A political change, a global change or even a climate change, everything impacts the stock market. Stock markets are also seen sensitive to the annual budget changes. In fact, the response of the stock market is viewed as an important factor in deciding the quality of the budget. The budget paves way for the economic development of the country for the year and the effect of the pre-budget expectations and the budget proposals gets reflected in the stock prices of the impacted companies.

“#StartUpIndia”, the mantra trending across the nation is one of the ambitious programs that would go into shaping the future of the Country. Early this year, the Indian Government unveiled the action plan for encouraging start-ups. Various ministries of the Government have initiated a number of activities for this purpose. The Budget 2016 is keenly watched for startup related incentives to make the Government’s vision, a reality.

Click here to read incisive post-budget reactions from 20+ tax professionals, including the who's who of the Tax World.

Click here to read Key Direct tax proposals of Finance Bill 2016.

Click here to read the insight titled "Direct tax rulings impacted / overuled by Finance Bill 2016".

Click here  to read the key transfer pricing proposals of Finance Bill 2016.

Click here to read the key takeaways from Finance Bill 2016, and to download copies of Notifications. 

Click here to read the Insight titled “Indirect Tax Rulings Impacted by Finance Bill, 2016”.

The month of February is the time for Budget – typically presented at the end of the month barring exception of Leap Years when it may be presented on February 29. 2016 is one such leap year when professionals in the tax world are all set for the Union Budget to be presented by the Finance Minister (‘FM’) Shri Arun Jaitley. This will the 10th year in India's history post independence that the Union Budget would be tabled on the last day of the month of February in a leap year. Taxsutra in this special feature takes you through the Union Budgets presented on February 29th post independence highlighting certain key amendments and memorable quotes from the Budget Speech.

National tax policies have always impacted the competitiveness and operations of global businesses. To take advantage of the tax arbitrage, global entities structure themselves through beneficial jurisdictions. Such structures have always remained under the watchful eyes of the tax officers, the nations, the media and the general public. The OECD BEPS project was a result of this heightened evaluation of global structures. The Final Reports on the 15 identified action plans were released in Oct 2015. Several countries had also simultaneously updated their tax laws to incorporate the BEPS proposals.

It is not always the Finance Minister or the Parliament that has the last word on the Finance Bill. Quite a few of the tax amendments introduced in the Budget are challenged before the courts for their Constitutional validity. In the recent past, the retrospective amendment to Sec 9 nullifying SC’s Vodafone judgment has been challenged before several High Courts.

In this section, we shall take a look at landmark Court rulings delivered in last 12 months wherein a Budget amendment has been challenged and key observations from the Court therein. Wherever possible, the intent of introducing the amendment has also been provided. 

As the Union Budget draws near, all eyes turn on the Finance Minister to see what he has in store for the tax professionals this year. While 72 hours remain before Shri. Arun Jaitley takes stage to deliver his eagerly awaited speech, Taxsutra dives back into time to bring to you speeches delivered by Finance Ministers while introducing some bold and hence, memorable amendments in the Income Tax Act.