This article looks at the changes made by the Finance Act 2023 (which is the legislation as it relates to the tax year 2023–24) and should be read by those of you who are taking TX-UK in an exam in the period 1 June 2024 to 31 March 2025. The Finance (No. 2) Act 2023...
The Act aims to strike a balance between fiscal stability and economic growth while addressing emerging challenges in the digital economy, sustainable economic growth and improving the tax administration. This Alert summarizes the key amendments to the tax laws and regulatory legislation (including ...
The Finance Act, 2023 (the Act) was signed into law by the President on 26 June 2023. This Tax Alert summarizes the key changes contained in the Act. Unless specifically mentioned, the changes contained in this analysis were meant to take effect on 1 July 2023. However, on 30 June 2023...
Amendments/clarifications made in the Finance Act 2012 are summarised below: (a) Corporate dairy farming has also been made eligible for the tax credit. (b) It has been clarified that an industrial undertaking shall be considered to have been set up when it starts its production, whether on ...
Download Finance Act 2022 in PDF. Tax proposals for Salaried person. Amendments made by Finance Act, 2022 for AY 2023-24. Union Budget 2022. AUBSP inIncome Tax Share:WhatsAppTwitterFacebook Finance Act 2022:The Finance Minister, Smt. Nirmala Sitharaman has presented the Union Budget 2022-23 ...
Amendments to Income Tax Act, 1961 by the Finance Act, 2012: Death Knell for Dispute Resolutions Panels?Dispute Resolution Panelincome taxIndiaThis author in the article titled as 'Dispute Resolution Panels: Failed Solution Already' (2012) 341 ITR (Journal) 52 had examined the manner in which ...
Proposed Amendments The following are some of the notable amendments proposed by the Bill: 1. Capital Gains Tax (CGT) Act a) Expansion of the list of chargeable assets under the CGT Act to include digital assets. Thus, digital assets such as cryptocurrency and non-fungible tokens...
Through the Finance Act 2017, forty-six sections of the Income-tax Ordinance 1984 have been amended. But there are very few changes in individual taxation (for taxpayers with disability and manufacturer of tobacco products) and no changes in corporate tax rates. The revenue pressure on income ta...
The Finance (Miscellaneous Provisions) Act 2022 came into force on 2 August 2022 and amended several statutory legislations to provide for the implementation of the measures announced in the financial budget 2022-2023. This note highlights some of the amendment...
Amendments to the existing Climate Delegated Act The Climate Delegated Act was already adopted and has now been updated as a result of the Sustainable Finance Package. The amendments to the Climate Delegated Act add more criteria for the two climate objectives that were already covered by the Taxo...