Day: February 1, 2017
Presumptive tax six percent us 44AD for non cash sales. 8% rate to continue for turnover or gross receipts received in any other mode. Measures for promoting digital payments in case of small unorganized businesses The existing provisions of section 44AD of the Act, inter-alia, provides for a …
Cash payment disallowance us 40A3 reduced to Rs 10000 in place of existing limit of Rs. 20000/- to a person in a day Budget 2017-18 : Measures to discourage cash transactions The existing provision of sub-section (3) of Section 40A of the Act, provides that any expenditure in …
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 Section 23 of the Act provides for the manner of determination of annual value of house …
Cost Inflation Index base shifted from 1981 to 2001 for computation of capital gains. Amendment to section 55 from AY 2018-19 by Budget 2017-18 Shifting base year from 1981 to 2001 for computation of capital gains. The existing provisions of section 55 provide that for computation of capital …
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 …
TDS on Rent liability for assessee not covered under tax audit. New section 194IB for monthly rent exceeding Rs. 50000/-. TAN not required Budget 2017-18 : Deduction of tax at source in the case of certain Individuals and Hindu undivided family. The existing provisions of section 194-I of …
Budget 2017-18-Rationalization of taxation of dividend income. Provisions of section 115BBDA not to apply to domestic company and certain funds, trusts etc Budget 2017-18-Rationalization of taxation of dividend income Under the existing provisions of section 115BBDA, income by way of dividend in excess of Rs. 10 lakh is …
Budget 2017-18 Finance Minister Speech download -Tax Reforms. Relief to small tax payers and other measures announced in the Budget Budget 2017-18 Finance Minister Speech-Tax Reforms TAX REFORMS Relief to small tax payers Measures to boost growth and employment generation Incentivising domestic value addition to help Make in …
Order us 263 not nullity if notice not signed by CIT, when opportunity of hearing was otherwise given by the Commissioner-ITAT ABCAUS Case Law Citation: ABCAUS 1114 (2017) (02) ITAT Assessment Year : 2010-11 Brief Facts of the Case: In a recent judgment, ITAT, Kolkata dismissed a bunch …
