Equalisation Levy (EL)

It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June, 2016. The scope of EL has been enhanced by Finance Act, 2020. Section 163. [Extent, Commencement and Application] (1)          This Chapter extends to the whole of India except the State of Jammu and Kashmir. (2) […]

S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 179 of the Finance Act, 2016 (28 of 2016), the Central Government hereby makes the following rules for carrying out the provisions of Chapter VIII of the said Act relating to Equalisation levy, namely:- Rule 1.  Short title

S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016 (28 of 2016), the Central Board of Direct Taxes hereby makes the following scheme for processing of statement furnished under section 167 of the Act, namely:- 1. Short title and commencement.– (1)          This Scheme may be called

1. What is equalization levy (EL)? This is a tax leviable on consideration received or receivable by a non-resident for any specified service such as online advertising, any provision for digital advertising space or any other facility or service for online advertising @ 6% from: i) A person resident in India and carrying on business