Budget 2017 - 2018 - Promoting Digital Economy

PROMOTING DIGITAL ECONOMY  in Budget 2017 - 2018

  • Under scheme of presumptive income for small and medium taxpayers whose turnover is upto 2 crores, the present, 8% of their turnover which is counted as presumptive income is reduced to 6% in respect of turnover which is by non-cash means
  • No transaction above ` 3 lakh would be permitted in cash subject  to certain exceptions
  • Miniaturised POS card reader for m-POS (other than mobile phones or tablet computers), micro ATM standards version 1.5.1, Finger Print Readers / Scanners and Iris Scanners and on their parts and components for manufacture of such devices to be exempt from BCD, Excise/CV duty and SAD