TaxBuzz – Page 6 – Vaish Associates Advocates

Taxbuzz | Taxation Laws (Amendment) Ordinance, 2019 clarified by Circular No. 29 of 2019

Taxation Laws (Amendment) Ordinance, 2019 clarified by Circular No. 29 of 2019 The Taxation Laws (Amendment) Ordinance, 2019 (“the Ordinance”), promulgated by the President on 20.09.2019, had interalia introduced a new provision, viz., section 115BAA in the Income Tax Act, 1961 (“the Act”) providing for a lower rate of tax at 22% (plus applicable surcharge […]

Taxbuzz | The Taxation Laws (Amendment) Ordinance, 2019

With aim to provide fillip to the sluggish economy and promote growth and investment, the Government has by Ordinance made amendments in the Income Tax Act, 1961 (“the Act”) vide the Taxation Laws (Amendment) Act, 2019 which was promulgated by the President on 20.09.2019. Key features of the aforesaid amendments are as under: Section 115BAA […]