TaxTonic Budget Special: Analysis of 11 Direct Tax Googlies in Finance Bill!
- Year of Publication: 2023
- ISBN: 0
Episode Duration:
145 minutes
Episode Background:
'TaxTonic', a 'subscriber only' thought leadership series, is Taxsutra's endeavour to consistently deliver top notch technical content to it's readers. The labyrinth of tax rulings on convoluted transactions keeps the world of taxation unpredictable and ever-evolving. This series will feature engrossing presentations, incisive analyses and a deep-dive by the tax experts on burning issues & controversies. So, gear up for a 'tonic' to chisel your tax mind and challenge your wit.
Speakers:
- Mr. Neeraj Jain (Vaish Associates Advocates)
- Mr. Rohit Jain (Vaish Associates Advocates)
Moderator:
Mr. Sachin Sastakar (Chartered Accountant)
What shall the episode cover?
The Union Budget 2023 arrived with over 120 proposals to amend the Income-tax Act, 1961. While most of the proposed amendments are clarificatory or corrective, some of them could unsettle legal positions. On the positive side, there are Direct Tax proposals extending relief on taxation of individual taxpayers and startups apart from addressing the crisis at the first appellate level.
In the next edition of TaxTonic, Taxsutra presents an episode on 11 handpicked Direct Tax proposals that have kept the tax community abuzz.
The episode extensively analysed the following:
1. Socio economic impact of new tax regime - 115BAC
2. Charitable Trust related amendments
3. Applicability of Angel Tax provisions to Non-residents
4. Amendments related to Startups under Sections 80-IAC and 79
5. Taxation of distribution made by “Business Trusts”
6. TCS rates changes on Foreign Remittances through LRS and payment for Overseas Package Tours
7. Sec. 28 and Sec. 194R amendments including impact due to possible reversal of Apex Court judgment in Mahindra & Mahindra
8. Amendments relating to Joint Commissioner of Income-tax (Appeals)
9. MSME – Impact of Section 43B amendment
10. Search & Seizure - Amendment allowing assistance from other officers, its scope and implications
11. Withholding of Refunds – Fairness and Constitutional Challenges, if any
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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- Year of Publication: 2023
- ISBN: 0
Episode Duration:
145 minutes
Episode Background:
'TaxTonic', a 'subscriber only' thought leadership series, is Taxsutra's endeavour to consistently deliver top notch technical content to it's readers. The labyrinth of tax rulings on convoluted transactions keeps the world of taxation unpredictable and ever-evolving. This series will feature engrossing presentations, incisive analyses and a deep-dive by the tax experts on burning issues & controversies. So, gear up for a 'tonic' to chisel your tax mind and challenge your wit.
Speakers:
- Mr. Neeraj Jain (Vaish Associates Advocates)
- Mr. Rohit Jain (Vaish Associates Advocates)
Moderator:
Mr. Sachin Sastakar (Chartered Accountant)
What shall the episode cover?
The Union Budget 2023 arrived with over 120 proposals to amend the Income-tax Act, 1961. While most of the proposed amendments are clarificatory or corrective, some of them could unsettle legal positions. On the positive side, there are Direct Tax proposals extending relief on taxation of individual taxpayers and startups apart from addressing the crisis at the first appellate level.
In the next edition of TaxTonic, Taxsutra presents an episode on 11 handpicked Direct Tax proposals that have kept the tax community abuzz.
The episode extensively analysed the following:
1. Socio economic impact of new tax regime - 115BAC
2. Charitable Trust related amendments
3. Applicability of Angel Tax provisions to Non-residents
4. Amendments related to Startups under Sections 80-IAC and 79
5. Taxation of distribution made by “Business Trusts”
6. TCS rates changes on Foreign Remittances through LRS and payment for Overseas Package Tours
7. Sec. 28 and Sec. 194R amendments including impact due to possible reversal of Apex Court judgment in Mahindra & Mahindra
8. Amendments relating to Joint Commissioner of Income-tax (Appeals)
9. MSME – Impact of Section 43B amendment
10. Search & Seizure - Amendment allowing assistance from other officers, its scope and implications
11. Withholding of Refunds – Fairness and Constitutional Challenges, if any
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
