https://www.taxtmi.com/news?id=52210 The Income Tax (No.2) Bill restores the exemption for anonymous donations to trusts and aligns NPO taxation with the Income tax Act, 1961 by treating income rather than gross receipts; it extends exemption to mixed object registered NPOs. The Bill removes the mandatory timely ITR filing requirement for TDS refund claims, shortens the TDS correction statement window to two years, adds "profession" to electronic payment requirements for very large professional receipts, and redrafts carry forward and set off of losses for improved presentation. en-us Mon, 11 Aug 2025 21:01:04 +0530 Wed, 13 Aug 2025 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52210 The Income Tax (No.2) Bill restores the exemption for anonymous donations to trusts and aligns NPO taxation with the Income tax Act, 1961 by treating income rather than gross receipts; it extends exemption to mixed object registered NPOs. The Bill removes the mandatory timely ITR filing requirement for TDS refund claims, shortens the TDS correction statement window to two years, adds "profession" to electronic payment requirements for very large professional receipts, and redrafts carry forward and set off of losses for improved presentation. News - Mon, 11 Aug 2025 21:01:04 +0530 https://www.taxtmi.com/news?id=52210