Vishal Vijay Gupta

From A.Y 2019-20 no income tax refunds without bank pan validation...

B. Reduction in relief under section 87A
[Section 87A - Applicable from Assessment Year 2018-19]
Section 87A provides a relief up to ` 5,000 to a resident individual if his
total income does not exceed ` 5,00,000. The relief is proposed to be reduced
to ` 2,500 and it is proposed to be made available to only those resident
individuals whose total income does not exceed ` 3,50,000.

Some important amendment in union budget 2017
A. Fees for delay in filing of return.
[Section 234E - Applicable from Assessment Year 2018-19]
To ensure filing of returns within due date, fee for delayed filing of return
is proposed to be levied. If the return is filed after the due date but on or
before the December 31 of the assessment year, assessee shall be liable to
pay ` 5,000. If return is filed after December 31 of the Assessment year,
the charges shall be ` 10,000.
However, in a case where the total income does not exceed five lakh rupees,
it is proposed that the fee shall not exceed ` 1,000.
Resultant amendment is proposed in penal provisions under Section 271F that
the penalty provision shall not to be made applicable in respect of assessment
year 2018-19 and onwards.

Happiness is not something readymade. It comes from your own actions. - Dalai Lama