TMI Short Notes

TMI Short Notes on various issues

501. Amendment of section 47 (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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502. TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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503. TCS under sub-section (1F) of section 206C on notified goods (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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504. Amendment of provisions of TDS on sale of immovable property (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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505. Tax Deduction at source on Floating Rate Savings (Taxable) Bonds (FRSB) 2020 (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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506. Preventing misuse of deductions of expenses claimed by life insurance business (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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507. Inclusion of taxes withheld outside India for purposes of calculating total income (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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508. Excluding sums paid under section 194J from section 194C (Payments to Contractors) (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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509. Disallowance of settlement amounts being paid to settle contraventions (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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510. Amendment of Section 55 of the Act (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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511. Direct Tax Vivad se Vishwas Scheme, 2024 (TAX ADMINISTRATION)

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512. Amendment of provisions related to Equalisation Levy (TAX ADMINISTRATION)

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513. Amendments in section 42 and 43 of the Black Money Act, 2015 relating to penalty for failure to disclose foreign income and asset in the ITR (TAX ADMINISTRATION)

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514. Amendments proposed in section 276B of the Act for rationalisation of provisions (TAX ADMINISTRATION)

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

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

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

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

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

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

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

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

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

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

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

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

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

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529. Amendment of Section 80G (TAX ADMINISTRATION)

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

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

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532. 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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533. 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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534. AMENDMENTS TO THE CUSTOMS ACT, 1962

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535. AMENDMENTS TO THE CUSTOMS TARIFF ACT, 1975

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

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

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538. CUSTOMS - OTHER MISCELLANEOUS AMENDMENTS

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539. 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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540. Customs - Other notification changes

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

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

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543. CUSTOMS DUTY EXEMPTIONS / CONCESSIONS BEING ALLOWED TO LAPSE

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544. CUSTOMS - SOCIAL WELFARE SURCHARGE (SWS)

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

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546. Amendment of Central Excise Notification

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547. AMENDMENTS IN THE CGST ACT, 2017

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548. AMENDMENTS IN THE IGST ACT, 2017

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549. AMENDMENTS IN THE UTGST ACT, 2017

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

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