Budget: Income Tax Act amended to process statements like Form 26QF from entities other than deductors. Scheme to be formulated by Board.

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....Section 200A of the Income Tax Act is being amended to broaden its scope for processing statements filed by entities other than deductors, such as Form No. 26QF filed by Exchanges where deductees file tax details. The Board will formulate a scheme for processing such statements. This amendment will take effect from April 1, 2025.....