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Monday, February 17, 2020

Finance Act

FINANCE ACT NEWS

Finance Act: Tribunal rules struck down, Govt told to draw fresh norms

November 14, 2019 7:04 am

The Bench, also comprising Justices N V Ramana, D Y Chandrachud, Deepak Gupta and Sanjiv Khanna, said the amendments are struck down in entirety as these are “contrary to the principles envisaged in the Constitution as interpreted by this Court”.

SC scraps Finance Act rules on tribunals, larger bench to decide if passing Act as Money Bill valid

November 13, 2019 4:06 pm

The court has directed the government to frame fresh rules for the appointment of members to various tribunals, such as the NGT and the Income Tax Appellate Tribunal.

Supreme Court notice to Centre on plea challenging Finance Act

July 29, 2017 3:32 am

The impugned sections, appearing in Chapter XIV of the Act, were “unconstitutionally certified as Money Bill” to bypass the requirement to get the assent of both Houses of Parliament, the petition stated.

Foreign accounts: I-T Act in need of amendments for greater clarity

February 16, 2015 12:31 am

IF NRIs’ assessments are re-opened for last 16 years, it will be very difficult to explain the detail of each and every credit their source.

For ‘super rich’ it’s pay tax now, may get refund later

February 19, 2014 5:54 am

For individual tax payers, the deadline for the first tranche of advance tax payments is September 15, by when the Finance Act would be passed.

Indian envoy in UK red-flags back tax: Investors nervous

February 08, 2014 5:30 am

Income-Tax Department in a Jan 22 order claimed that Cairn Energy made capital gains of Rs 24,503.50 crore when it transferred its entire India business from subsidiaries incorporated in Jersey.

Nigdi firm in the dock for evading Rs 75-lakh tax

December 05, 2013 3:21 am

Proprietor of Creative Constructions held.

CBEC calls for restraint in arresting tax evaders

October 01, 2013 3:44 am

Wants officers to use measures judiciously and with caution.

Taxation: TDS realty

August 27, 2013 3:55 am

For any purchase of immovable property for over Rs 50 lakh,the buyer will have to deduct TDS of 1% from the amount paid to the seller