Budget 2014- Analysis of Income Tax provisions by BC (21st July’ 2014)

Disallowance restricted to 30% due to non-deduction of TDS. New chapter inserted for Business Trust. Exemption from Capital gain by reinvestment in one residential house in India. Forfeiture of advance receipt shall be taxable. Increase in the limit of deduction under Section 80C from Rs. 100,000 to Rs. 150,000.