https://www.taxtmi.com/article/detailed?id=13453 The principal change is a new Income Tax Bill simplifying direct tax law and introducing a restructured slab regime with a zero tax threshold for lower income individuals and a rebate to eliminate tax liability at that level. Administrative reforms include rationalisation of TDS/TCS rates and thresholds, higher senior citizen deduction limits, extended updated return timelines, compliance reliefs for small charitable trusts, allowance for two self occupied properties, a three year block for transfer pricing determination, expansion of safe harbour rules, and digitalisation of tax orders and dispute resolution. en-us Sat, 01 Feb 2025 16:41:38 +0530 Sat, 01 Feb 2025 16:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13453 The principal change is a new Income Tax Bill simplifying direct tax law and introducing a restructured slab regime with a zero tax threshold for lower income individuals and a rebate to eliminate tax liability at that level. Administrative reforms include rationalisation of TDS/TCS rates and thresholds, higher senior citizen deduction limits, extended updated return timelines, compliance reliefs for small charitable trusts, allowance for two self occupied properties, a three year block for transfer pricing determination, expansion of safe harbour rules, and digitalisation of tax orders and dispute resolution. Articles Budget - Tax Proposals Sat, 01 Feb 2025 16:41:38 +0530 https://www.taxtmi.com/article/detailed?id=13453