The Budget 2024 introduces significant updates to TDS (Tax Deducted at Source) provisions, effective October 1, 2024. These changes are designed to streamline tax administration and adjust rates across various categories.
The Bill proposes to provide that no tax demand shall be raised in future on the basis of the retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28.05.2012.
The Union Budget 2020 announced few amendments for Trusts and Charitable Institutions. In the proposed regime after processing the application, trust or institution�s registration is given for a limited period of 5 years.