No exemption for corpus donation by exempt entities to other exempt entities [ Amendment in Section 11 of Income Tax Act – Applicable from Assessment Year 2018-19] Relevant extracts from Explanatory memorandum to the provisions of Finance Bill 2017 Restriction on exemption in case of corpus donation by exempt entities to other exempt entities As… Read More »
Clause by Clause Discussion on Union Budget-2017 – DIRECT TAXES Published on Feb 18, 2017 on 10.2.2017 by speakers: CA. H. Padamchand Khincha, CA. K K Chythanya, CA. S Ramasubramanian
Impact of Direct Tax proposals in Budget 2017 Published on Feb 18, 2017 on 15.2.2017 by CA Gururaj Acharya K
Girish Ahuja on Expert Analysis of Finance Bill (Budget) 2017 Ahmedabad Branch of WIRC of ICAI with Dr. CA. Girish Ahuja on Expert Analysis of Finance Bill (Budget) 2017 on 3rd February 2017 Books on Budget 2017-18 Taxmann’s Budget 2017-18 -Book Budget 2017-18- Notifications on Central Excise , Customs and Service tax – New Book… Read More »
An Awareness Programme , Analysis of Union Budget 2017 Published on Feb 12, 2017 on 2.2.2017 by Moderators: CA. T V Mohandas Pai & CA. H. Padamchand Khincha Books on Budget 2017-18 Taxmann’s Budget 2017-18 -Book Budget 2017-18- Notifications on Central Excise , Customs and Service tax – New Book Ajit Prakashan’s Union Budget 2017-18… Read More »
Initiation of assessment in case of search and seizure beyond 6 year ( Amendment as per Finance Bill 2017 in Sections 153A and 153C – Applicable from Assessment Year 2017-18 ] Memorandum Explaining Provisions of Finance Bill 2017 Rationalisation of provisions of the Income Declaration Scheme, 2016 and consequential amendment to section 153A and 153C… Read More »
Time limits for completion of Income Tax Assessment As per Finance Bill 2017 Table of Time limits for completion of Income Tax Assessment Section Particulars Applicable from Time limit 139(5) Time limit for furnishing revised return Assessment year 2018- 19 and onwards Up to the end of the relevant assessment year or before the completion of… Read More »
Professionals allowed to pay advance tax in single installment [Section 211 and 234 of Income tax Act – Applicable from Assessment Year 2017-18 ] Relevant extract from Budget Speech on Union Budget 2017-18 on 01.02.2017 171. Last year, I had announced a new scheme for presumptive taxation for professionals with receipt upto Rs. 50 lakhs… Read More »
Exemption from TDS on insurance commission [Section 194D of Income Tax Act – Applicable from 01-06-2017] Enabling of Filing of Form 15G/15H for commission payments specified under section 194D The existing provision of sub-section 194D of the Act, inter-alia, provides for tax deduction at source (TDS) at the rate of 5% for payments in the… Read More »
Period for claiming deduction by start-ups [ Section 80-IAC – Applicable from Financial Year 2017-18 ( Assessment Year 2018-19) ] Extending the period for claiming deduction by start-ups The existing provisions of section 80-IAC, inter alia, provide that an eligible start-up shall be allowed a deduction of an amount equal to one hundred per cent… Read More »