No tax to be deducted at source in respect of interest on compensation amount awarded by Motor Accidents Claims Tribunal to an individual As per the provisions of section 393(4) [Table: Sl. No. 7, Column C (c)(iv)] of the Act, tax is not required to be deducted in respect of interest on the compensation amount… Read More »
THE THRESHOLD FOR AVAILING SAFE HARBOUR FOR IT SERVICES ENHANCED FROM RS 300 CRORE TO Rs 2000 CRORE SAFE HARBOUR FOR IT SERVICES SHALL BE APPROVED BY AN AUTOMATED RULE-DRIVEN PROCESS The Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2026-2027 in the Parliament today. Presenting the Budget, the… Read More »
‘Bharat-VISTAAR’-a multilingual AI tool to enhance farm productivity, improve farmer decision making and reduce risk through customized advisory support, proposed in the Union Budget 2026-27 15,000 secondary schools and 500 colleges to have Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs to boost India’s Orange Economy Union Budget proposes a High-Powered ‘Education to… Read More »
FINANCE MINISTER NIRMALA SITHARAMAN INTRODUCES A DEDICATED ₹10,000 CRORE SME GROWTH FUND, TO CREATE FUTURE CHAMPIONS, INCENTIVIZING ENTERPRISES BASED ON SELECT CRITERIA UNION BUDGET PROPOSES 4 MEASURES TO LEVERAGE FULL POTENTIAL OF TReDS FOR LIQUIDITY SUPPORT TO MSMEs Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman said that the Government led by Prime… Read More »
TARIFF RATE ON ALL DUTIABLE GOODS IMPORTED FOR PERSONAL USE TO BE REDUCED FROM 20% TO 10% BASIC CUSTOMS DUTY TO BE EXEMPTED ON 17 DRUGS OR MEDICINES FOR PATIENTS, PARTICULARLY CANCER-PATIENTS SEVEN MORE RARE DISEASES TO BE ADDED FOR THE PURPOSES OF EXEMPTING IMPORT DUTIES ON PERSONAL IMPORTS OF DRUGS AND FSMP DUTY DEFERRAL … Read More »
BIOPHARMA SHAKTI (STRATEGY FOR HEALTHCARE ADVANCEMENT THROUGH KNOWLEDGE, TECHNOLOGY AND INNOVATION) PROPOSED IN THE UNION BBUDGET 2026-27 EXISTING ALLIED HEALTH PROFESSIONALS (AHPs) INSTITUTIONS TO BE UPGRADED AND 100,000 NEW AHPs TO BE ADDED OVER THE NEXT 5 YEARS CARE ECOSYSTEM FOR GERIATRIC AND ALLIED CARE SERVICES TO BE BUILT, 1.5 LAKH CAREGIVERS TO BE TRAINED… Read More »
BUDGET PROPOSALS FOR CUSTOMS AND CENTRAL EXCISE AIM TO FURTHER SIMPLIFY TARIFF STRUCTURE, SUPPORT DOMESTIC MANUFACTURING: UNION FINANCE MINISTER UNION BUDGET 2026-27 PROPOSES SEVERAL BASIC CUSTOMS DUTY EXEMPTIONS TO ENSURE ENERGY TRANSITION AND SECURITY BCD EXEMPTIONS PROPOSED FOR MANUFACTURE AND MRO REQUIREMENTS IN CIVIL AND DEFENCE AVIATION BUDGET PROPOSES FACILITATING SALES BY ELIGIBLE MANUFACTURING UNITS… Read More »
Union Budget 2026-27 lays emphasis on Scaling up manufacturing in 7 strategic and frontier sectors To develop India as a global Biopharma manufacturing hub, the Budget proposes Biopharma SHAKTI with an outlay of ₹ 10,000 crores over next 5 years India Semiconductor Mission 2.0 announced to produce equipment and materials, design full-stack Indian IP, and… Read More »
UNION BUDGET 2026-27 FOCUSES ON 3 KARTAVYAS OF SUSTAINABLE ECONOMIC GROWTH, CAPACITY BUILDING AND SABKA SATH, SABKA VIKAS BUDGET 2026-27 IS A UNIQUE YUVA SHAKTI-DRIVEN BUDGET: FINANCE MINISTER Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman while presenting the Union Budget 2026-2027 in Parliament today, proposed 3 kartavyas to speed-up the reform momentum… Read More »
Exemption on interest income under the Motor Vehicles Act, 1988 Exiting section 11 of the Income-tax Act, 2025 inter alia provides for the exemption of income of persons included in Schedule III subject to the fulfilment of conditions specified therein. 2. The provisions of Motor Vehicles Act, 1988 inter alia provides for compensation and interest… Read More »