Explore section 194G amendment reducing TDS from 5% to 2% on commission from lottery ticket sales, effective from October 2024. Understand its impact here.
Understand Section 194H of the Income-tax Act: It mandates a 5% TDS on commission or brokerage payments to residents, soon reducing to 2% from October 2024.
Learn about the amendment to the definition of Specified Mutual Fund under section 50AA of the Finance Act, 2023, impacting funds investing in debt and money market instruments. Changes effective from April 2026.
Learn about the merger of trusts under India’s tax exemption regimes as proposed in the Finance Bill 2024. Discover the conditions and implications under new Section 12AC of the Income-tax Act effective from April 1, 2025.
The Finance Bill 2024 proposes amendments to Section 11 of the Income-tax Act, enabling trusts to claim exemptions under new clauses (23EA), (23ED), and (46B) of Section 10 from April 1, 2025.
The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced holding periods, revised tax rates, and alignment of provisions for resident and non-resident taxpayers.
Explore amendments to section 80G for filing approval applications by funds and institutions, effective from October 2024, ensuring compliance with donation deduction norms under the Income-tax Act.
Learn about the updated timelines for processing applications by trusts, funds, and institutions seeking tax exemption under section 12AB or approval under section 80G, effective from October 2024.
Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes to streamline exemptions and procedures. Changes effective from October 1, 2024.
Understand amendments to trust registration timelines under Income-tax Act section 12A. Learn how delays can be condoned by the Commissioner to avoid tax implications. Effective from October 2024.
