Finance Minister Nirmala Sitharaman has announced that the Budget 2024 has introduced several significant amendments to the Income Tax Act of 1961, which will come into effect on October 1, 2024.
Section 45 of the Income Tax Act, 1961, provides that any profits or gains arising from the transfer of a capital asset effected in the previous year will be chargeable to income tax under the head 'Capital Gains'.
Tax audit limit specifies the threshold for businesses and professionals, beyond the limit must get their accounts audited under Section 44AB of the Income Tax Act.
As per Notification No. 12/2024- Central Tax dated 10 July, 2024 published by the Central Board of Indirect Taxes and Customs (CBIC), major changes in the GST Act will have an impact in the GST returns filing
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training