Union Budget -2017-18 - Part 4
01 February 2017   

Taxability of Gifts | Educational | The Learning Curve

Budget Reactions

BUDGET ANALYSIS

Customs refunds - More categories excluded from scope of unjust enrichment

EOUs can procure inputs/raw materials at concessional duty - bar under Sec 5A is only for goods manufactured by EOUs - Important clarification by Board

Budget 2017 - What it has for Corporate India

Rule 6 of CCR, 2004 rationalised for Banks and Financial institutions including NBFCs

Banking Companies and FIs, NBFCs impacted due to amendment in CCR, 2004

Jaitley recasts entire matrix of capital gains; Base year changed to mitigate hardships

Time limits set for grant of remission of duty & transfer of CENVAT credit

Construction Service - Anomaly removed - Service Tax (Determination of Value) Rules, 2006 proposed to be amended retrospectively

Settlement Commission is now empowered to amend its order to rectify any error apparent on the face of record

For Swachh politics FM caps cash donation to Rs 2K & introduces Electoral Bonds

Any person, other than an assessee can file application for Settlement - long awaited amendment becomes reality this Budget

Budget proposes to levy penalty on CA, Merchant Banker, Registered Valuer for furnishing incorrect information; Fee proposed for filing delayed return

Real estate - JDA - Liability to pay capital gains tax only in year project is completed

 

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