Interest on refund due to deductor at the rate of one-half per cent for every month or part of a month. Sub-section (1B) inserted in Section 244A Budget 2017-18 Interest on refund due to deductor The existing section 244A of the Act provides that an assessee is entitled …
ITR Processing within prescribed time and withholding refund. Section 143(1D)not to apply to return filed for AY 2017-18 onwards Budget 2017-18 : Processing of return within the prescribed time and enable withholding of refund in certain cases The provisions of sub-section (1D) of section 143 provide that the …
TDS Rate us 194J reduced to 2 percent for call centre. Being payment to a person engaged only in the business of operation of call center Budget 2017-18 : Simplification of tax deduction at source in case Fees for professional or technical services under section 194J The existing provisions of …
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 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 …
Restriction on Cash Transaction of Rs 3 Lakhs or more in aggregate from a person in a day, in single transaction or one event or occasion from a person Budget 2017-18 Provisions : Restriction on cash transactions In India, the quantum of domestic black money is huge which …