Salary & family pension deductions enhanced for new tax regime. Standard deduction up from Rs. 50K to Rs. 75K. Family pension deduction up to Rs. 25K/...
Income Tax: In best judgment cases where taxpayers remain unresponsive to the Faceless Assessing Officer, the Commissioner (Appeals) shall be empowered to set aside the assessment order and refer the case back to the Assessing Officer for fresh assessment. Consequential amendment in section 153(3) provides the time limit for disposal of cases set aside by the Commissioner (Appeals). This amendment takes effect from October 1, 2024, applicable to appellate orders passed by the Commissioner (Appeals) on or after that date.
Income Tax: In best judgment cases where taxpayers remain unresponsive to the Faceless Assessing Officer, the Commissioner (Appeals) shall be empowered to set aside the assessment order and refer the case back to the Assessing Officer for fresh assessment. Consequential amendment in section 153(3) provides the time limit for disposal of cases set aside by the Commissioner (Appeals). This amendment takes effect from October 1, 2024, applicable to appellate orders passed by the Commissioner (Appeals) on or after that date.
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