Section 60 – Finance Acts
Amendment of section 194M In section 194M of the Income-tax Act, in sub-section (1), for the words “five per cent”, the words “two per cent” shall be substituted with effect from the 1st day of October, 2024.
Section 59 – Finance Acts
Amendment of section 194-IB In section 194-IB of the Income-tax Act, in sub-section (1), for the words “five per cent”, the words “two per cent” shall be substituted with effect from the 1st day of October, 2024.
Section 58 – Finance Acts
Amendment of section 194-IA In section 194-IA of the Income-tax Act, in sub-section (2), the following proviso shall be inserted with effect from the 1st day of October, 2024, namely:— “Provided that where there is more than one transferor or transferee in respect of any immovable property, then the consideration shall be the aggregate of […]
Section 57 – Finance Acts
Amendment of section 194H In section 194H of the Income-tax Act, for the words “five per cent”, the words “two per cent” shall be substituted with effect from the 1st day of October, 2024.
Section 56 – Finance Acts
Amendment of section 194G In section 194G of the Income-tax Act, for the words “five per cent”, the words “two per cent” shall be substituted with effect from the 1st day of October, 2024.
Section 55 – Finance Acts
Omission of section 194F Section 194F of the Income-tax Act shall be omitted with effect from the 1st day of October, 2024.
Section 54 – Finance Acts
Amendment of section 194DA In section 194DA of the Income-tax Act, for the words “five per cent”, the words “two per cent” shall be substituted with effect from the 1st day of October, 2024.
Section 53 – Finance Acts
Amendment of section 194C In section 194C of the Income-tax Act, in the Explanation, in clause (iv), for the long line, the following long line shall be substituted with effect from the 1st day of October, 2024, namely:— “but does not include— (A) manufacturing or supplying a product according to the requirement or specification of […]
Section 52 – Finance Acts
Amendment of section 194 In section 194 of the Income-tax Act, after the word, brackets and letter “sub-clause (e)”, the words, brackets and letter “or sub-clause (f)” shall be inserted with effect from the 1st day of October, 2024.
Section 51 – Finance Acts
Amendment of section 193 In section 193 of the Income-tax Act, in the proviso, in clause (iv), for the proviso, the following proviso shall be substituted with effect from the 1st day of October, 2024, namely:— “Provided that nothing in this clause shall apply to the interest exceeding ten thousand rupees payable during the financial […]