Amendments in Union Budget 2017

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BUDGET HIGHLIGHTS FEB-2017 2

BUDGET HIGHLIGHTS FEB-2017 3ARAJ & Associates

Proposed Amendments in Finance Bill

• Income Tax Slab rates applicable for Individual, HUF, AOP, BOI and Artificial Juridical Person for the AY 2018-19 are:

Taxable Income Individual Senior Citizen (above 60

years)

Super Senior Citizen

(above 80 years)

Upto ₹ 2,50,000 Nil Nil Nil

₹ 2,50,001 to ₹ 3,00,000 5% Nil Nil

₹ 3,00,001 to ₹ 5,00,000 5% 5% Nil

₹ 5,00,001 to ₹ 10,00,000 20% 20% 20%

Above 10,00,000 30% 30% 30%

Slab Rates:

ARAJ & AssociatesBUDGET HIGHLIGHTS FEB-2017 4

Surcharge:Taxable Income Percentage of

Surcharge on

Tax

Upto ₹ 5,00,000 Nil

₹ 50,00,001 to ₹ 1

Cr

10%

Above ₹ 1 Cr 15%

In addition to above, an education cess equivalent to

2% and secondary and higher education cess at the

rate of 1% of the tax shall also be chargeable on the

total income of the assessee.

EC and SHEC

Income Tax slab rate applicable to Companies

Gross Turnover ≤ ₹ 50 Cr - 25 % of Taxable Income

Gross Turnover > ₹ 50 Cr - 30 % of Taxable Income


Relief for the New House Buyers

In order to promote affordable housing projects and to achieve dream of housing for all,

lawmakers have made following amendments: (Sec – 80IBA, w.e.f AY 2018-19)

Certain residential projects consisting of residential units with carpet area (earlier built up area) upto 30

sq. m (for projects in metropolitan cities) and upto 60 sq. m (for projects in other cities) are eligible for

100% deduction in respect of the profits and gains derived from such projects;

Period of construction of project has been increased from 3 years to 5 years.


• The holding period of immovable property for computing Long Term Capital Gain has been reduced to 2 Years as

against 3 Years. (Sec-2(42A) w.e.f AY 2018-19)

• In order to provide relief to Individuals/HUF’s who have pooled their land for formation of new capital city of

Andhra Pradesh, Lawmakers have exempted the compensation received by landowners in lieu of land transferred

under land pooling scheme notified under the provisions of Andhra Pradesh Capital Region Development authority Act,

2014. Further the cost of acquisition of reconstituted plot which was handed over to the assessee shall be deemed be

its stamp duty value on the last day of the Second Financial Year after the end of financial year in which the possession

of such asset was handed over to the assessee. (Sec 10(37A), Sec 49, w.r.e.f AY 2015-16)

• Conversion of preference share into equity share shall not be regarded as transfer as per section 47 of the Act.

Therefore such transaction shall not be subject to capital gain tax. (Sec 2(42A),47,49, w.e.f AY 2018-19)

ARAJ & Associates

Capital Gain Tax


• Currently in the joint development agreement the owner was liable under Capital Gain Tax in the year in which the possession

of the property was handed over to the developer. However it is now proposed that the capital gain shall be taxable in the year

of completion/part completion of the project (completion certificate is received). Further the sale consideration shall be the

stamp value of the property transferred along with any cash consideration received. Further the cash consideration shall be liable

for tax deduction at source @ 10%. (sec 45(5A), 49, 194IC w.e.f. AY 2018-19)

•Currently the base year for computation of Capital Gain on property purchased before 1981 was to be taken as 1981 and the

benefit of indexation was provided by applying Cost inflation indexation of the FMV as on 01.04.1981. However it is now

proposed to change the base year from 1981 to 2001. Hence for computing Indexed value, Fair Market Value of property shall be

taken as on 01.04.2001. (Sec 55, 48 w.e.f AY 2018-19)


• Currently exemption from capital gain on transfer of long term assets was provided for assessee who invests in the

specified bonds such as NHAI and RECI. However the scope has now been widened by covering all investments in any

bonds redeemable after three years as shall be notified by the Central Government. (Sec 54EC, w.e.f. AY 2018-19)

• Tax @10% (plus surcharge and cess) shall be applicable on profits earned from sale of carbon Credits. Also an assessee

shall not be allowed to claim expenses or allowance against such income. (Sec 115BBG, w.e.f. AY 2018-19)

• Long Term capital gain on sale of listed equity shares shall be exempt from income tax only if STT was paid at the

time of acquisition of such shares. However in certain cases such as IPO, FPO, bonus or right issue, long term capital gain

shall be exempt even if STT is not paid at the time of acquisition of such shares. (Sec 10(38), AY 2018-19)

• The consideration for sale of unquoted shares of Indian company shall be deemed to be the FMV of the shares when the

actual consideration paid for such shares is less the FMV. (Sec 50CA, w.e.f AY 2018-19)


• Previous year losses are not allowed to be carried forward, if share holding pattern of a company (where public are not

substantially interested) changes by more than 51 %. Now, it has been proposed that in case of eligible start-ups, the

loss incurred during the period of seven years from the date of incorporation shall be carried forward and be

adjusted with the future profit in case all the share holders as on last day of the previous year in which the loss

was incurred held the same number of shares with voting rights. (Sec 79, w.e.f. AY 2018-19)

• Presently 100% deduction was provided with respect to profit earned by eligible startup for consecutive three years out

of the 5 years. Now it has been proposed to extend the block of 5 years to seven years. (Sec 80IAC, w.e.f. AY 2018-19)

ARAJ & Associates

Incentive for Start ups


• MAT credit/AMT credit shall be Carried forward upto 15 Assessment Years from existing 10 Assessment Year.

(Sec 115JAA/115JB, w.e.f. AY 2018-19)

• It is not mandatory to maintain books of accounts in case of assessee whose turnover is less than Rs. 25 lakh and

income is below 2.5 lakhs. (Sec 44AA, w.e.f. AY 2018-19)

• Amount exceeding Rs. 10,000 paid in cash shall not be allowed as business expenditure. Presently the limit is Rs.

20000. Presently Income Tax Act does not restricts cash payment for incurring capital expenditure, however now

it has been proposed that if any capital asset exceeding Rs. 10000 is acquired in cash, then the assessee shall not be

eligible to avail depreciation on such capital asset. (40A(3), 32, 35AD & 43 w.e.f AY 2018-19)

• An assessee is not required to get its Books of accounts audited if its total turnover during the previous financial

year does not exceed Rs. 2 crore and the assessee declares a minimum profit of 8% of the total turnover. (44AB,

w.e.f AY 2018-19)ARAJ & Associates

Profit and Gain from Business & Profession


• Presently income earned on NPA account is taxable on cash basis only for Scheduled Bank, PFI, SFC, SIIC, HFC

etc, however this benefit was not available to cooperative bank. Now same has been extended to co-operative

banks other than a primary agricultural credit society or a primary co-operative agricultural and rural development

bank. Now income earned by such cooperative bank shall be taxable on actual receipt basis. (Sec 43D/43B,

w.e.f AY 2018-19)

• Presently scheduled banks, non scheduled banks and cooperative banks are allowed to claim deduction with

respect to bad and doubtful debt for an amount not exceeding 7.5 % of the total income or 10 % of the

aggregate advances, however now this threshold limit has been increased from 7.5 % to 8.5% of total income.

(Sec 36(1)(viia), w.e.f AY 2018-19)

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Banking Industry


• New section has been introduced where no person shall receive an amount of three lakhs or more in otherwise

than by an account payee cheque/account payee bank draft/electronic clearing system through bank from a single

person /in respect of a single transaction/transaction relating to one event. If any person makes the cash payment

in excess of Rs. 3,00,000/-, he shall be liable to penalty equivalent to the amount paid in cash. (Sec 269ST, 271DA,

w.e.f 01.04.2017)

• It is proposed that no Political party shall received donation exceeding Rs. 2000 otherwise than by an account

payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank

account or through electoral bonds and shall furnish return of Income before the due date for claiming exemption.

(Sec 13A, w.e.f. 01.04.2017)

• Presently presumptive tax @ 8 % was applicable for traders whose gross turnover does not exceed Rs. 2 Crore.

However it has been proposed to reduce the said rate to 6 % with respect to payments received in mode other than

cash. However for the cash receipt rate of 8 % shall be applicable. (Sec 44AD, w.e.f. AY 2018-19)

ARAJ & Associates

Promotion of cashless transactions


• Deduction under 80G with respect to donation shall not be available if amount exceeding Rs. 2000 is paid in

cash. (Sec 80G, w.e.f. AY 2018-19)

• Exemption on partial withdrawal not exceeding 25% of the contribution made by an employee in accordance with

terms and conditions is exempt for employee who has subscribed NPS.

• Deduction for amount deposited in National Pension Systems Trust (NPS) shall be increased to 20 % in case of

individual other than employee, earlier only employee was covered. (Sec 80CCD, w.e.f AY 2018-19)

• The existing rebate of Rs. 5000 for person whose income was below 5 lakh shall be reduced to Rs. 2500 for person

whose income is below Rs. 350000. (Sec 87A, w.e.f AY 2018-19)

• It has been clarified that the deduction u/s 10AA shall be allowed from total income of the assessee and not total

income of the undertaking. (Sec 10AA, w.e.f AY 2018-19)

• Deduction u/s 80CCG has been removed.

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Deductions


• Provision of collection of tax at source (TCS) of sale of jewellery exceeding Rs. 500000 in cash has been omitted in

the budget. (Sec 206C, w.e.f 01.04.2017)

• Insurance agents can file declaration in Form 15G/15H for non deduction of tax at source on insurance commission

income if his total income is below taxable limit. (Sec 194D, w.e.f. 01.06.2017)

• Payments received in respect of any award or agreement which has been exempted from levy of income tax under

section 96 of (except those made under section 46) of RFCTLAARR Act shall not be subject to deduction of TDS.

(Sec 194LA, w.e.f. 01.04.2017)

• TDS rate have been reduced from 10% to 2% u/s 194J in case of payment made to person who is engaged in the

business of operation of call centre. (Sec 194J, w.e.f 01.06.2017)

ARAJ & Associates

TDS/TCS and Advance Tax


• Exemption from TCS have been provided in case of sale of motor vehicle exceeding Rs. 10 lakh in case of buyers such

as the Central Government, a State Government, an embassy, a High Commission, legation, commission, consulate and the

trade representation of a foreign State, local authority as defined in explanation to clause (20) of Section 10 and a public

sector company which is engaged in the business of carrying passengers. (Sec 206C, w.e.f. 01.04.2017)

• Professionals shall be liable to pay advance tax in single instalment i.e. on or before 15th March, if they are opting to pay

tax under presumptive taxation scheme. However they shall be liable to pay interest u/s 234C on short payment of advance

tax. Further if the advance tax liability has been short paid due to wrong estimation of dividend income as specified under

section 115BBDA, then such income shall be excluded for the purpose of computation of interest on short payment of

advance tax. (Sec 211, w.e.f. AY 2018-19)


• Every assessee being Individual and HUF other than assessees who were subject to tax audit u/s 44AB shall be liable to

deduct tax at source at the rate of 5%, if the rent paid exceeds Rs. 50,000/- per month. However no separate TAN shall be

required by such assessee and they will be required to make single tax payment in the last month of the previous year or the

month in which property is vacated. It has also been provided that TDS payable shall not exceed the total rent payable for the

last month. (Sec 194IB, 2013A, w.e.f 01.06.2016)

• Any person paying any sum or amount, on which tax is collectable at source shall furnish his PAN to the person responsible

for collecting such tax, failing which tax shall be collected at the twice the rate mentioned in the relevant section under

Chapter XVII BB or at the rate of five per cent, whichever is higher. (206CC)


• Currently Real Estate Developers were liable to pay income tax on notional rent on House property held in stock in trade

even if such property remains vacant. However now the real estate developers have 1 year time period from the end of

the previous year in which the completion certificate was obtained after which they shall be liable to pay income tax on

notional rent. (Sec 23, w.e.f AY 2018-19)

• It has been proposed that setoff of loss under the head “Income from House property’’ shall be restricted to Rs.

200000 from other head of Income. However unabsorbed loss shall be allowed to be carried forward for setoff in

subsequent years. (Sec 71, w.e.f AY 2018-19)

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House Property


• Benefit of concessional rate of TDS @ 5 % on Interest paid to non resident in lieu of borrowings in foreign currency or long term

infrastructure bond has been extended till 1st July 2020. Further similar benefit was granted on interest paid to FIIs and QFIs on their

investments in Government securities and rupee denominated corporate bonds. (Sec 194LC, 194LD, w.e.f. AY 2018-19)

• It is proposed to exempt income of Foreign company from sale of leftover stock of crude oil from strategic reserves at the expiry of

agreement or arrangement. (Sec 10(48A, w.e.f. AY 2018-19)

• Transfer of Rupee Denominated Bonds from Non Resident to non Resident shall not be regarded as transfer hence no capital gain tax

should be levied. Further any currency gain on such transfer due to change in the currency rates shall be ignored. (Sec 47, 48, w.e.f AY

2018-19)

• Presently the assessee is subject to Domestic Transfer Pricing provision with respect to ‘Related Party Transaction’ covered under

section 40A(2)(b). However now this provision has been omitted in Finance Bill, 2017. (Sec 92BA, w.e.f 01.04.2017)

ARAJ & Associates

International Taxation


• Presently there is no capital gain on transfer of share of Indian company by demerged foreign company to a resulting

foreign company. It has been proposed that the cost of holding of the resulting company shall be the cost of that of the

demerged company. (Sec 49, w.e.f AY 2018-19)

• In case of dispute of Foreign Tax Credit, the Assessing Officer shall rectify the assessment order or an intimation giving the

credit of the foreign tax, if the assessee within six months from the end of the month in which the dispute is settled, furnishes

proof of such settlement. (Sec 155, w.e.f AY 2018-19)

• It has been decided to merge the Authority for Advance Ruling (AAR) for income-tax, central excise, customs duty and service

tax.


• Now, the power in respect of inquiry proceedings under the act as referred u/s 133(6) may also be exercised by the Joint

Director, the deputy Director and the assistant director. (Sec 133, w.e.f AY 2017-18)

• Department official can now conduct survey at any place where business or profession is carried on or where books of

accounts or other documents or any part of cash or stock or other valuable article or thing relating to the business or

profession are kept and shall include any place, at which an activity for charitable purpose is carried on. (Sec 133A,

w.e.f. AY 2017-18

• In cases where tangible evidence(s) are found during a search or seizure operation (including 132A cases) and the same is

represented in the form of undisclosed investment in any asset, department can issue notice for an assessment year or

years beyond the sixth assessment year upto the tenth assessment year, if the escaped amount exceeds Rs. 50 lakh in one

year or in aggregate in the relevant four assessment year. (Sec 153A, w.e.f AY 2018-19)

ARAJ & Associates

Assessments


• Presently income tax return filed by the assessee who is subject to scrutiny assessment is not required to be processed

before the issuance of assessment order. However, now this condition has been omitted meaning thereby that department

has to now process returns and issue refunds even if the case of assessee is selected for scrutiny assessment. However in

order to save interest of the revenue, power is given to the assessing officer with prior approval of principal officer and

reasons recorded in writing to withhold the refund amount if he is of the view that it may adversely affect the recovery of

revenue.(Sec 143(1D), 241A, w.e.f AY 2017-18)

• Reason to believe to conduct search etc is not required to be disclosed to any person or any authority or the appellate

tribunal.(Sec 132, 132A, w.r.e.f date of insertion of the section)


Other Amendments

• Presently Resident individual, HUF and firm have to pay income tax @ 10% on dividend income in excess of ₹ 10 lakhs.

However it is proposed to enlarge the coverage of tax on such dividend income to cover all the resident assessees except

domestic company, certain funds, trusts and institution. (Sec 115BBDA, w.e.f. AY 2018-19)

• Any person referred in clause (23AAA), (23EC), (23ED), (23EE) and (29A) of section 10 shall be required to mandatorily

furnish return of Income. (Sec 139, w.e.f. AY 2018-19)

• For AY 2018-19 onwards if Return of Income is filed after due date but before 31st December, a penalty of Rs. 5,000 shall

be charged and beyond 31st December penalty of Rs. 10,000. However in case where the total income does not exceed Rs.

5,00,000 the penalty amount shall be restricted to Rs. 1000. (Sec 234F, w.e.f. AY 2018-19)


• Penalty of Rs 10,000 is proposed on accountant, merchant banker and registered valuer if he furnishes incorrect information

in a report or certificate under any provisions of the act. (Sec 271J, 273B, w.e.f AY 2017-18)

• Trust or institution which has obtained registration u/s 12AA has subsequently adopted or undertaken modification of the

object which do not confirm to the condition of registration, it shall be required to obtain fresh registration by making

application within a period of 30 days from the date of change. Further it has been made mandatory to file the Return of

Income as per time allowed u/s 139 of the Act. (Sec 12A, 12AA, w.e.f AY 2018-19)


Section Existing Time Limit Amended Time Limit

144/143(2) 21 months from the end of

assessment year

A. Y. 2018-19: 18 months from the

end of assessment year

A Y 2019-20 onwards: 12 months

from the end of assessment year

147 9 months from the end of financial

year in which notice u/s 148 is issued

In respect of notices Served after

01.04.2019, 12 months from the end

of F Y in which notice is served.

Fresh assessment (253/254/264) 9 months from the end of financial

year in which order u/s 253/254/264

is received

In respect of orders received after


of F Y in which order is received.

Assessment/verification other than

above, in pursuance of order u/s

250/254/260/262/263/264

9 months from the end of financial

year in which order

u/s250/254/260/262/263/264 is

received

In respect of orders received after


of F Y in which order is received.

153-time limits for completion of assessment, reassessment and re-

computation and reducing the time for filing revised return



Notices issued before 01.06.2016 and

assessment not completed before

01.06.2016 due to exclusion of time

limit as referred in explanation 1

(142A/129/158A/245C/245Q

/144BA etc.)

The limit was expired due to sub

section 9 introduced by Finance Act,

2016.

It is proposed to remove the effect of

sub section 9 by providing that in

respect of notice issued on or before

01.06.2016 and assessment not

completed before 01.06.2016 due to

exclusion of time limit as referred in

explanation 1 (142A/129/158A

/245C/245Q /144BA etc.)

139(5) Revised Return 1 year from the end of assessment

year.

Upto end of relevanty assessment

year or before completion of

assessment, which ever is earlier.

153B 153A

29 months from the end of the

financial year in which the last of the

authorisations for search under

section 132 or for requisition under

section 132A was executed.

153A

Search conducted in 2018-19: 18

months from the end of the financial

year in which the last of the

authorisations for search under

section 132 or for requisition under

section 132A was executed.

Search conducted in 2019-20

onwards: 12 months.ARAJ & Associates



153C

Time limit for assessment of person

on whom search is conducted or 9


year in which books of accounts or

documents or assets seized or

requisitioned are handed over under

section 153C to the Assessing Officer

having jurisdiction over such other

persons, whichever is later.

153C (w.e.f 01.04.2017)

Time limit for assessment of person

on whom search is conducted or 12


year in which books of accounts or

documents or assets seized or

requisitioned are handed over under

section 153C to the Assessing Officer

having jurisdiction over such other

persons, whichever is later.

New Explanation to section 153B Where a proceeding before the

Settlement Commission abates under

section 245HA, the period of

limitation available under this section

for assessment or reassessment shall

after the exclusion of the period

under sub-section (4) of section

245HA shall not be less than one

year; and where such period of

limitation is less than one year, it shall

be deemed to have been extended to

one year.



153B(3): Notices issued before




explanation 1

(142A/129/158A/245C/245Q

/144BA etc.)

The limit was expired due to sub

section (3) introduced by Finance Act,

2016.

It is proposed to remove the effect of

sub section (3) by providing that in

respect of notice issued on or before




explanation 1 (142A/129/158A

/245C/245Q /144BA etc.)


BUDGET HIGHLIGHTS FEB-2017 29ARAJ & Associates

1) Negative List of Services- Process amounting to manufacture omitted


• Legislature has proposed to omit the services provided by way of carrying out any process amounting

to manufacture or production of goods excluding alcoholic liquor for human consumption” from the

negative list of services.

• However, such services shall remain exempt from service tax as this activity is covered under Mega

Exemption cation No. 25/2012-ST dated 20.06.2012.

• Consequential amendments is also made in the definition by omitting the definition of “process

amounting to manufacture” and by incorporating the definition of “process amounting to

manufacture” in the aforesaid exemption notification.

ARAJ & Associates

2) Authority of advance ruling


• Authority for advance ruling for customs, central excise and service tax has been merged with

Authority for advance ruling constituted under section 245-O of the Income-tax Act, 1961.

