Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Taxation of capital gains proposed to be rationalized and simplified. Holding periods reduced to two categories: 12 months for listed securities, 24 months for other assets. Short-term capital gains rate on STT paid equity shares, equity oriented mutual funds, and business trusts increased to 20%. Long-term capital gains rate unified at 12.5% for all assets, with exemption of up to 1.25 lakh for STT paid equity shares, equity oriented funds, and business trusts. Indexation for long-term capital gains removed. Parity in taxation between residents and non-residents. Withholding tax provisions aligned. Changes effective from July 23, 2024.
Taxation of capital gains proposed to be rationalized and simplified. Holding periods reduced to two categories: 12 months for listed securities, 24 months for other assets. Short-term capital gains rate on STT paid equity shares, equity oriented mutual funds, and business trusts increased to 20%. Long-term capital gains rate unified at 12.5% for all assets, with exemption of up to 1.25 lakh for STT paid equity shares, equity oriented funds, and business trusts. Indexation for long-term capital gains removed. Parity in taxation between residents and non-residents. Withholding tax provisions aligned. Changes effective from July 23, 2024.
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