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FINANCE BILL 2023
Changes in FEMA rules: Debit, credit cards to have parity; business visits of employees exempted from LRSThe ministry said since credit card spending overseas has now been brought under LRS, such remittances would be liable to tax collected at ...- Rising complications for corporates in ITC claims under GSTThe changes in ITC rules have added responsibilities on businesses to reconcile and communicate with vendors more often. Businesses must ta...
- Customs duty recast may make telecom gear imports costlierOfficials aware of the details said while most telecom products attract 20% customs duty, there are some nil duty items and several in the ...
- How will the amendment in the finance bill 2023 affect debt mutual funds?In addition to debt mutual fund schemes, there are several other categories that are treated as debt for taxation, which will lose indexati...
- TDS on all winnings from online gaming to come into effect from April 1: Budget 2023The government has revised the effective date from which TDS on winnings from online games will be deducted. The amendment was made at the ...
- Parliament approves Budget for 2023-24 amid dinThe passage of the Finance Bill completes the budgetary exercise for 2023-24. Rama Devi, who was in the Chair, adjourned the House for the ...
- Finance Minister moves amendment to Finance Bill to correct STT rateThe amended Finance Bill 2023, which has corrected the STT rates, has been sent back to the Lok Sabha. The Bill is expected to be finalised...
- Rajya Sabha passes and returns Jammu and Kashmir Appropriation (No 2) Bill, Finance BillMinutes after Finance Minister Nirmala Sitharaman moved the 'The Jammu and Kashmir Appropriation (No 2) Bill, 2023' and 'The Appropriation ...
- How removal of tax benefits from debt mutual funds impacts AMC stocksIncreasing taxation (insurance, MFs, trading) can roll back some of the household savings into asset classes like fixed deposits, real esta...
- New tax amendments may make conventional debt instruments like FDs, G-Secs attractiveAccording to the amendment to the Finance Bill, income from investments in debt mutual funds where not more than 35% is invested in equity ...
- Government hikes duty on X-ray machine imports to 15 pc from Apr 1The changes in the customs duty rate was brought in as part of the amendments to the Finance Bill, 2023, which was passed by the Lok Sabha ...
- Retro amendment clears key GST doubt, but opens door for further litigationThe Finance Bill proposes to do away with GST on merchant trade, in-bond sale and high sea sales. But by not refunding the tax collected un...
- It's advantage FD with debt mutual funds set to lose popularityIndexation benefit in debt mutual funds that lowered the tax outgo for investments held for more than three years has been removed. With th...
- Nirmala Sitharaman hikes STT on sale of options and futures by 25%In the Finance Bill 2023, which was passed by the Lok Sabha today, Sitharaman also hiked STT by 25% on sale of futures contracts.
- Individual taxpayers with income marginally over Rs 7 lakh to get relief under new tax regimeThe Finance Bill 2023, passed by the Lok Sabha on Friday, has proposed a marginal relief to taxpayers under new tax regime. Explaining the ...
- Lok Sabha passes Finance Bill, set to tax investors heavily from AprilThe Finance Bill, 2023 was passed in the Lok Sabha on Friday amidst sloganeering by opposition members for setting up a JPC in the Adani-Hi...
- GST tribunal, InVITs among likely 60 changes to Finance BillFinance minister Nirmala Sitharaman is expected to move around 60 changes to the Finance Bill, 2023 when it is taken up for passage in the ...
- PPF, SCSS, Sukanya Samriddhi, other small savings schemes: What happens if an accountholder dies without nominee; govt clarifiesPPF, SCSS, Sukanya Samriddhi, other small savings schemes: The Finance Bill 2023 has proposed to amend the Government Savings Promotion Act...
- I-T dept to come out with modified valuation norms for taxing foreign investments in unlisted cosThe Finance Bill, 2023 has proposed amending Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely h...
- Input Tax Credit cannot be claimed on goods/services used for CSR activities: Budget 2023KPMG in India Partner, Indirect Tax, Abhishek Jain said the Finance Bill proposes to restrict input tax credit paid on goods and services u...
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