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Forbid Cash Transaction and related Income Tax Provisions

What Income Tax Act Says about Cash Transactions and Consequences of Non-Compliance of related provisions in the act & rules. After the demonetization Indian economy gradually moving towards the Cashless economy and increase the use of digital money. An increase of electronic transactions creating problems...

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Declare Cash deposited during Demonetization in ITR


Income Tax return filing season is started, Government has started campaigning for ITR filing through digital and social media, internet , TV Ads etc. Although the last date to file for individuals is July 31, you must start work on your income tax return now...

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Clarifications in respect of section 269ST

In a bid to promote Mr. PM Modi’s dreams ‘ Digital India ‘, & ‘ Cash-Less Economy’, Tax Policy and Legislation division of Central Board of Direct Taxes issues Circular No. 22/2017 regarding clarifications in respect of section 269ST of the Income Tax Act, 1961...

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Section 269ST – Cash Transactions with Examples

In this article we elaborate section 269ST of IT Act, in respect of Cash Transaction provisions applicable from 01-Apr-2017 on wards with examples. Point No. 1. From which date this section is applicable? This section applies from 01/04/2017 (F.Y.2017-18 onwards) Point No. 2. What are...

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The Finance Bill 2017 Cleared in LS

The Finance Bill 2017 with 40 amendments passed in Lok Sabha The Finance Bill 2017 passed in Lok Sabha. Various amendments have been made in the Bill, One of the important amendments was making Aadhaar number mandatory for filing of Income Tax returns. Glimpse of...

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Cash transaction related proposals in Budget 2017

In a bid to Cashless Economy Mission, the Government has proposed many provision to curb cash transactions in Budget 2017   After a few days, the new financial year 2017-18 is being commenced, Government has tightened screw on cash transactions in Budget 2017. Business entity...

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