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1. 100% penalty on cash transaction over ₹ 2 lakh (originally it was proposed as 3 lakh) from April 1, 2017 - Loksabha Passed the Finance Bill, 2017 today i.e. 22-3-2017

2. Unexplained investment u/s 69 - cash deposit - the alleged transactions of cash deposits and corresponding entries of cheque issued were not in the nature of any...

3. Cash sale of the agricultural produce by its cultivator to the trader for an amount less than ₹ 2 Lakh will not attract disallowance, any penalty or PAN

4. Applicability of TCS where the bill amount is exceeding ₹ 2 lakhs and when part of the bill is paid in cash and part through cheque - CBDT clarifies

5. Penalty for cash loan/ transactions against primary co-operatives - Section 269SS / 269T - Relief given to Primary Agricultural Credit Societies (“PACS”) and Primary...

6. Refund of amount deposited as pre-deposit - It stands clear that appellant is entitled for refund of ₹ 15 Lakhs as were paid in cash by him at the time of the...

7. Interpretation of the term “a contract” - TDS applicability under section 51 of the GST Act - no contract or contract of continuous supply - In the first scenario, since...

8. Valuation - related party transaction - The transaction of ₹ 5 lakhs as loan on payment of interest cannot be the reason for holding partnership and private...

9. Tax collections increased from ₹ 6.38 Lakh Crore in year 2013-14 to almost ₹ 12 Lakh Crore this year 80% growth in tax base; number of returns filed...

10. Disallowance u/s 14A - disallowance u/r 8D was made of ₹ 2.19 Crores against total expenditure of ₹ 24.19 Lakhs - voluntarily disallowance by assessee of...

11. Presumptive income - enhancement of threshold limits - U/s 44AD if 95% of gross receipts and payments through no-cash mode than limit of presumptive taxation increased...

12. Penalty u/s 271D - accepting cash loan of Rs. 2 lakh in aggregate without any reasonable cause in contravention to section 269SS - transactions between father and son,...

13. Exemption u/s 54EC - Since assessee had invested ₹ 71 lakhs in two different financial years and within six months from the date of transfer of the capital assets,...

14. Gratuity exemption u/s Section 10(10)(iii) - exemption limit raised to ₹ 25 lakhs

15. GST Revenue collection in the month of April 2018 exceeds ₹ 1 Lakh Crore