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of <h1>Finance Bill 2024 to Amend Section 43D, Removing NHB References and Recognizing HFCs as NBFCs from April 2025.</h1> The Finance Bill 2024 proposes to amend Section 43D of the Act by removing references to the National Housing Bank (NHB). This change is due to the 2019 amendment that transferred regulatory powers over Housing Finance Companies (HFCs) from NHB to the Reserve Bank of India (RBI), categorizing HFCs as Non-Banking Financial Companies (NBFCs). Consequently, clause (b) of Section 43D and related explanations will be omitted. This amendment will be effective from April 1, 2025, applicable to the assessment year 2025-2026 and subsequent years.
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