https://www.taxtmi.com/news?id=19520 The Finance Bill, 2018 sets new income tax rates and surcharges, updates withholding/collection and advance tax rules, and creates a ten percent tax on specified long term capital gains, with defined fair market valuation rules. It inserts accounting and computation standards for marked to market, foreign exchange gains and contract revenue recognition; limits deductions where returns are late; establishes electronic customs procedures, a Customs Authority for Advance Rulings, electronic cash ledger payments, and new Social Welfare and Road & Infrastructure cesses on imports and excisable goods; and makes consequential statutory amendments to savings schemes, securities and anti money laundering law with delegated rule making powers. en-us Thu, 01 Feb 2018 16:07:23 +0530 Wed, 11 Feb 2026 15:57:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19520 The Finance Bill, 2018 sets new income tax rates and surcharges, updates withholding/collection and advance tax rules, and creates a ten percent tax on specified long term capital gains, with defined fair market valuation rules. It inserts accounting and computation standards for marked to market, foreign exchange gains and contract revenue recognition; limits deductions where returns are late; establishes electronic customs procedures, a Customs Authority for Advance Rulings, electronic cash ledger payments, and new Social Welfare and Road & Infrastructure cesses on imports and excisable goods; and makes consequential statutory amendments to savings schemes, securities and anti money laundering law with delegated rule making powers. News - Thu, 01 Feb 2018 16:07:23 +0530 https://www.taxtmi.com/news?id=19520