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Budget 2017

India’s First Post-GST Union Budget Likely on 1 February

Taxscan Team

Finance Minister Arun Jaitley is likely to present India’s first post-GST and the current government’s last full Budget on February 1 next year. ...

Lok Sabha passes The Finance Bill, 2017

Kerala - Excise Duty - COVID-19 - Taxscan

Meghalaya Budget 2017 Proposes Fresh Tax on Liquor, Tobacco

Karnataka Budget 2017: No VAT on Alcohol, Hikes Motor Vehicle Tax

Amount Transferred from PF to NPS is not treated as income of the Current Year, not Taxable, says...

Purchase of Jewellery above Rs. 2 lakhs in Cash will attract 1% TCS from April 1st

According to recently introduced Finance Bill, 2017, Cash purchases of jewellery exceeds 2 lakhs will attract 1 per cent Tax Collection at Source (TCS) from April 1st. Currently the limit of cash...

First Part of Budget Session, 2017 Ends

The Budget Session, 2017 of Parliament commenced on Tuesday, 31st January, 2017 and subject to exigencies of government business, will be adjourned sine die on Wednesday, 12th April, 2017. Both the...

Income Tax Returns must be filed by End of March in AY

The Revenue Department with an aim to expedite tax compliance, proposes to make it mandatory for tax payers to file I-T returns as well as revised returns by March end of the assessment year (AY). ...

Budget Booster for Honest Start-Ups!

Creating a business friendly environment has always been the agenda of NDA Government. The new start ups also expect a level playing field, if they are tax compliant. No-one needs tax surprises in...

Budget 2017: Securities Transaction Tax (STT) and Employee Stock Option Plans (ESOPs) may hit by new provisions

Budget 2017 brought some significant changes in the long-term capital gains tax. Till the announcement of Budget, there were speculations that the Government may withdraw some exemptions given to the...

Budget 2017 withdraws Tax Benefits of Rajiv Gandhi Equity Savings Scheme (RGESS)

The Union Budget 2017 has proposed to withdraw the benefit given to Rajiv Gandhi Equity Savings Scheme (RGESS). The scheme was introduced in the 2012 Budget providing tax deductions under section...

Budget 2017: Tax Exemption to Partial Withdrawal from National Pension System (NPS)

In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament yesterday. The existing...