SN
Description
Impact
Author remarks
1
For Income more than one crore surcharge increased to 15% from 12%
Negative
More tax from super rich
2
10% tax on dividend income for more than 10 Lakhs other than companies
Negative
Taxpayer now can escape section 14A disallowance.
3
Tax on 60% withdrawal portion of EPF & NPS
Negative
Expecting more clarification in future
4
Additional Rs. 50,000 deduction on interest for purchase of first home of value less than 50 Lakh and loan of Rs. 35 Lakh
Positive
Only for one year
5
Advance tax rationalize for all taxpayer in four installments
Negative
Now everybody have same advance tax calendar
6
Filing of return of income mandatory for taxpayer having only exempted income
Negative
More compliances
7
As per section 50C, value of property required to be determined at the time of entering of sale agreement and not at the time of registration of property
Positive
Reasonable for all property buyers.
8
Under section 87A rebate increased to Rs. 5000
Positive
More tax benefit for small taxpayer
9
Now pay 10% LTCG on sale of unlisted shares
Positive
Good tax planning route
10
Period of holding reduced to LTCG to 2 Years
Positive
pay less tax on capital gain profit
11
Rent paid deduction u/s 80GG increased to Rs. 60,000
Positive
For people who don’t claim HRA
12
TCS on purchase of motor car exceed value Rs. 10 Lakh
Negative
Chances of scrutiny.
13
One time exemption for transfer of cumulated PF and superannuation amount to NPS
Positive
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