Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025...
TDS on property transfer based on aggregate payment to all sellers, not individual payments below Rs. 50L. Prevents misinterpretation. Effective 1/10/...
Substitution of new section for section 153 - Time limit for completion of assessment, reassessment and recomputation. - the period, for completion of assessment under section 143 or section 144 be changed from existing two years to twentyone months from the end of the assessment year in which the income was first assessable;
Substitution of new section for section 153 - Time limit for completion of assessment, reassessment and recomputation. - the period, for completion of assessment under section 143 or section 144 be changed from existing two years to twentyone months from the end of the assessment year in which the income was first assessable;
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