Changes proposed in Finance Bill, 2017 Changes made in the Finance Bill, 2017 as passed by the Lok Sabha viz-a-viz the Finance Bill, 2017 presented originally in the Lok Sabha [ Read Finance Bill 2017 Amendment -Lok Sabha 20.03.2017-Download/Print ] 1) Threshold limit prohibiting cash payments reduced Finance Bill, 2017 had imposed a prohibition on receipt of… Read More »
Finance Bill 2017 Amendment Lok Sabha Notice of Amendment Dated 20.03.2017 Finance Bill 2017 Amendment -Lok Sabha 20.03.2017-Download/Print
In yet another move to curb black money in India, the government on Tuesday proposed a fresh ceiling of Rs 2 lakh on cash transactions, which is lower than the Rs 3 lakh proposed in Budget 2017-18. An amendment to this effect, was one among the 40 amendments proposed by Finance Minister Arun Jaitley to… Read More »
2 p.m.: Lok Sabha on 21.03.2017 House reconvenes. Deputy Speaker M. Thambidurai is in the Chair. Arun Jaitley rises to move that the Finance Bill, 2017 be taken into consideration. N.K. Premachandran says he is opposed to the Finance Bill under rule 219(1) and Article 110. He says the Finance Bill can only provide for… Read More »
Clause by Clause Discussion on Union Budget 2017 Published on Mar 14, 2017 on 11.2.2017
Clause by Clause Discussion on Union Budget-2017 – INDIRECT TAXES Published on Mar 14, 2017 on 11.2.2017 by CA. N Anand, CA. V Raghuraman, Adv. K. S Naveen Kumar
Bombay Chartered Accountants Society Date : 8th March 2017 Mr. Arun Jaitley Hon. Minister of Finance Government of India North Block New Delhi – 110 001. Respected Sir, THE FINANCE BILL – 2017 We compliment you for the focused and non populist Budget that was presented on 1st February. The idea of combining the Rail… Read More »
Holding period of new asset purchased Suggestion on Clause 3 of Finance Bill 2017 – Section 2(42A) – Reduction in holding period in case of immovable property, being land or building or both, to qualify as long term capital asset – Consequential amendments to be made in sections 54, 54B, 54D and 54F The Finance… Read More »
Relaxation from scrutiny provisions for assessees, having taxable income upto Rs.5 lakhs other than business income, filing return for the first time – Scope of relaxation to be extended In the Budget Speech, the Hon’ble Finance Minister mentioned that the assessees, having taxable income upto Rs.5 lakhs other than business income, will not be subjected… Read More »
Suggestions Clauses 39 and 40 of Finance Bill 2017– Sections 90 & 90A – Clarification with regard to interpretation of ‘terms’ used in tax treaties under Section 90/90A but not defined in such treaties – Concern to be addressed Under the existing provisions of Section 90 of the Act, power has been conferred upon the… Read More »