https://www.taxtmi.com/article/detailed?id=13667 The Bill replaces the Assessment Year/Previous Year regime with a single Tax Year, raises presumptive taxation thresholds for businesses and professionals, retains capital gains rates, extends filing deadlines, and provides digital transaction audit relief. It restricts housing loan interest deduction to set off against rental income only, removes HRA exemption, specifies a standard deduction, limits deductible employer retirement contributions by reference to basic salary percentages, and preserves exclusive tax audit rights for Chartered Accountants. en-us Thu, 27 Feb 2025 08:17:26 +0530 Thu, 27 Feb 2025 08:17:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13667 The Bill replaces the Assessment Year/Previous Year regime with a single Tax Year, raises presumptive taxation thresholds for businesses and professionals, retains capital gains rates, extends filing deadlines, and provides digital transaction audit relief. It restricts housing loan interest deduction to set off against rental income only, removes HRA exemption, specifies a standard deduction, limits deductible employer retirement contributions by reference to basic salary percentages, and preserves exclusive tax audit rights for Chartered Accountants. Articles Income Tax Thu, 27 Feb 2025 08:17:26 +0530 https://www.taxtmi.com/article/detailed?id=13667