https://www.taxtmi.com/acts?id=31897 The Bill prescribes income-tax and withholding rates for 2018-2019, revises surcharge and cess structures by replacing earlier education cesses with a Health and Education Cess, introduces ten percent withholding on specified long-term capital gains, expands definitions to include fair market value and certain compensations within income, creates a significant economic presence nexus for non-residents in India for specified digital and transactional activities, mandates notified income-computation and disclosure standards for marked-to-market losses, foreign exchange fluctuations and contract accounting, and enacts comprehensive Customs reforms including automated clearance, an electronic cash ledger, a Customs Authority for Advance Rulings and new time bound adjudication and audit mechanisms. en-us Thu, 01 Feb 2018 18:16:50 +0530 Sat, 03 Feb 2018 11:12:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31897 The Bill prescribes income-tax and withholding rates for 2018-2019, revises surcharge and cess structures by replacing earlier education cesses with a Health and Education Cess, introduces ten percent withholding on specified long-term capital gains, expands definitions to include fair market value and certain compensations within income, creates a significant economic presence nexus for non-residents in India for specified digital and transactional activities, mandates notified income-computation and disclosure standards for marked-to-market losses, foreign exchange fluctuations and contract accounting, and enacts comprehensive Customs reforms including automated clearance, an electronic cash ledger, a Customs Authority for Advance Rulings and new time bound adjudication and audit mechanisms. Act-Rules Bills Thu, 01 Feb 2018 18:16:50 +0530 https://www.taxtmi.com/acts?id=31897