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    <title>Salient Features of Direct Tax Proposals in Union Budget 2017</title>
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    <description>Direct tax proposals revise Affordable Housing rules and capital gains treatment by redefining carpet area, extending completion timelines, deferring notional rental taxation, reducing the holding period for long-term capital gains, shifting the cost base year, expanding reinvestment options, and fixing tax timing for joint development. Complementary measures include start-up reliefs, corporate tax reductions for smaller firms, extended carry-forward of MAT/AMT credits, digital-economy incentives under presumptive taxation, tightened cash transaction limits, and enhanced transparency in electoral funding through donation limits and electoral bonds.</description>
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