https://www.taxtmi.com/circulars?id=52651 The Finance Act, 2013 enacts broad direct tax amendments: it prescribes income tax rates and corresponding TDS/advance tax rates for 2013 14; inserts and amends substantive provisions including definitions of capital asset, valuation rules for immovable property transfers, and treatment of keyman insurance; creates targeted incentives (deduction for large investment in new plant and machinery, first home loan interest deduction, pass through status to qualifying AIFs); introduces withholding on certain property transfers and concessional withholding on specified rupee bonds; revises GAAR implementation and composition; and establishes special distribution taxes (buy back of unlisted shares, mutual funds, securitisation trusts) alongside procedural changes to audits, limitation periods and compliance reporting. en-us Fri, 24 Jan 2014 00:00:00 +0530 Thu, 20 Feb 2014 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52651 The Finance Act, 2013 enacts broad direct tax amendments: it prescribes income tax rates and corresponding TDS/advance tax rates for 2013 14; inserts and amends substantive provisions including definitions of capital asset, valuation rules for immovable property transfers, and treatment of keyman insurance; creates targeted incentives (deduction for large investment in new plant and machinery, first home loan interest deduction, pass through status to qualifying AIFs); introduces withholding on certain property transfers and concessional withholding on specified rupee bonds; revises GAAR implementation and composition; and establishes special distribution taxes (buy back of unlisted shares, mutual funds, securitisation trusts) alongside procedural changes to audits, limitation periods and compliance reporting. Circulars Income Tax Fri, 24 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52651