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.
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.
ICSI appreciates Budget 2024 for its focus on women, youth, farmers, MSMEs, regulatory infrastructure, sustainability, digital governance, and ease of doing business.
Discover the key highlights of India’s Union Budget 2024-25, including new schemes for employment, skilling, and infrastructure investments. Key tax changes and priorities outlined.
Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised tax slabs for better compliance.
Explore the July 2024 amendments to Customs Notifications Nos. 29-39 and Explanatory Memorandum to Notification No. 51/2024-Customs (N.T.).
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.
