CAclubindia News

Amendment to Section 2(14): Clarity on 'Capital Asset' Definition for Investment Funds' Securities

01 February 2025 at 16:05

Amendment of Definition of 'Capital Asset'Section 2(14) of the Act defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock in-trade

Posted in Union Budget | 147 Views

Clarity on Taxation of ULIPs: Amendments to Section 10(10D) and Capital Gains Tax on Redemption

01 February 2025 at 16:03

Bringing clarity in income on redemption of Unit Linked Insurance Policy Clause (10D) of section 10 provides for income-tax exemption on the sum received under a life insurance policy, including bonus on such policy.

Posted in Union Budget | 1950 Views

Budget 2025: Key Amendments to Section 9 for Non-Residents

01 February 2025 at 16:03

Harmonisation of Significant Economic Presence applicability with Business Connection Section 9 of the Act provides for income which shall be deemed to accrue or arise in India.

Posted in Union Budget | 285 Views

Rationalization of Taxation for Business Trusts: Key Amendments in the Finance (No. 2) Act, 2024

01 February 2025 at 16:02

Rationalisation in taxation of Business trustsFinance (No.2) Act, 2014 introduced a special taxation regime for Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InVIT) [commonly referred to as business trusts].

Posted in Union Budget | 234 Views

Indirect Tax Reforms Unveiled in Finance Bill 2025: Key Highlights

01 February 2025 at 14:51

The Finance Bill, 2025, introduces a comprehensive overhaul of India's indirect tax framework, with significant amendments across Customs, Central Excise, and Goods and Services Tax (GST) laws.

Posted in Union Budget | 2169 Views

FDI Limit in Insurance Sector Increased from 74% to 100% to Boost Investment

01 February 2025 at 14:18

FORUM FOR REGULATORY COORDINATION AND DEVELOPMENT OF PENSION PRODUCTS TO BE SET UP: UNION BUDGET 2025-26ROLL OUT OF REVAMPED CENTRAL KYC REGISTRY PLANNED IN 2025PROCEDURES FOR SPEEDY APPROVAL OF COMPANY MERGERS TO BE RATIONALIZED, PROCESS TO BE MADE

Posted in Union Budget | 132 Views

Budget 2025-26 Proposes Removal of 7 Customs Tariff Rates for Industrial Goods

01 February 2025 at 14:17

UNION BUDGET 2025-26 PROPOSES TO REMOVE SEVEN CUSTOMS TARIFF RATES FOR INDUSTRIAL GOODS

Posted in Union Budget | 522 Views

Direct Tax Reforms proposed in Budget 2025-26 to achieve Good Governance

01 February 2025 at 14:16

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Union Budget 2025-26, in the Parliament today. A slew of Direct Tax reforms were proposed

Posted in Union Budget | 243 Views

Budget 2025-26: No Income Tax on Annual Income Upto Rs. 12 Lakh Under New Tax Regime

01 February 2025 at 14:16

Discover key highlights of Budget 2025-26, including the major announcement of no income tax on annual income up to Rs. 12 lakh under the new tax regime. Learn how this impacts taxpayers

Posted in Union Budget | 1623 Views

Key Highlights of the Union Budget 2025-26

01 February 2025 at 13:07

Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today.

Posted in Union Budget | 8499 Views