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/...
The 2% equalisation levy on consideration received by e-commerce operators for e-commerce supply or services will not be applicable from August 1, 2024. Income arising from e-commerce supply or services made, provided, or facilitated between April 1, 2020, and July 31, 2024, will be exempt from tax u/s 10(50) of the Income Tax Act, subject to certain conditions. The amendments aim to address ambiguity and compliance burden concerns regarding the equalisation levy's scope.
The 2% equalisation levy on consideration received by e-commerce operators for e-commerce supply or services will not be applicable from August 1, 2024. Income arising from e-commerce supply or services made, provided, or facilitated between April 1, 2020, and July 31, 2024, will be exempt from tax u/s 10(50) of the Income Tax Act, subject to certain conditions. The amendments aim to address ambiguity and compliance burden concerns regarding the equalisation levy's scope.
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