Income Tax Amendments Applicable from 01.04.2017

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

CBDT Extends Due Date of Filing Return of Income to 17 October

The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September of the following year. The tax payers whose business receipts exceed Rupees