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/...
Clause (iva) of sub-section (1) of section 36 is amended to increase the deduction for employer contribution to a pension scheme u/s 80CCD from 10% to 14% of the employee's salary in the previous year. Sub-section (2) of section 80CCD is amended to allow deduction up to 14% of the employee's salary for contribution by non-government employers, where the employee's salary is chargeable u/s 115BAC(1A). The amendments are effective from April 1, 2025 and applicable from assessment year 2025-2026 onwards.
Clause (iva) of sub-section (1) of section 36 is amended to increase the deduction for employer contribution to a pension scheme u/s 80CCD from 10% to 14% of the employee's salary in the previous year. Sub-section (2) of section 80CCD is amended to allow deduction up to 14% of the employee's salary for contribution by non-government employers, where the employee's salary is chargeable u/s 115BAC(1A). The amendments are effective from April 1, 2025 and applicable from assessment year 2025-2026 onwards.
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