TABLE OF CONTENTS Contents Page No. DIRECT TAX LAWS 4 Tax Rates 4 Definition of Cha ita!

a!"e P# $ose %Se&tion '()*+, Exe.$tions #n/e se&tion )0 Weighte/ /e/#&tions #n/e se&tion 1* 2 De/#&tion #n/e se&tion1- fo E.$"o3e s &ont i!#tion to4a /s Pension s&he.e is a""o4e/ 5 De/#&tion #n/e Cha$te 6I7A 5 Rationa"isation of $ o8isions e"ating to T ansfe P i&ing )0 Taxation of &e tain fo eign /i8i/en/s at a e/#&e/ ate )) 9ini.#. A"te nate Tax )' A"te nate 9ini.#. Tax fo Li.ite/ Lia!i"it3 Pa tne shi$ (LLP+ )' Rationa"isation of Tax on In&o.e /ist i!#te/ to #nit ho"/e s )1 Co""e&tion of info .ation on e:#ests e&ei8e/ f o. tax a#tho ities o#tsi/e In/ia )1 Exe.$tion to a &"ass o &"asses of $e sons f o. f# nishing a et# n of in&o.e )4 Notifi&ation fo $ o&essing of et# ns in Cent a"ise/ P o&essing Cent es )4 Extension of ti.e "i.it fo assess.ents in &ase of ex&hange of info .ation )4 9o/ifi&ation in the &on/itions fo fi"ing an a$$"i&ation !efo e the Sett"e.ent Co..ission )* Po4e of the Sett"e.ent Co..ission to e&tif3 its o /e s )* O.ission of the e:#i e.ent of :#oting of Do&#.ent I/entifi&ation N#.!e ) Re$o ting of a&ti8ities of "iaison offi&es ) Re&ognition to P o8i/ent F#n/s ; Extension of ti.e "i.it fo o!taining exe.$tion f o. E.$"o3ees P o8i/ent F#n/ O ganisation (EPFO+ )INDIRECT TAX LAWS )5 A. SER6ICE TAX )5 Basis of Pa3.ent )5 Inte est an/ Late Fees '0 Pena"ties ') Re&o8e 3 of se 8i&e tax not "e8ie/ o $ai/ o sho t "e8ie/ o sho t $ai/ o e oneo#s"3 ef#n/e/ (Se&tion 21+ '' Inse tion of Ne4 Se&tions '1 9an/ato 3 E7fi"ing of ha"f 3ea "3 et# n '* B. CENTRAL EXCISE (CENTRAL EXCISE ACT< )=44+ 6a"#ation of Ex&ise goo/s 4ith es$e&t of Retai" Sa"e P i&e .etho/ (se&tion 4A+ '* S#!stit#tion of ne4 se&tion ))A fo se&tion ))A> Re&o8e 3 of /#ties not "e8ie/ o not $ai/ o sho t7 "e8ie/ o sho t7 $ai/ o e oneo#s"3 ef#n/e/

'* S#!stit#tion of ne4 se&tion ))AA fo se&tions ))AA an/ ))AB> Inte est on /e"a3e/ $a3.ent of /#t3 '2 Di e&t Taxes an/ In/i e&t T