CAclubindia News
Proposed Amendments in Sections 132 and 132B to Rationalize Search and Seizure Provisions
01 February 2025 at 17:00Amendments proposed in sections 132 and 132B for rationalising provisions
Section 271AAB Penalty Provisions Not Applicable for Searches Initiated After 1st Sept 2024
01 February 2025 at 16:59Non-applicability of Section 271AAB of the Act The existing provisions of sub-section (1A) of section 271AAB of the Act relates to penalty in respect of searches initiated after 15.12.2016.
Proposed Amendments to Block Assessment Provisions for Search and Requisition Cases under Chapter XIV-B
01 February 2025 at 16:59Amendments proposed in provisions of Block assessment for search and requisition cases under Chapter XIV-BVide Finance (No. 2) Act, 2024, the concept of block assessment was introduced by amending provisions of Chapter XIV-B
Reduction in Compliance Burden: TCS on Specified Goods Omitted from April 2025
01 February 2025 at 16:58Reduction in compliance burden by omission of TCS on sale of specified goods Sub-section (1H) of section 206C of the Act,
Budget 2025 Unveils Major Reforms to Rationalize TDS Rates and Thresholds
01 February 2025 at 16:09In a decisive move to simplify tax compliance and boost the ease of doing business, the government has announced sweeping amendments to the Tax Deducted at Source (TDS) provisions.
Rationalisation of Taxation on Capital Gains: Amendments to Section 115AD for Non-Residents
01 February 2025 at 16:09Rationalisation of taxation of capital gains on transfer of capital assets by non-residents
Tax Benefits Extended for Start-Ups: New Timeline for Section 80-IAC Provisions Until 2030
01 February 2025 at 16:06Extension of timeline for tax benefits to start-ups The existing provisions of Section 80-IAC of the Act, inter alia, provide for a deduction of an amount equal to hundred percent of the profits and gains
Amendment to Section 2(14): Clarity on 'Capital Asset' Definition for Investment Funds' Securities
01 February 2025 at 16:05Amendment of Definition of 'Capital Asset'Section 2(14) of the Act defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock in-trade
Clarity on Taxation of ULIPs: Amendments to Section 10(10D) and Capital Gains Tax on Redemption
01 February 2025 at 16:03Bringing clarity in income on redemption of Unit Linked Insurance Policy Clause (10D) of section 10 provides for income-tax exemption on the sum received under a life insurance policy, including bonus on such policy.
Budget 2025: Key Amendments to Section 9 for Non-Residents
01 February 2025 at 16:03Harmonisation of Significant Economic Presence applicability with Business Connection Section 9 of the Act provides for income which shall be deemed to accrue or arise in India.
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