - Winnings from lottery or crossword puzzle
  11. Section 194BB - Winnings from horse race
  12. Section 194D – Insurance commission
  13. Section 194G - Commission, etc., on sale of lottery tickets.
  14. Section 194H - Commission or brokerage.
  15. Section 194-I – Rent
  16. Section 194J - Fees for professional or technical services.
  17. Section 194K – Income in respect of units
  18. Section 194LA - Payment of compensation on acquisition of certain immovable property.
  19. Definition of “forest produce” rationalised
  20. Reduction in compliance burden by omission of TCS on sale of specified goods
  21. Amendments proposed in provisions of Block assessment for search and requisition cases under Chapter XIV-B
  22. Non-applicability of Section 271AAB of the Act
  23. Amendments proposed in sections 132 and 132B for rationalising provisions
  24. Time limit to impose penalties rationalised
  25. Clarification regarding commencement date and the end date of the period stayed by the Court
  26. Rationalisation of provisions related to carry forward of losses in case of amalgamation
  27. Rationalisation of transfer pricing provisions for carrying out multi-year arm’s length price determination
  28. Removal of higher TDS/TCS for non-filers of return of income
  29. SOCIO ECONOMIC WELFARE MEASURES - Increase in the limits on the income of the employees for the purpose of calculating perquisites
  30. Deduction under section 80CCD for contributions made to NPS Vatsalya
  31. Exemption to withdrawals by Individuals from National Savings Scheme from taxation
  32. Annual value of the self-occupied property simplified
  33. TAX ADMINISTRATION - Obligation to furnish information in respect of crypto-asset
  34. Increasing time limit available to pass order under section 115VP
  35. Excluding the period such as court stay etc. for calculating time limit to pass an order
  36. Exemption from prosecution for delayed payment of TCS in certain cases
  37. Certain penalties to be imposed by the Assessing Officer
  38. Removing date restrictions on framing the schemes in certain cases
  39. Extending the processing period of application seeking immunity from penalty and prosecution
  40. Extending the time-limit to file the updated return
  41. Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI)
  42. AMENDMENTS TO THE CUSTOMS ACT, 1962
  43. AMENDMENTS TO THE CUSTOMS TARIFF ACT, 1975
  44. AMENDMENTS TO DUTY RATES IN FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
  45. OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS
  46. AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC)
  47. SOCIAL WELFARE SURCHARGE (SWS)
  48. Review of Customs duty Exemptions
  49. Changes to IGCR (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2017
  50. Amendments in Central Excise Act, 1944.

....7........

 

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