tax · In Force

Income Tax Act 1961

Governs income tax for all persons. New tax regime (115BAC) default from AY 2024-25. GAAR provisions. Faceless assessment. 30% tax + 1% TDS on virtual digital assets.

Amended

Annual Finance Acts

Ministry

Ministry of Finance

Key provisions and changes

• New tax regime default AY 2024-25
• Updated return (Section 139(8A))
• GAAR anti-avoidance
• Faceless assessment & appeals
• 30% VDA tax + 1% TDS