#Budget 2018
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404 articlesIncome Tax

Income Tax
Section 271D & 271E- Penalty should be restricted to 30%
Income Tax

Income Tax
Section 271AAB – Relax restrictions to claim benefit of concessional rate of penalty @ 10%: ICAI
Income Tax

Income Tax
Section 271AAB Prosecution should not be initiated for Income disclosed during survey: ICAI
Income Tax

Income Tax
Section 271H- Penalty for failure to furnish TDS/TCS statements- Remove discretion
Income Tax

Income Tax
Issue guidelines penalty U/s. 271J for furnishing incorrect information in reports or certificates
Income Tax

Income Tax
Section 285BA(3) Widen scope of financial transaction to be reported
Income Tax

Income Tax
Ensure Non initiation of prosecution for delay in remittance of TDS against genuine tax deductors: ICAI Suggests
Income Tax

Income Tax
Make Reduction in Tax rate applicable to Firms/ LLP: ICAI
Income Tax

Income Tax
Computerized notice / document should provision for digital signature: ICAI
Income Tax

Income Tax
Section 281B Provisional attachment of property -Treatment of amount realized by invoking bank guarantee- Clarification required
Income Tax

Income Tax
Amend definition of accountant U/s. 288 of Income Tax Act 1961: ICAI
Income Tax

Income Tax
MAT Rate should be reduced to match with phasing out of tax exemptions: ICAI
Income Tax

Income Tax
ICAI cautions on Phasing of exemption/ incentives vis-à-vis industry needs
Income Tax

Income Tax
