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What's New Important Amendments effective from 01.06.2016      Sebi relaxes restrictions on more than 200 entities      Barring five all petroleum items under GST regime      RuPay debit cards to gain from small finance banks      Due Dates for the Month of March 2017      GST will unleash significant economic activity: Barack Obama      GST bill now a law, President Pranab Mukherjee gives assent to the constitutional amendment bill      Rules may be eased for banks and NBFCs under GST      Centre may have to re-notify GST Constitutional Amendment Act; here’s why      Recommended 7-year tax holiday for start-ups: Sitharaman      GST Council consensus emerging on April 1, 2017 rollout, Rs 25 lakh threshold      GST Council: Tax exemption threshold fixed at Rs 20 lakh      GST rate of 18% to have short-lived impact on inflation, says RBI      GST Network operating expenses to be funded by user fee      Adoption of GST poised to boost India's medium-term growth: IMF      Forex reserves touch record high of $372 bn      GST: The ride just got better for logistics      Submit monthly data of appeals disposed of: CBDT to officers      Centre moots 4 GST slabs      GST Council meet: 14% revenue growth assumed for states      IT Department changes PAN rules for automobile sales above Rs 2 lakh      I-T Dept to keep record of deposits over Rs 2 lakh      Rs 500, Rs 1,000 notes banned as PM Narendra Modi unleashes crackdown against black money      After liberal concessions by Centre, GST council inks breakthrough, new tax regime roll-out on July 1      After liberal concessions by Centre, GST council inks breakthrough, new tax regime roll-out on July 1      Budget 2017 - Highlights      Key Features of BUDGET 2017     

 Budget 2017 - Highlights


Budget 2017 is being presented by Hon'able Finance Minister Mr. Arun Jaitley today. Below are the major tax proposals in Finance Act 2017:

1.       Aadhar pay will be launched shortly.

2.       Long term capital asset in immovable property holding proposed to 2 years reduced from 3 years. Indexation to be considered for 01.04.2001.

3.       MAT credit carried forward for 15 years.

4.       Corporate Income tax rate reduced to 25% for companies having Annual turnover upto 50 crores.

5.       Basic custom duty to be reduced for certain goods.


6.       Presumptive taxation rate reduced to 6% for turnover via digital payments.

7.    No cash expense permitted over 3 lakh.

8.       Domestic Transfer pricing reduced

9.       Presumptive income audit limit increased to Rs. 2 crores.

10.     Income tax rate reduced to 5% from existing 10 % upto income between 2.5 lac to 5 lac.

11.       Rs. 12,500/- uniform benefit to all other tax tax payers.

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