Post Budget Quote – Amit Ganatra, Partner- Tax & Regulatory Services, BDO India
Announcement on the limit of deduction u/s 54 and 54F to INR 10 crores appears to be one more provision for curbing tax exemption to HNIs and Ultra HNIs. A similar measure was introduced in an earlier Budget on PF contribution limitation for tax-free interest income. – Amit Ganatra, Partner- Tax & Regulatory Services, BDO India