Restrictions on cash Payments w.e.f 01.04.2017 Summary –Amendment in Section 40A(3): As per Finance Act 2017 w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) reduced threshold of cash payment to a person from twenty thousand rupees to ten thousand rupees in a single day; i.e any payment in cash above ten thousand rupees to a person in… Read More »
Restriction on cash donations Summary : As per Finance Bill 2017 w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) no deduction shall be allowed under the section 80G in respect of donation of any sum exceeding two thousand rupees unless such sum is paid by any mode other than cash. Under the existing provisions of section 80G of… Read More »
Income for house property held as stock-in-trade Summary : As per Finance Bill 2017 w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) where the house property consisting of any building and land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part… Read More »
In-Depth Analysis of Changes in Service tax by Budget 2017 (Finance Bill 2017) – By CA Atul Kumar Gupta Published on Feb 1, 2017 Hon’ble Finance Minister Shri Arun Jaitley presented Union Budget for Financial Year 2017-18 on 1st February 2017. In the Budget speech, Hon’ble Finance Minister proposed a number of changes under Direct… Read More »
Capital Gains Related Amendment in Finance Bill 2017 Shifting base year from 1981 to 2001 for computation of capital gains The existing provisions of section 55 provide that for computation of capital gains, an assessee shall be allowed deduction for cost of acquisition of the asset and also cost of improvement, if any. However, for… Read More »
Memorandum Explaining Provisions in Finance Bill 2017 Related Post on Budget 2017-18 Budget Speech 2017-18 -Download /Print Finance Bill 2017 -Download /Print -Budget 2017-18 Updates on Union Budget 2017-18
Finance Bill 2017 (Budget 2017-18) India Finance Bill 2017 presented on 01.02.2017 by Sh Arun Jaitley Related Book on Finance Bill 2017 (Budget 2017-18) India The Central Budget 2017 ( with Budget Highlights , tax tables ,speech , finance bill 2017 , notes on clauses and memorandum 2017 – 2018 ) by Arun Jaitley – ENGLISH… Read More »
First Exclusive Interview of FM, after presenting Budget, 2017
Union Budget 2017-18 | Tax Proposals
Income Tax Slab Rates AY 2018-19 Income Tax Slab Rates AY 2018-19 (Financial Year 2017-18) for different category of Persons as per Finance Bill 2017 (Budget 2017-18) are as follow:- Income Tax Slab Rates AY 2018-19 in case of Individual(resident or non-resident) or HUF /AOP/BOI/AJP In case of an Individual(resident or non-resident) or HUF or Association of Person… Read More »