UNION BUDGET 2017 Click Here

Analysis of Union Budget 2017 provisions of Income Tax Service Tax Excise Duty Custom Duty with Budget Highlights Commentary Speech, Notification, News & Articles.

Budget 2017 featured

Cash Receipt!! Is it really a Receipt??

Central Government is putting all efforts to curb use of cash which is focused on un-accounted transactions. As we all know, not all transactions that are transacted in cash hold the colour of un-accounted money, the contrary is that all the un-accounted transactions takes place in cash....

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LLP v/s Private Limited Company – Taxation Comparison

After the announcements made in the Finance bill 2017 it is important to discuss the comparison between an LLP and Private limited company from a taxation point of view. ...

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Union Budget 2017-18: Is TCS On Jewellery Withdrawn or its scope is Enhanced-Controversy Created due to proposed amendment in Section 206C

Finance Bill, 2017 has proposed the following amendments in section 206C regarding TCS on Jewellery: 1. Clause (ii) of sub section (1D) shall be omitted (this clause prescribes threshold limit for TCS on Jewellery); and 2. Clause (ab) of Explanation to Sec 206c shall be omitted (this clause defines meaning of the word jewellery); and...

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Section 269ST- How to Compute Limit in different circumstances

Union Budget 2017-18: Restrictions Levied On Cash Receipts U/S. 269ST– How to Compute Limit of Less Than Rs. 3 Lakhs in Different Circumstances ...

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Comprehensive Analysis of Direct Tax Proposals in Budget 2017

In this article an attempt has been made to peep into scope of some important direct tax proposals contained in Budget 2017 as under...

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Union Budget 2017-18: Restrictions levied on Cash Receipts- An Analysis of Few Aspects of Section 269ST

The Finance Bill, 2017 has proposed to introduce a new section 269ST in the Income Tax Act with effect from 01st April, 2017. This section aims for restricting the cash transaction for achieving the mission of the Government to move towards less cash economy to reduce generation and circulation of black money in the economy....

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Indian Union Budget – 2017 An Analysis of Income Tax Proposals

Income Tax slabs are not changed, but the tax rate for first taxable slab of income from Rs. 2,50,001/Rs. 3,00,001 to Rs. 5,00,000 is decreased from 10% to 5%. So, now there will be directly a slab of 20% after the slab of 5% tax. As in the case of very senior citizens...

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TCS relaxation on jewellery: Proposed amendment to Section 206C

Prior to the amendment proposed by Finance Act 2017, the section provided for collection of tax at source at the rate of one per cent on sale in cash of bullion exceeding 2 1akh rupees and jewellery exceeding 5 lakh rupees....

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Salaried Class – The Soft target for Income Tax Collections

As earlier years, this year too salaried class had so much expectation from budget and as earlier years this year too they are disappointed after budget. No new deductions or no enhanced deductions, no rebate, no parity with self-employed/professionals (who are taxed on net income basis)....

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Budget 2017: Filing of return for AY 2018-19 and consequences of late filing u/s 234F

Vide Budget 2017consequences of late filing of return has been changed drastically. It basically forces the assessee to file the return of income in time. It allows late filing of return albiet with a fees. Even the time of filing of revised return has been reduced by 1 year....

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