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.
Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A of the Income-tax Act, introduced to streamline assessments and reduce litigation.
Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits, and procedural requirements effective from September 2024.
Discover the proposed changes to Section 275 of the Income-tax Act, eliminating ambiguity in penalty imposition timelines. Effective from October 1, 2024, this amendment omits references to Chief Commissioners, streamlining penalty imposition rules.
The Finance Act 2023 integrates sections on refund set off and withholding into section 245 of the Income-tax Act, impacting how refunds are adjusted against tax demands and withheld during pending assessments. Learn about the amendments and their implications effective from October 1, 2024.
Explore amendments to section 253 of Income-tax Act, adjusting time limits for filing appeals to the Income Tax Appellate Tribunal, effective October 2024.
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.
International Financial Services Centre (IFSC) in India is poised for significant tax incentives under the Finance Bill 2024. Effective from April 1, 2025, these amendments aim to bolster the IFSC’s role as a premier global financial hub.
Finance Bill 2024 proposes the sunset of Section 56(2)(viib) from April 2025, eliminating the tax on shares issued above face value for non-public companies.
Discover the new tax incentives for non-resident cruise ship operators in India, including presumptive taxation and lease rental exemptions, effective April 2025.
