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Amendment in taxation law

. 18 of 2017 [4th May, 2017. ] An Act further to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Central Sales Tax Act, 1956, the Finance Act, 2001 and the Finance Act, 2005 and to repeal certain enactments. The Taxation Laws (Amendment) Bill, 2019 (the "Bill") which has been passed by the Parliament will replace the Taxation Laws (Amendment) Ordinance, 2019 (the "Ordinance") promulgated by the President on 20th September 2019 to reduce corporate tax rates and enhanced surcharge on certain incomes by amending the Income Tax Act 1961 and Finance (No. Taxation Laws (Amendment) Bill, 2019: Replacing the Ordinance with key changes November 27, 2019 In brief On 20 September 2019, the Government announced fiscal stimulus in the form of major tax changes, reducing the corporate income-tax rate of domestic companies to, inter alia, attract investment, generate employment and boost the economy of The salient features of the Taxation Laws (Amendment) Ordinance, 2019, as explained by the Ministry of Finance, are as follows: (i) Government brings in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act,1961 and the Finance (No. The law in prescribing the time when such complaints will be heard, gives all the notice required, and the proceedings by which the valuation is determined, though it may be followed, if the tax be not paid, by a sale of the delinquent’s property, is due process of law. Nirmala Sitharaman, as scheduled, presented the Taxation Laws (Amendment) Bill (Bill) in the winter session of the Parliament, to replace the Income-tax Ordinance (ordinance) introduced in September 2019. Such amendments become part of the income tax act after the approval of the president of India. Amendment of paragraph 6 of Second Schedule to Act 58 of 1962, as substituted by section 62 of Act 17 of 2009 and amended by section 84 of Act 7 of 2010, section 92 of Act 24 of 2011, section 99 of Act 22 of 2012, section 113 of Act 31 of 2013, section 87 of Act 25 of 2015, section 64 of Act 17 of 2017 and section 65 of Act 23 of 2018 2. 2) Act 2019 effective from Financial Year 2019-20. 2) Act, 2019. It was passed during …THE TAXATION LAWS (AMENDMENT) ACT, 2017 No. The Act has put to rest certain issues and controversies that had emanated from the …The Hon'ble Finance Minister of India Ms. ”497TAXATION LAWS (AMENDMENT) ACT, 2019 with effect from 20th day of September, 2019. Also Read-Taxation Laws (Amendment) Ordinance, 2019. "The Taxation Laws (Second Amendment) Act, 2016" is an amendment Act, No. 48 of 2016, to Income-tax Act, 1961 and The Finance Act, 2016. The Ordinance, with some modifications, has now been enacted as the Taxation (Laws) Amendment Act, 2019 (“Act”), after clearance from both the houses of Parliament followed by the Presidential assent on 11 December 2019. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 12th December, 2019. The Bill aims to put to rest lot of issues and controversies that arose when the Ordinance was issued

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