The Central Board of Direct Taxes (CBDT), has recently issued an explanatory note to the provisions of the Finance Act, 2017.
The circular dated 15th February 2018 provides for a brief note on the amendments made in the year regarding the change in the Act, rate structure etc.
The Finance Act pronounced by the Finance Minister in February 2017 was a special one since it was the first budget after demonetization. The Finance Act, 2017 made some sort of controversies due to the inclusion of provisions for mandatory quoting of Aadhaar with Permanent Account Number (PAN), the merger of Tribunals etc.
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