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of <h1>Income Tax Act Update: Section 10 Amended with New Exemptions and Deadlines for ETFs, Cruise Ships, Buybacks, and E-commerce.</h1> The amendments to Section 10 of the Income-tax Act, effective from April 1, 2025, include several changes. Clause (4D) now recognizes retail schemes or Exchange Traded Funds regulated under the International Financial Services Centres Authority Act, 2019. Clause (15B) exempts income from lease rentals of cruise ships between subsidiaries of the same holding company in India until April 1, 2030. Clause (23C) specifies application deadlines for approval. Clause (34A) excludes buybacks post-October 1, 2024. Clause (50) redefines income subject to equalization levy, covering specified services and e-commerce activities until August 1, 2024.
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