The Institute of Chartered Accountants of India (ICAI) has released E-Flash on amendment proposed by Finance Bill, 2017 i.e. Union Budget 2017-18. It Contains 5 Sections below-
1. ICAI Press Release—Union Budget 2017
2. Direct Tax Proposals—Highlights
3. International Tax Proposals—Highlights
4. Indirect Tax Proposals—Highlights
5. State Of The Economy—Major Highlights
ICAI Press Release— Union Budget 2017
Elimination of Black Money
The Finance Minister Mr. Arun Jaitley in his Budget Speech underlined that one of the main priorities of the Government is to eliminate black money component from the economy. He highlighted the positive role of demonetisation in reducing corruption, increasing digitisation of the economy and transferring the resources from the tax evaders to the Government for deployment in the welfare schemes for the poor. In this direction, the main objective of the tax proposals include, inter alia, promoting digital economy and ensuring transparency in political funding.
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