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