New Chapter 9: Section 65D – Gains or Profits from the Disposal of Capital Asset – Application
Finance (No. 2) Bill 2023 proposes that New Chapter 9 be introduced. Part III of the Income Tax Act 1967 is amended by inserting after Chapter 8 the following chapter: “Chapter 9 – Gains or Profits from the Disposal of Capital Asset“ Application of Chapter 9 Section 65D. (1) This Chapter shall apply for ascertaining […]
New Chapter 9: Section 65C – Gains or profits from the Disposal of Capital Asset – Interpretation
Finance (No. 2) Bill 2023 proposes that New Chapter 9 be introduced. Part III of the Income Tax Act 1967 is amended by inserting after Chapter 8 the following chapter: “Chapter 9 – Gains or Profits from the Disposal of Capital Asset“ Interpretation of Chapter 9 Section 65C. In this Chapter, unless the context otherwise […]
Service Tax Act 2018: Amendment of Section 91 – Power To Make Regulations
“Section 91 – Power To Make Regulations” is read as follows:- 91(1) [Power to make regulations] The Minister may make regulations as may be necessary or expedient for the purposes of carrying into effect the provisions of this Act. 91(2) [Purpose of regulations] Without prejudice to the generality of subsection (1), Minister may prescribe— 91(2) […]
Service Tax Act 2018: Amendment of Section 81 – Review And Appeal
“Section 81 – Review And Appeal” is read as follows:- 81(1) [Application for review] Any person aggrieved by any decision of the Director General may apply to the Director General for review of any of his decision within thirty days from the date the person has been notified of such decision provided that no appeal […]
Service Tax Act 2018: Amendment of Section 75 – Transaction Of Business On Behalf Of Any Person
“Section 75 – Transaction Of Business On Behalf Of Any Person” is read as follows:- 75(1) [Transaction on behalf of taxable person] Subject to section 74, no person shall transact any business in relation to this Act on behalf of any taxable person, or any person other than a taxable person who, in carrying on […]
Service Tax 2018: Amendment of Sections 56C & 56H: On Digital Services
“Sections 56C – application for registration of foreign service provider” is read as follows:- 56C(1) Any foreign service provider who is liable to be registered under subsection 56B(2) shall apply to the Director General for registration in the prescribed form not later than the last day of the month following the month in which he […]
Service Tax Act 2018: Amendment of Section 42: On Customs Ruling
“Section 42 – Customs Ruling” is read as follows:- 42(1) [Application made in prescribed form with prescribed fee] Any person may apply, in the prescribed form together with the prescribed fee, to the Director General for a customs ruling in respect of any one or more of the following matters: 42(2) [Timing for application] An […]
Service Tax Act 2018: Amendment of Sections 38 & 39: On Exemption, Refund And Remission
“Section 38 – Refund of Service Tax, etc., Overpaid or Erroneously Paid” is read as follows:- 38(1) [Claim for refund] Any person who— may make a claim for refund in the prescribed form. 38(2) [Timeframe] A claim for refund under subsection (1) shall be made to the Director General within one year from the time— […]
Service Tax Act 2018: Amendment of Sections 26 & 26A: On Accounting, Assessment, Recovery, etc.
“Section 26 Furnishing of Returns and Payment of Service Tax Due and Payable” is read as follows:- 26(1) [Furnishing of return] Every taxable person shall, in respect of his taxable period, account for the service tax due in a return as may be prescribed and the return shall be furnished to the Director General in […]
Service Tax Act 2018: Amendment of Sections 13, 14 & 17: On the Registration
“Section 13 – Application For Registration” is read as follows:- 13(1) [Application for registration] Any person who is liable to be registered under section 12 shall apply to the Director General for registration as a registered person in the prescribed form not later than the last day of the month following the month in which […]
