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 …
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 …
