Income Tax Update – Highlights on Recent Amendments
Sonakshi Jhunjhunwala & Sunil Jhunjhunwala
CBDT notifies circular on TDS for salaries; Circular 24/2022 remains applicable for FY 2024-25: Circular No. 3 of 2025, dated 20th February, 2025
The Central Board of Direct Taxes (“CBDT”) has issued a new circular incorporating amendments from the Finance (No. 2) Act 2024, Finance (No .1) Act 2024, and Finance Act 2023 in respect to the deduction of TDS on salaries. The board has also clarified that Circular No. 24/2022 remains applicable for FY 2024-25, where no changes were made regarding other salaries- related provisions.
CBDT amends due dates for furnishing of statements in Form 64A and 64E by business trust & securitization trust: Notification F. No. 370142/28/2024-TPL, dated 24th February, 2025
CBDT has revised Rule 12CA and Rule 12CC, altering the due date for submitting Form 64A and Form 64E by busi.......