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/...
The proposal introduces provisions to rationalize the merger of trusts or institutions approved/registered under charitable trust regimes. When such entities merge, accreted income may attract Chapter XII-EB provisions. To provide clarity, new section 12AC prescribes conditions under which the merger shall not attract these provisions. The amendments are effective from April 1, 2025.
The proposal introduces provisions to rationalize the merger of trusts or institutions approved/registered under charitable trust regimes. When such entities merge, accreted income may attract Chapter XII-EB provisions. To provide clarity, new section 12AC prescribes conditions under which the merger shall not attract these provisions. The amendments are effective from April 1, 2025.
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