https://www.taxtmi.com/circulars?id=11675 The Finance Act, 2012 introduces targeted amendments: a tax exemption for Prasar Bharati effective 1 April 2013; substantive modification and one year deferral of GAAR with Revenue bearing onus, addition of an independent law member to the GAAR Approving Panel and AAR access for taxpayers; retention of VCC/VCF exemptions from TDS/DDT; extension of a 5% withholding rate for external borrowings and approved infrastructure bonds to all businesses; a 10% concessional tax rate on long term capital gains for non resident transfers of unlisted securities; treatment of excess share premium as income with potential notified exemptions; new retail equity deduction under section 80CCG; various TCS/TDS threshold adjustments; withdrawal of proposed TDS on immovable property transfers; and clarifications on DRP and TDS procedural language. en-us Tue, 12 Jun 2012 00:00:00 +0530 Wed, 13 Jun 2012 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11675 The Finance Act, 2012 introduces targeted amendments: a tax exemption for Prasar Bharati effective 1 April 2013; substantive modification and one year deferral of GAAR with Revenue bearing onus, addition of an independent law member to the GAAR Approving Panel and AAR access for taxpayers; retention of VCC/VCF exemptions from TDS/DDT; extension of a 5% withholding rate for external borrowings and approved infrastructure bonds to all businesses; a 10% concessional tax rate on long term capital gains for non resident transfers of unlisted securities; treatment of excess share premium as income with potential notified exemptions; new retail equity deduction under section 80CCG; various TCS/TDS threshold adjustments; withdrawal of proposed TDS on immovable property transfers; and clarifications on DRP and TDS procedural language. Circulars Income Tax Tue, 12 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11675