From April 2025, Section 275 amendments standardize the penalty timeline to six months from the end of the quarter in which proceedings or appeals are completed.
From April 2025, updates to Sections 132 & 132B will streamline search and seizure processes, extending approval timelines and updating legal references.
Section 271AAB penalties will not apply to searches initiated under Section 132 after September 1, 2024, as per the Finance Bill, 2025.
Finance Bill 2025 introduces amendments to block assessment provisions, including changes to undisclosed income definition, computation, and time limits for assessments.
Finance Bill 2025 increases the TDS threshold for compensation on compulsory acquisition of immovable property under Section 194LA to ₹5 lakh, effective April 1, 2025.
Section 194K amendment raises TDS threshold on mutual fund unit income from Rs. 5,000 to Rs. 10,000 per year, effective April 2025.
Section 194J increases the tax deduction threshold for professional services, technical services, royalty, and sums under section 28 from Rs. 30,000 to Rs. 50,000.
Section 194-I amendment raises rent TDS threshold to Rs. 50,000 per month, effective April 2025.
Section 194H amendment raises TDS threshold for commission or brokerage payments from Rs. 15,000 to Rs. 20,000, effective from April 2025.
Finance Bill 2025 raises the TDS threshold for commission on lottery ticket sales under Section 194G from ₹15,000 to ₹20,000, effective April 1, 2025.
