New Benefits announced for NPS Subscribers in Union Budget 2017-18 In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today. Tax-exemption to partial withdrawal from National Pension System (NPS) The existing provision of section 10(12A)of… Read More »
Highlights of Indirect Tax Proposals Union Budget 2017-18 SERVICE TAX Amendments effective from 02.02.2017 Amendment in Mega Exemption Notification No. 25/2012 ST dated 20.06.2012 Services provided or agreed to be provided by the Army, Naval and Air Force Group Insurance Funds by way of life insurance to members of the Army, Navy and Air Force… Read More »
Highlights of Tax Proposals Union Budget 2017-18 DIRECT TAX PROPOSALS BUSINESS TAXATION The threshold limit for audit of business entities who opt for presumptive income scheme proposed to be increased from Rs. 1 crore to Rs. 2 crore. This is a clarificatory amendment. [ Read Tax Audit Limit for Presumptive Taxation w.e.f AY 2017-18 ] The threshold… Read More »
Talkathon on Budget 2017-18 Published on Feb 1, 2017 Talkathon with Union Finance Minister Shri Arun Jaitley held on February 1,2017. The show was hosted by eminent author Shri Chetan Bhagat. Questions were invited on Twitter which were answered by the Finance Minister.
Budget 2017-18: What’s in it for women Budget2017–18: What’s in it for students Budget2017-18: What’s in it for Rural Population Budget2017-18: What’s in it for farmers
Taxmann’s Budget 2017-18 (Presented on February 1, 2017) – 2017 No of Pages 192. you can Buy Book for Rs 271 .Click on Link to Buy online
Penalty on professionals for furnishing incorrect information in statutory report or certificate -section 271J of Income tax Act Summary: Section 271J Income Tax As per Finance Bill 2017 w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) , if an accountant or a merchant banker or a registered valuer, furnishes incorrect information in a report or certificate… Read More »
Tax on Transfer of Property without/Inadequate consideration w.e.f 01.04.2017 by any person Exceeding Rs 50000 Summary w.e.f 01.04.2017, Finance Bill 2017 proposed to insert a new clause (x) in sub-section (2) of section 56 so as to provide that receipt of the sum of money or the property by any person without consideration or for… Read More »
TDS u/s 194J @ 2% if Payee is Call Center w.e.f 01.06.2017 Summary :- section 194J Amendment – Finance Bill 2017 w.e.f 01.06.2017 reduced the rate of deduction of tax at source to two per cent. from ten per cent. in case of payments received or credited to a payee, being a person engaged only in… Read More »
Restriction on cash transactions in India -Section 269ST of Income Tax Act [ Section 269ST of Income Tax Act proposed by Finance Bill 2017 w.e.f 01.04.2017] Commentary on Section 269ST – Cash Receipt of Rs 3 Lakh or More w.e.f 01.04.2017 Read Analysis of Section 269ST – Cash Receipt Rs 2 Lakh or more Banned w.e.f… Read More »