https://www.taxtmi.com/circulars?id=2850 The Finance (No. 2) Act, 2004 enacts comprehensive direct-tax changes: specifies income tax/TDS/advance tax rates with surcharges and education cess; expands taxable income to include gratuitous receipts above a threshold (with exclusions); implements the New Pension Scheme deduction and treats government matching contributions as salary; tightens TDS/TCS reporting and identification through a common deduction/collection number and dematerialised statement-based credit; introduces Securities Transaction Tax with related capital-gains treatment; and establishes an elective tonnage-tax regime for qualifying shipping companies with detailed computation, compliance, reserve and anti abuse rules. en-us Fri, 15 Jul 2005 00:00:00 +0530 Mon, 11 Aug 2008 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2850 The Finance (No. 2) Act, 2004 enacts comprehensive direct-tax changes: specifies income tax/TDS/advance tax rates with surcharges and education cess; expands taxable income to include gratuitous receipts above a threshold (with exclusions); implements the New Pension Scheme deduction and treats government matching contributions as salary; tightens TDS/TCS reporting and identification through a common deduction/collection number and dematerialised statement-based credit; introduces Securities Transaction Tax with related capital-gains treatment; and establishes an elective tonnage-tax regime for qualifying shipping companies with detailed computation, compliance, reserve and anti abuse rules. Circulars Income Tax Fri, 15 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2850