Ease of doing Business & Dispute Resolution effective from 1st April, 2017

  1. Exemption from Dividend Distribution Tax (DDT) on distribution made by an SPV to Business Trust effective from the 1st day of April, 2016
  2. Modification in conditions of special taxation regime for off shore funds Section 9A
  3. Enabling provision for implementation of various provisions of the Act in case of a foreign company held to be resident in India.
  4. Introduction of Presumptive taxation scheme for persons having income from profession
  5. Increase in threshold limit for audit for persons having income from profession
  6. Increase in threshold limit for presumptive taxation scheme for persons having income from business.
  7. Deduction in respect of provision for bad and doubtful debt in the case of Non-Banking Financial companies.
  8. Rationalisation of scope of tax incentive under section 32AC effective from the 1st day of April, 2016
  9. Exemption from requirement of furnishing PAN under section 206AA to certain non-resident effective from the 1st day of April, 2016
  10. Applicability of Minimum Alternate Tax (MAT) on foreign companies for the period prior to 01.04.2015.
  11. Tax Incentives to International Financial Services Centre
  12. The Income Declaration Scheme, 2016 effective from the 1st day of April, 2016
  13. Providing Time limit for disposing applications made by assessee under section 273A, 273AA or 220(2A) effective from the 1st day of April, 2016.
  14. Providing legal framework for automation of various processes and paperless assessment effective from the 1st day of April, 2016

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