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of <h1>Finance Bill 2024: Amendments to Section 43D Remove 'Public Companies' References, Effective April 2025</h1> Clause 15 of the Finance (No. 2) Bill, 2024, proposes amendments to section 43D of the Income-tax Act, effective April 1, 2025. The amendments involve removing references to 'public companies' in the marginal heading and body of the section. Additionally, clause (b) of section 43D and clauses (a) and (b) of the Explanation are to be omitted. Section 43D addresses the taxation of interest income related to bad or doubtful debts, determining tax liability based on when the income is credited or received. These changes apply to the assessment year 2025-2026 and beyond.
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