From April 2025, the Income-tax Act limits the time for issuing default orders to six years or two years from correction statements. Learn more about these changes.
Effective April 2025, Section 200A will include processing for statements filed by non-deductors. This change aims to improve the handling of various tax-related statements.
ICAI applauds Budget 2024-25 for its focus on employment, skilling, MSMEs, and the middle class. Discover key tax reforms and economic initiatives.
Understand IFSCA’s Ship Leasing Circular FAQs 2024. Learn permissible activities, definitions, and guidelines for ship lessors in International Financial Services Centres.
Finance Bill 2024 updates Section 80G to reflect “National Sports Development Fund” and changes approval procedures for charities. Effective April 1, 2025.
Explore the amendment to Section 194F removing TDS on Mutual Fund and UTI unit repurchases, effective from October 2024 under the Finance Bill 2024.
Budget 2024 proposes amendments to section 153 and section 139 of Income Tax Act to address procedural difficulties and streamline timelines for tax assessment, reassessment, and recomputation.
Learn about the proposed amendments to Section 192 of the Income-tax Act, allowing salaried employees to claim credit for TCS and all TDS deductions, easing compliance and cash flow concerns. Effective October 2024.
From October 1, 2024, the Black Money Act, 2015 will be included in tax clearance certificate requirements for Indian residents leaving the country.
Learn about the amendment to section 194-IB of the Income-tax Act, reducing TDS on rent payments from 5% to 2% effective from October 1, 2024. Understand implications for individuals and HUFs paying rent exceeding ₹50,000/month to residents.
