Explore the proposed changes in TDS regulations in the Union Budget 2024-25, impacting sections 271H, 200, 197, and more. Understand the new amendments and their implications.
Join our live webinar on July 26, 2024, to analyze direct tax amendments in the Union Budget 2024 with CA Bikash Bogi. Register now to secure your spot!
Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!
Section 194T imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.
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 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.
MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2024 (Clauses referred to are clauses in the Bill) FINANCE (No. 2) BILL, 2024 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred […]
Discover highlights of India’s Union Budget 2024-25: low inflation, ₹2 lakh crore for youth schemes, 109 crop varieties, and extensive tax reforms by Finance Minister Nirmala Sitharaman.
On July 23, 2024, the Finance Minister introduced the Finance (No.2) Bill, 2024 in the Lok Sabha, marking a significant legislative milestone in the realm of taxation and customs regulations in India. This introduction follows the directive issued under D.O. F. No. 334/04/2024-TRU from New Delhi on the same date. The Bill proposes a comprehensive […]
Discover key takeaways from India’s Budget 2024-25: economic growth, employment schemes, skilling initiatives, and support for MSMEs. Full details from Nirmala Sitharaman’s speech.
