https://www.taxtmi.com/article/detailed?id=1638 Income tax rates were restructured into multiple slabs, adjusting taxpayer marginal rates. Withholding and collection rules were broadened: new TDS/TCS requirements on interest to certain non residents, on immovable property transfers to non residents above thresholds, and 1% collection on specified bullion, jewellery and mineral transactions; professional payments to directors were brought within withholding scope. The AMT was extended to non company taxpayers claiming certain deductions, with an adjusted total income threshold; the Direct Tax Code implementation was deferred. Indirect tax changes include a higher service tax rate, excise and customs duty adjustments, sectoral exemptions, and proposals on FDI and external commercial borrowings. en-us Sat, 17 Mar 2012 10:59:35 +0530 Sat, 14 Sep 2013 23:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1638 Income tax rates were restructured into multiple slabs, adjusting taxpayer marginal rates. Withholding and collection rules were broadened: new TDS/TCS requirements on interest to certain non residents, on immovable property transfers to non residents above thresholds, and 1% collection on specified bullion, jewellery and mineral transactions; professional payments to directors were brought within withholding scope. The AMT was extended to non company taxpayers claiming certain deductions, with an adjusted total income threshold; the Direct Tax Code implementation was deferred. Indirect tax changes include a higher service tax rate, excise and customs duty adjustments, sectoral exemptions, and proposals on FDI and external commercial borrowings. Articles Budget - Tax Proposals Sat, 17 Mar 2012 10:59:35 +0530 https://www.taxtmi.com/article/detailed?id=1638