Major Highlights of Union Budget 2017
1. Total Budget of 21.47 Lakhs crores for 2017-2018. 2. Increase in Direct Tax collection by 34% after demonetisation. 3. Holding period for LTCG for Land & Building reduced to 2 years. 4. Carried forward of MAT Credit for 15 years instead of 10 years. 5. 5% tax exemption for companies having turnover below 50 crores. 6. 6% presumptive tax for turnover upto 2 crores. 7. No cash transaction above ₹ 3 Lakhs will be permitted. 8. Maximum Donation receivable from unknown source by pol party will be 2k. 9. Change in period of limitation for scrutiny assessment. 10. 5 % tax for income below 5 Lakhs. 11. No tax for income upto 3 Lakhs. 12. 10% surcharge for assesse income between 50 Lakhs to 1 crores. 13. One page Income Tax return proposed. 14. No major changes for Indirect taxes due to GST implementation.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway
1. Total Budget of 21.47 Lakhs crores for 2017-2018. 2. Increase in Direct Tax collection by 34% after demonetisation. 3. Holding period for LTCG for Land & Building reduced to 2 years. 4. Carried forward of MAT Credit for 15 years instead of 10 years. 5. 5% tax exemption for companies having turnover below 50 crores. 6. 6% presumptive tax for turnover upto 2 crores. 7. No cash transaction above ₹ 3 Lakhs will be permitted. 8. Maximum Donation receivable from unknown source by pol party will be 2k. 9. Change in period of limitation for scrutiny assessment. 10. 5 % tax for income below 5 Lakhs. 11. No tax for income upto 3 Lakhs. 12. 10% surcharge for assesse income between 50 Lakhs to 1 crores. 13. One page Income Tax return proposed. 14. No major changes for Indirect taxes due to GST implementation.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway
