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of <h1>Finance Bill 2017: Cash Donation Deductions Limited, New Rules for Payments and Transactions to Boost Digital Economy</h1> The Finance Bill, 2017 introduces measures to promote a digital economy and reduce cash transactions. Amendments to section 80G disallow deductions for cash donations over 2,000. Sections 32 and 35AD are amended to disallow depreciation and capital expenditure deductions for cash payments exceeding 10,000. Section 40A's cash payment threshold is reduced from 20,000 to 10,000 per day. Section 44AD's presumptive income rate is reduced from 8% to 6% for digital payments. Section 269ST prohibits cash transactions of 3 lakh or more, with penalties under section 271DA for violations. These changes aim to curb black money and enhance transparency.
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