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 proposed amendment rationalizes the timelines for funds or institutions to file applications seeking approval u/s 80G, which provides for deduction of donations to approved entities. It addresses situations where entities are unable to file applications within specified timelines, preventing unintended permanent exit from section 80G approval. The amendment aims to streamline the application process and timelines for approval u/s 80G, facilitating charitable donations and tax deductions. The amendments will take effect from October 1, 2024.
The proposed amendment rationalizes the timelines for funds or institutions to file applications seeking approval u/s 80G, which provides for deduction of donations to approved entities. It addresses situations where entities are unable to file applications within specified timelines, preventing unintended permanent exit from section 80G approval. The amendment aims to streamline the application process and timelines for approval u/s 80G, facilitating charitable donations and tax deductions. The amendments will take effect from October 1, 2024.
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