Highlights of Union Budget2017

highlights-of-union-budget2017
Feb 03, 2017 Share
  • There will be an inflation of 34% in Direct Tax collection post-demonetization.
  • The holding period for the yet-to-be-launched properties will be reducedto two years.
  • The MAT credit can be carried forward for 15 years instead of 10 years.
  • The companies having a turnover below 50 Crores will be liable for 5 % tax exemption.
  • Cash transactions above 3 Lakh will not be accepted from the buyers’ end.
  • The buyers having an income of less than 5 Lakh will have to pay 5% income tax instead of 10%.
  • Also, there will be no income tax burden for the people earning less than 3 Lakh a year.
  • An additional charge of 10% will be implemented on the assesses having an income between 50Lakh and 1 Crore.

 

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