Govt invites comments on long-term capital gains clause
Posted Date : 24-Apr-2018 , 11:20:06 am | Posted By CASANSAAR
The Finance Act, 2018 has withdrawn the exemption under clause (38) of Section 10 of the Income-tax Act, 1961 (the Act) and has introduced a new section 112A in the Act, to provide that long term capital gains arising from transfer of a long-term capital asset being an equity share in a company or a...
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Changes in the Finance Bill that will affect your Money Matters
Posted Date : 16-Mar-2018 , 12:16:13 am | Posted By CASANSAAR
The Lok Sabha passed the Finance Bill 2018 and the Appropriation Bill on Wednesday and it is scheduled to become law by April 1 once President Ram Nath Kovind signs off on it. The finance minister, Arun Jaitley, moved 21 amendments to the Bill, which contains taxation proposals for 2018-19. Once thi...
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Govt introduces Bill to amend the PMLA Act, 2002 through Finance Act, 2018
Posted Date : 02-Feb-2018 , 09:18:32 am | Posted By CASANSAAR
Following amendments have been made in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018. The Amendments aim at further enhancing the effectiveness of the Act, widen its scope and take care of certain procedural difficulties faced by the Enforcement Directorate in prosecut...
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Cabinet approves setting up of the 15th Finance Commission
Posted Date : 23-Nov-2017 , 09:17:18 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the setting up of the 15thFinance Commission. Under Article 280 (1) of the Constitution,it is a Constitutional obligation. The Terms of Reference for the 15thFinance Commission will be notified in due course of time.
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Finance Bill gets presidential assent, takes effect from 1st April
Posted Date : 01-Apr-2017 , 05:43:16 pm | Posted By CASANSAAR
President Pranab Mukherjee has given his assent to the Finance Bill 2017 to give effect to provisions like bar on cash transactions above Rs 2 lakh and compulsory quoting of Aadhaar for filing tax returns.
"The President was kind enough to give his assent to the Finance Bill before he left f...
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Parliament passes Finance Bill 2017 after Lok Sabha rejects 5 amendments
Posted Date : 30-Mar-2017 , 08:58:22 pm | Posted By CASANSAAR
Parliament has passed the Finance Bill 2017 after the Lok Sabha rejected all five amendments moved to it by the Rajya Sabha. The bill seeks to give effect to the financial proposals of the Central Government for the financial year 2017-18.
The amendments of the Upper House included curbing ...
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Rajya Sabha return Finance Bill, 2017 with amendments
Posted Date : 30-Mar-2017 , 10:19:58 am | Posted By CASANSAAR
The Rajya Sabha on Wednesday returned the Finance Bill, 2017 to the Lok Sabha with five amendments.
The move came after the House discussed the Bill for over five hours on Tuesday and Wednesday. The Bill that was passed earlier by the Lok Sabha was moved in the Upper House on Monday.
Senior Co...
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Seventeen Acts to be amended through Finance Bill
Posted Date : 23-Mar-2017 , 09:48:33 am | Posted By CASANSAAR
The government plans to dissolve eight appellate tribunals immediately while also making enabling provisions in 17 legislation to bring amendments through notifications. The eight tribunals are being dissolved through the Finance Bill, 2017.
The amendments also state that the central government w...
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Finance Bill is now Finance Act, date for levy of 14% service tax to be notified
Posted Date : 16-May-2015 , 09:58:57 pm | Posted By CASANSAAR
President Pranab Mukherjee has given his assent to the Finance Bill, 2015. It means various provisions such as the new taxation norms and merger of the Forward Market Commission with the Securities and Exchange Board of India, besides others, will now be part of an Act and will be implemented accord...
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Finance Bill 2015 gets President Assent
Posted Date : 15-May-2015 , 07:50:55 am | Posted By CASANSAAR
Finance Bill 2015 gets President Assent and becomes Fiance Act 2015.
Hon’ble President has given assent to Finance Bill, 2015 and now it became Finance Act (No.20)2015.
Notification for effective date regarding increase in service tax rate from 12.36% to 14% is still awaited.
No...
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Govt withdraws PDMA, RBI Bill provisions from Finance Bill
Posted Date : 01-May-2015 , 08:27:28 am | Posted By CASANSAAR
Finance Minister Arun Jaitley on Thursday withdrew the clauses from the Finance Bill pertaining to setting up of a public debt management agency (PDMA) and the amendments to the Reserve Bank of India (RBI) Act that would have taken away Mint Road's powers to regulate government securities. The m...
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Lok Sabha passes Finance Bill 2015 by a voice vote.
Posted Date : 01-May-2015 , 08:26:24 am | Posted By CASANSAAR
The Lok Sabha has passed the Finance Bill 2015, by a voice vote. The Bill seeks to give effect to the financial proposals of the central government for the year 2015-16. Replying to a debate on the Bill, Finance Minister Arun Jaitley announced a number of measures for common man, rubber growers and ...
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