Budget 2024 proposes TCS on notified luxury goods over 10 lakh rupees from January 2025. Learn about this amendment to widen the tax net.
From April 2025, foreign taxes withheld must be included in total income for accurate reporting under section 198. Aims to prevent double deductions.
From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific changes for individuals and HUFs.
From April 1, 2025, firms must deduct 10% TDS on payments to partners exceeding Rs 20,000 annually, under new Section 194T of the Income-tax Act.
From October 2024, TDS under section 194-IA will apply based on total consideration for property sales, not individual payments. Update to prevent evasion.
Explore Budget 2024’s new tax provisions on income from buy-back of shares for domestic companies. Learn how these changes impact shareholders and tax calculations.
The Finance (No.2) Act, 2004 revision increases STT rates on derivatives starting October 1, 2024. Key changes include updated rates on options and futures.
From April 1, 2025, rental income from house properties must be reported under “Income from House Property,” not as business income.
From April 2025, standard and family pension deductions will increase to ₹75,000 and ₹25,000 under the new tax regime, boosting tax benefits for taxpayers.
Learn about the amended provisions allowing non-government employers to deduct up to 14% of employee salaries for pension scheme contributions under sections 36 and 80CCD from April 2025 onwards.
