Additionally, finance minister Arun Jaitley proposed that category I and II foreign portfolio investors (FPIs) should be exempted from taxation on indirect transfers, which made investors a happy lot. Both key indices Sensex and Nifty reclaimed their key levels of 28,000 and 8,700 for the first time, scoring their biggest single-day gain since October 2016. BSE Sensex on Wednesday rose 485.68 points, or 1.76%, to 28,141.64 while the Nifty 50 rises 155.10 points, or 1.81%, to 8,716.40 after finance minister Arun Jaitley’s budget speech Zero income tax will have to pay a penalty if the circumstances of going too late returns Budget- 2017-18 Finance Minister Arun Jaitley's budget provision for this matter. Who do not have much income as the taxpayer may take lakh and Rs 1,000 fine on them. Upon entering aitiara runo December 10000 will be fine. So whose works have filled the void, but they delay the returns will be penalized. The CBDT hasasked the tax authorities to accelerate the investigation TDS.