TMC leader Derek O’Brien has urged Finance Minister Nirmala Sitharaman to “urgently review” and withdraw the 18 percent GST on health and life insurance premiums during the upcoming GST Council meeting. “The 18 per cent Goods and Services Tax (GST) on health and life insurance premiums is a burden on 45 crore Indians comprising … Read more
Finance Bill 2024: Union Finance Minister Nirmala Sitharaman on Wednesday said that the government has successfully brought in a simplified tax structure. While replying to the discussion on the Finance Bill in Lok Sabha, FM Sitharaman said that the claim that corporate taxes are lower than the individual taxes claim is not well founded. While replying … Read more
Finance Minister Nirmala Sitharaman will propose the Finance Bill for FY 2024-2025 in the Lok Sabha on Tuesday, aiming for its consideration and passing. This bill is crucial for enacting the Budget proposals, which need approval from both houses of Parliament. Presented on July 23, the FY25 Budget has been under discussion in Parliament since … Read more
In a relief to REITs and InVITs, the Finance Bill on Friday proposed to treat distribution from business as return of capital. While presenting the Union Budget on February 1, the government had proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of … Read more
NEW DELHI: Finance Minister Nirmala Sitharaman‘s latest move to increase securities transaction tax (STT) on selling options has left traders confused. The latest amendment to Finance Bill 2023 passed by the Lok Sabha today shows that the STT on selling of options has gone up from 0.017% to 0.021%. However, NSE website shows that with … Read more
NEW DELHI: Lok Sabha was adjourned on Saturday as the first phase of the Budget session concluded. The House would reconvene on March 8 after recess. The Budget session usually is held in two phases. In the first phase, the President addresses the two Houses as it is the first session of the year. The … Read more
By Rameesh KailasamBudget 2020 introduced Section 194-O of the Income-Tax (I-T) Act. Its primary intent was to widen the tax base by bringing the ecommerce ecosystem into it. Participants in this ecosystem, it was believed, neither paid taxes nor filed their tax returns, thereby escaping tax liability.194-O exempted non-resident ecommerce participants, set a ceiling limit … Read more