https://www.taxtmi.com/news?id=52187 The Income Tax (No.2) Bill permits individuals to claim TDS refunds for belated returns, allowing refund claims despite filing income tax returns after the statutory due date, and consolidates assessment year and previous year into a single tax year. It provides nil TCS on LRS remittances for education financed by financial institutions, reintroduces deductions for certain inter corporate dividends for those electing concessional tax rates, amends carry forward and set off of losses, omits the beneficial owner reference, and harmonises Micro and Small Enterprise and associated enterprise definitions. en-us Mon, 11 Aug 2025 18:31:04 +0530 Wed, 13 Aug 2025 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52187 The Income Tax (No.2) Bill permits individuals to claim TDS refunds for belated returns, allowing refund claims despite filing income tax returns after the statutory due date, and consolidates assessment year and previous year into a single tax year. It provides nil TCS on LRS remittances for education financed by financial institutions, reintroduces deductions for certain inter corporate dividends for those electing concessional tax rates, amends carry forward and set off of losses, omits the beneficial owner reference, and harmonises Micro and Small Enterprise and associated enterprise definitions. News - Mon, 11 Aug 2025 18:31:04 +0530 https://www.taxtmi.com/news?id=52187