https://www.taxtmi.com/circulars?id=67141 Finance Act, 2023 enacts comprehensive amendments: it fixes income tax slabs, surcharge and cess rules; revises TDS/TCS and STT rates; expands deeming under section 9 to gifts to not ordinarily residents; grants and refines IFSC incentives (ODI distribution, aircraft leasing exemptions, tax holiday timing); excludes specified gold EGR conversions from "transfer" with cost/holding period continuity; tightens life insurance exemption limits; prevents double interest deduction and misuse of presumptive schemes; retools NBFC classification for deduction/timing rules; and reforms charity/trust registration, compliance, exit tax and appellate architecture (including Joint Commissioner (Appeals) and e appeals), with most changes effective from assessment years 2023 24 or 2024 25. en-us Tue, 23 Jan 2024 00:00:00 +0530 Tue, 30 Jan 2024 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67141 Finance Act, 2023 enacts comprehensive amendments: it fixes income tax slabs, surcharge and cess rules; revises TDS/TCS and STT rates; expands deeming under section 9 to gifts to not ordinarily residents; grants and refines IFSC incentives (ODI distribution, aircraft leasing exemptions, tax holiday timing); excludes specified gold EGR conversions from "transfer" with cost/holding period continuity; tightens life insurance exemption limits; prevents double interest deduction and misuse of presumptive schemes; retools NBFC classification for deduction/timing rules; and reforms charity/trust registration, compliance, exit tax and appellate architecture (including Joint Commissioner (Appeals) and e appeals), with most changes effective from assessment years 2023 24 or 2024 25. Circulars Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67141