Category: Budget 2017-18

Increase in threshold limit-books of accounts maintenance us 44AA for Individuals and HUF. New threshold for income 2.5 lakhs and for turnover Rs. 25 lakhs

Increase in threshold limit-books of accounts maintenance us 44AA for Individuals and HUF. New threshold for income 2.5 lakhs and for turnover Rs. 25 lakhs Budget 2017-18 : Increase in threshold limit for maintenance of books of accounts for Individuals and HUF The existing provisions of clause (i) and …

Political Parties not to accept cash donations of Rs 2000 or more. Amendment to section 13A by Budget 2017-18 Provisions

Political Parties not to accept cash donations of Rs 2000 or more. Amendment to section 13A made by Budget 2017-18 Provisions TRANSPARENCY IN ELECTORAL FUNDING The existing provisions of section 13A of the Act, inter-alia provides that political parties that are registered with the Election Commission of India, are …

No 80G Deduction for cash donation exceeding Rs 2000 to provide cash less economy and transparency. Budget 2017-18 provisions from AY 2018-19

No 80G Deduction for cash donation exceeding Rs 2000 to provide cash less economy and transparency. Budget 2017-18 provisions from AY 2018-19 Restricting cash donations Under the existing provisions of section 80G, deduction is not allowed in respect of donation made of any sum exceeding Rs.10,000, if the same …

No notional income for house property held as stock-in-trade u/s 23 till the certificate of completion of construction of the property is obtained

No notional income for house property held as stock-in-trade u/s 23 till the certificate of completion of construction of the property is obtained No notional income for house property held as stock-in-trade Section 23 of the Act provides for the manner of determination of annual value of house …

LTCG holding period immovable property reduced to 24 months from 36 months . Section 2(42A) Amendment in Budget 2017-18

LTCG holding period immovable property reduced to 24 months from 36 months . Section 2(42A) Amendment in Budget 2017-18  MEASURES FOR PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR Incentives for Promoting Investment in immovable property The existing provision of the Act provide for concessional rate of tax and …