While presenting Budget 2018, one of the biggest announcements made by the government was to bring back Long Term Capital Gains Tax on equity investments. This had been removed in October 2004, and a new Securities Transaction Tax had been introduced at the time. According to a circular from the Central Board of Direct Taxes…
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The Government delivered Budget 2018 today, its final full budget before general elections next year. Standard deduction and tax on Long Term Capital Gains (LTCG) have made a comeback, income tax slabs remain unchanged, and while the salaried class and financial markets did not have much cause to celebrate, there was some good news for…
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Less than a week left as this rollercoaster ride of 2017 draws to a close. In India, GST finally became a reality after years of wait and watch. While linking of Aadhaar with most services seems inevitable, there was a temporary reprieve as the Supreme Court extended the Aadhaar linking deadlines to March 31,…
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The Supreme Court has extended all Aadhaar linking deadlines to March 31, 2018. In its order dt. December 15, 2017, the court confirmed that this would apply to linking of PAN, bank accounts, mobile numbers, other financial services (like credit cards, stockbroking and mutual fund accounts), as well as welfare schemes run by the central…
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After the introduction of GST on 01-Jul-17, the Government introduced different rates for GST on restaurant bills – non AC (12%) and AC restaurants (18%). Various taxes and cess were brought under a GST rate. However, Service Charge continues to exist, and so does VAT. During its 23rd meeting recently on 10-Nov-17, the GST Council has…
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