In the budget 2023 Hon’ble Finance Minister had brough up several changes in Income Tax Act , from changes in income tax slabs to tax rebate limit raised, No LTCG tax benefit on some debt mutual funds, taxability of life insurance policies are some of the major changes effective from 1 April 2023. 1) New
Specified category of persons are exempted from obtaining GST registration: It has been proposed to amend Section 23(2) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) with a non-obstante clause, that too retrospectively applicable w.e.f July 1, 2017, so as to provide that, persons required to take registration in GST as
Key Highlights of Budget 2021: Impact on Direct and Indirect Tax DIRECT TAX CHANGES No change in tax rates The time limit for assessment reduced to 9 months from 12 months from the end of the relevant Assessment Year. Time limits for issuing intimation us 143(1) reduced to 9 months going forward from
