Union Budget News
Budget 2024-25: Section 271FAA Amended for Automatic Exchange of Information (AEOI) Compliance
25 July 2024 at 09:16Amendment of section 271FAA to comply with the Automatic Exchange of Information (AEOI) framework
Budget 2024-25: New Rules for Transfer Pricing of Domestic Transactions
25 July 2024 at 09:15Determination of Arms Length Price in respect of specified domestic transactions in proceedings before Transfer Pricing Officer
Budget 2024-25: New Compliance Rules for Non-Resident Liaison Offices
25 July 2024 at 09:14Submission of statement by liaison office of non-resident in India
Union Budget 2024: ICAI Welcomes Budget 2024-25 Focusing on Employment, Skilling, MSMEs and the Middle Class
25 July 2024 at 09:12The Institute of Chartered Accountants of India (ICAI) welcomes the Budget that focuses on employment, skilling, MSMEs sector and Middle Class.
Budget 2024-25: One-Month Grace Period for TDS/TCS Penalties from 1st April 2025
24 July 2024 at 10:08Proposed amendment to Section 271H of the Budget 2024-25 offers a one-month grace period for TDS/TCS filings to avoid penalties, starting April 2025
Budget 2024 Proposes Six-Year Limit on TDS/TCS Correction Statements
24 July 2024 at 10:06Time limit to file correction statement in respect of TDS / TCS Statements
Budget 2024-25: Exemption from TCS for Certain Entities Starting 1st October 2024
24 July 2024 at 10:05Notification of certain persons or class of persons as exempt from TCS
Budget 2024-25: Black Money Act Liabilities to be Settled Against Seized Assets from October 2024
24 July 2024 at 09:09Adjusting liability under Black Money Act, 2015 against seized assets
Section 80G Amendment: Tax Deduction for Donations to National Sports Development Fund w.e.f 1st April 2025
24 July 2024 at 09:08The Government had set up the aforesaid fund by the name National Sports Development Fund w.e.f 12.11.1998.
Budget 2024-25: Enhanced Powers of Commissioner (Appeals) to Address Pendency from October 2024
24 July 2024 at 09:07Considering the huge pendency of appeals and disputed tax demands at the Commissioner (Appeals) stage, it is proposed that the cases where assessment order was passed as best judgement case under section 144 of the Act, Commissioner (Appeals)
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