Amendment of section 12AB In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely:— “(3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within a period of,— (i) three […]
Amendment of section 12A In section 12A of the Income-tax Act, in sub-section (1), in clause (ac) with effect from the 1st day of October, 2024,— (a) in sub-clause (ii),— (i) after the words, figures and letters “under section 12AB”, the words, brackets, figures and letters “or approved under sub-clause (iv) or sub-clause
Amendment of section 11 In section 11 of the Income-tax Act, in sub-section (7), with effect from the 1st day of April, 2025,— (a) for the words, brackets, figures and letters “other than clause (1), clause (23C), clause (23EC), clause (46) and clause (46A) thereof”, the words, brackets, figures and letters “other than clause
Amendment of section 10 In section 10 of the Income-tax Act,— (a) with effect from the 1st day of April, 2025,— (i) in clause (4D), in the Explanation, in clause (c), in sub-clause (i), item (I) shall be renumbered as item (I)(a) and after sub-item (a) as so renumbered, the following sub-item shall be
Amendment of section 2 In section 2 of the Income-tax Act,— (a) in clause (22), with effect from the 1st day of October, 2024,— (I) after sub-clause (e) and before the long line, the following sub-clause shall be inserted, namely:— “(f) any payment by a company on purchase of its own
Income-tax (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2024, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased by a surcharge, for the purposes of the Union, calculated in
Short title and commencement (1) This Act may be called the Finance (No. 2) Act, 2024. (2) Save as otherwise provided in this Act,— (a) sections 2 to 87 shall be deemed to have come into force on the 1st day of April, 2024; (b) sections 114 to 157 shall come into force
The Agricultural Technology Management Agency (ATMA) Scheme, formally known as the “Support to State Extension Programmes for Extension Reforms,” is a centrally sponsored scheme in India launched in 2005. It aims to decentralize and revamp the agricultural extension system by making it more farmer-driven and accountable. Activities of ATMA Scheme Formation and activation of Farmer Interest Groups (FIGs): These
The United States, Japan, and South Korea announced on 26 October 2024 that they will launch a new framework to collaborate with the Indian private sector to support digital infrastructure in India. The new framework is called the Digital Infrastructure Growth Initiative for India Framework (DiGi Framework). The United States, Japan, and South Korea announced a new framework
The Department of Legal Affairs in the law ministry has invited comments on the draft Arbitration and Conciliation (Amendment) Bill, 2024, saying “the aim and purpose is to provide further boost to institutional arbitration, reduce court intervention in arbitrations and ensuring timely conclusion of arbitration proceedings”. The draft bill comes months after an expert committee
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