Tax Audit Limit for Presumptive Taxation w.e.f AY 2017-18 Summary – Tax Audit Limit AY 2017-18 :As per Finance Bill 2017 , w.e.f 01.04.2016 FY 2016-17 (AY 2017-18) Section 44AB an eligible person opting for presumptive taxation scheme as per section 44AD(1) shall not be required to get his accounts audited if the total turnover or gross receipts… Read More »
Limit for maintenance of books of accounts for Businessmen /Professional w.e.f 01.04.2017 Summary :As per Finance Bill 2017 , w.e.f 01.04.2017 FY 2016-17 (AY 2018-19) under Section 44AA of Income Tax Act , every person carrying on any business or profession (other than specified profession of medical, legal, etc.) is required to maintain books of account… Read More »
E-Flash-Union Budget 2017-18 – (02-02-2017)
Cenvat Law & Practice – Finance Bill 2017 Edition (31st Edition, 2017) by V.S. Datey Cenvat Law & Practice – Finance Bill 2017 Edition Book contains Comprehensive Commentary on Law relating to Cenvat Also Incorporating: Comprehensive Case Laws Coverage Department Instructions Guide to Procedures Documentation You can buy this Book for Rs 1076. Click to buy this… Read More »
Service Tax Ready Reckoner- Finance Bill 2017 Edition by V.S. Datey Service Tax Ready Reckoner – Finance Bill 2017 Edition :- Author : V.S. Datey Edition : 28th Edition 2017 Date of Publication : February 2017 No. Of Pages : 1040 You can buy this Book for Rs 1256.Click to Buy this Book Online . It has 1040… Read More »
Tax-exemption to partial withdrawal from National Pension System (NPS) The existing provision of section 10(12A) provides that payment from National Pension System (NPS) trust to an employee on closer of his account or opting out shall be exempt up to 40% of total amount payable to him. In order to provide further relief to an… Read More »
Restriction on set-off of loss from House property Summary : As per Finance Bill 2017 w.e.f FY 2017-18 (AY 2018-19) Section 71 of Income tax Act is proposed to be amended to restrict the set-off of loss under the head ‘Income from house property’, in any assessment year against any other income, up to Rs 2,00,000. The… Read More »
Rebate allowable under Section 87A of Income tax Act Summary :– The rebate of Rs. 5,000 currently available under section 87A in case of an individual resident in India whose total income does not exceed Rs. 5,00,000,Finance Bill 2017 proposed to be reduced to Rs. 2,500, where the total income does not exceed Rs. 3,50,000… Read More »
Section 234F -Fee for delayed filing of Income tax return Summary : As per Finance Bill 2017 w.e.f FY 2017-18 (AY 2018-19) new section 234F is proposed to be inserted to provide for levy of fees for late filing of return after the due date. Rs. 5,000 would be levied for return filed after the due… Read More »
Taxmann Budget Talk | S.S Gupta | Budget 2017-18 | Union Budget Published on Feb 2, 2017 Watch expert Mr. S.S Gupta talk about the recent Union Budget announcement. He will discuss what was delivered to the people and what was actually expected. He is sharing budget highlights, key takeaways and how this budget will… Read More »