Key amendment in Income Tax Act applicable from from 01.04.2017 (1) Limit for Cash Expenditure (both, capital and revenue expenditure) reduced to Rs 10k per day in aggregate per person, earlier same was Rs 20k . Capital expenses paid in cash
Release of Electronic Verification Code for Income Tax Return Verification
Notification No. 2/2015 regarding Electronic Verification Code (EVC) for electronically filed Income Tax Return as an alternative mode of verification released. [Refer Notification No. 2/2015 dated 13/07/2015] EVC would verify the identity of the person furnishing the return of income