• Section 245P of the Income-tax Act, 1961 provides that no proceeding before, or pronouncement of

advance ruling by the Authority for Advance Ruling would be invalidated on the ground merely due

to any vacancy or defect in the constitution of the Authority. In view of the same, Section 96B

relating to vacancies not to invalidate proceedings is being omitted.

• Application fee for seeking advance ruling has been increased from Rs. 2500/- to Rs. 10000/-

• Time limit for pronouncement of advance ruling has also been extended from 90 days to a more

realistic time limit of six months.

• A new section has been inserted in the finance act so as to transfer all the pending application before

the authority be transferred to the merged authority.

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3) No Service tax on upfront amount received against long term lease

4) Exemption to insurance services provided by Defense insurance funds


• A blanket exemption has been provided to the upfront amount received by the State Government industrial

development corporation or undertaking industrial units by way of grant of long term lease of thirty years or

more of industrial plots from 01.06.2007 to 21.09.2016.

• State Government industrial development corporation or undertaking industrial units have been allowed to claim

refund of the service tax which has been paid to the government within the period of six months from the date

on which finance bill, 2017 receives the assent of the President.

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• Legislature has proposed to exempt Army, Naval and Air Force Group Insurance Funds by way of life insurance

to the members of the Army, Navy and Air Force formed under the Group Insurance Schemes of the Central

Government from 10.09.2004 to

• Such defense insurance funds have been allowed to claim refund of the service tax which has been paid to the

government within the period of six months from the date on which finance bill, 2017 receives the assent of the

President.

5) Service Tax (Determination of Value) Rules, 2006


• Rule 2A of valuation rules has been amended so as to clarify that value of service shall not include the value of

material and value of land or undivided share of land transferred in provision of service. This amendment was

made in light of the judgment of Hon’ble Delhi High Court delivered in the case of Suresh Kumar Bansal,

wherein it was held that in the absence of valuation mechanism, legislature cannot collect service tax on sale of

residential and commercial units.

• The aforesaid amendment has been made applicable with retrospective effect so as to nullify the effect of

judgment and empower the service tax department to levy and collect tax on such services.

• Further a new sub rule is inserted in the aforesaid rules to provide abated rate of tax for builders which was

earlier available to the builders/developers vide Notification No. 26/2012-ST dated 20.06.2012.

• Aforesaid amendments will not change the liability of builders/developers as the sole purpose of aforesaid

amendment was to nullify the effect of judgment of high court.

• However, the aforesaid amendment has left a big room for litigation as while making aforesaidamendment, lawmakers failed to amend consequent amendment in the definition of works contractwhich does not covers services provided by builders/developers within its scope.

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5) Exemption


• The scope of services provided by IIM has been extending deleting the term “residential”. Now all the two year

full time Post Graduate Programmes (PGP) in Management for the Post Graduate Diploma in Management

(PGDM), to which admissions are made on the basis of the Common Admission Test (CAT), conducted by IIM

shall be exempt from payment of service tax.

• Under the Regional Connectivity Scheme (RCS), exemption from service tax is being provided in respect of the

amount of viability gap funding (VGF) payable to the airline operator for the services of transport of passengers,

with or without accompanied belongings, by air, embarking from or terminating in a Regional Connectivity

Scheme (RCS) airport, for a period of one year from the date of commencement of operations of the Regional

Connectivity Scheme (RCS) as notified by Ministry of Civil Aviation

ARAJ & Associates

6) Cenvat Credit Rules


• An amendment has been made in Rule 6 of CENVAT Credit Rules, 2004 by inserting a proviso in Explanation to

Rule 6(3D). It has been clarified that the value of service provided by banks and financial institutions including

NBFCs by way of extending deposits, loans or advances against consideration in the form of interest or discount

shall be considered for the purpose of computation of eligible CENVAT Credit.

• In order to speed up the process of transfer of CENVAT Credit, the legislature has specified the time limit of 3

months in which Deputy Commissioner of Central Excise or Assistant Commissioner of Central Excise shall

allow/reject the assessee’s application. However, this time limit of 3 months can further be exceeded for 6 months

Principal Commissioner of Central Excise or Commissioner of Central Excise,, if there is a sufficient cause for

the same and reasons for the same are recorded in writing.

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For any query please contact:

A R A J & Associates

Chartered Accountants

A2B/16A, Ekta Appt.,

Paschim Vihar,

New Delhi-110063

[email protected]

011-45564490, +91 9899795588

www.arajassociates.com