EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2018

IN CO ME-TAX ACT Finance Act, 2018 – Explanatory Notes to the Provisions of the Finance Act, 2018 CIRCULAR NO. /2018, DATED THE 26th OF DECEMBER, 2018 AMENDMENTS AT A GLANCE

Widening of scope of Accumulated profits for the purposes of Dividend, 4.1-4.5; Rationalisation of provision relating to conversion of stock-in-trade into Capital Asset, 14.1-14.4; Taxability of compensation in connection to business or employment, 13.1-13.3; New regime for taxation of long-term capital gains on sale of equity shares etc., 29.1-29.13

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