TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Optional default tax regime for specified persons narrows deductions, preserves Chapter XVII-B and expands IFSC deduction availability</h1> The provision creates an optional default tax regime for specified persons with prescribed slab rates and broad disallowance of listed exemptions, deductions and certain loss set-offs; taxpayers may elect in/out subject to timing and limited withdrawal. Key legislative changes from the introduced Bill to the Act: the Act explicitly preserves Chapter XVII-B and Part E from being overridden, alters carve-outs within Chapter VIII (different subsection references), and removes the Bill's temporal limitation on IFSC unit relief, thereby broadening availability of deduction under the IFSC special rule. Practical effects include tighter deduction limits, procedural opt-in risks, and the need for careful record-keeping.
TaxTMI 
TaxTMI 