Under section 80-IBA, inserted by the Finance Act, 2016 from 1.4.2017, deduction of 100% of profits derived from development of affordable housing projects approved on or after 1st June 2016 is available, subject to fulfilment of specified conditions.
Every applicant, who intends to be appointed as director of an existing company shall make an application electronically in Form DIR-3, to the Central Government for allotment of a Director Identification Number (DIN) along with such fees as provided under the Companies (Registration Offices and Fees) Rules, 2014.
This clause (h) prescribes a condition towards utilisation of Floor Area Ratio (FAR) to be 90% in case of four metros and 80% in other places.
There is an urgent need to invest heavily in building up of a viable and efficient infrastructure in the agriculture sector in India. This would necessitate building up of proper computerized infrastructural facilities and electronic highways for procurement,
Empanelment of Insolvency Professionals registered with Insolvency and Bankruptcy Board of India established under Insolvency & Bankruptcy Code, 2016
Pro-rata deduction of single premium paid in year one should be allowed over the term of the policy. E.g. if the premium paid is Rs.42,000/- for a 3-year policy, Rs.14,000/- should be allowed each year starting from the year in which the payment has been made
Plain reading of section 80-IA gives the impression that deduction under section 80-IA is available ‘unit wise’. But, nowadays, losses of other units are clubbed to deny deduction under section 80-IA of the Income-tax Act, 1961
Sub-section (5D) was inserted in section 80G and sub-section (2A) was inserted in section 80GGA to provide that no deduction shall be allowed under these sections in respect of donation of any sum exceeding Rs.10,000 unless such sum is paid by any mode other than cash.
The Finance Act 2017 introduced a new section 71(3A) to provide that with effect from financial year 2017-18, set-off of loss under the head Income from house property against any other head of income should be restricted upto Rs 2 lakh per year.
The Finance Act, 2017 amended section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act
